G-III Apparel Group (NASDAQ:GIII) Rating Increased to Buy at StockNews.com

G-III Apparel Group (NASDAQ:GIII) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

Several other analysts have also issued reports on the stock. Barclays raised their price target on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Guggenheim started coverage on G-III Apparel Group in a research report on Wednesday, October 9th. They set a “buy” rating and a $36.00 target price on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $29.00 price target on shares of G-III Apparel Group in a report on Thursday, September 5th. Finally, KeyCorp raised their price objective on G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.00.

G-III Apparel Group Stock Performance

Shares of G-III Apparel Group stock traded up $1.75 during trading on Monday, reaching $31.38. The company’s stock had a trading volume of 668,778 shares, compared to its average volume of 560,462. The business’s fifty day moving average price is $30.54 and its 200-day moving average price is $28.48. G-III Apparel Group has a one year low of $20.66 and a one year high of $35.68. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 7.85 and a beta of 2.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The company had revenue of $644.80 million during the quarter, compared to analyst estimates of $649.54 million. During the same period in the previous year, the company earned $0.40 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts predict that G-III Apparel Group will post 4.01 earnings per share for the current year.

Insider Buying and Selling at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 100,000 shares of G-III Apparel Group stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $31.59, for a total transaction of $3,159,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,990,085 shares of the company’s stock, valued at approximately $126,046,785.15. This trade represents a 2.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On G-III Apparel Group

Several large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in G-III Apparel Group by 5.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,911 shares of the textile maker’s stock worth $897,000 after buying an additional 1,485 shares during the last quarter. CWM LLC increased its holdings in G-III Apparel Group by 115.0% during the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after purchasing an additional 1,012 shares in the last quarter. SG Americas Securities LLC boosted its stake in G-III Apparel Group by 162.2% in the second quarter. SG Americas Securities LLC now owns 95,308 shares of the textile maker’s stock worth $2,580,000 after purchasing an additional 58,959 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in G-III Apparel Group in the second quarter worth $257,000. Finally, SummerHaven Investment Management LLC increased its stake in shares of G-III Apparel Group by 1.4% in the second quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker’s stock valued at $1,023,000 after buying an additional 516 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.