G-III Apparel Group, LTD. (GIII) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of G-III Apparel Group, LTD. (NASDAQ:GIII) from a hold rating to a buy rating in a research report released on Tuesday, August 8th.

GIII has been the subject of a number of other reports. Cowen and Company increased their target price on shares of G-III Apparel Group, LTD. from $22.00 to $23.00 and gave the company a market perform rating in a report on Wednesday, June 7th. Stifel Nicolaus reaffirmed a hold rating and issued a $20.00 target price on shares of G-III Apparel Group, LTD. in a report on Friday, May 26th. Zacks Investment Research raised shares of G-III Apparel Group, LTD. from a sell rating to a hold rating and set a $30.00 target price for the company in a report on Thursday, June 8th. Buckingham Research reaffirmed a buy rating and issued a $28.00 target price on shares of G-III Apparel Group, LTD. in a report on Monday, July 17th. Finally, FBR & Co reaffirmed an outperform rating and issued a $33.00 target price on shares of G-III Apparel Group, LTD. in a report on Tuesday, July 11th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $29.82.

Shares of G-III Apparel Group, LTD. (NASDAQ:GIII) opened at 23.94 on Tuesday. The firm has a market capitalization of $1.16 billion, a PE ratio of 29.27 and a beta of 0.33. G-III Apparel Group, LTD. has a 12-month low of $18.00 and a 12-month high of $44.85. The company has a 50-day moving average price of $24.86 and a 200 day moving average price of $24.06.

G-III Apparel Group, LTD. (NASDAQ:GIII) last posted its quarterly earnings results on Tuesday, June 6th. The textile maker reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.22. The firm had revenue of $529 million during the quarter, compared to analysts’ expectations of $497.88 million. G-III Apparel Group, LTD. had a net margin of 1.58% and a return on equity of 5.57%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 earnings per share. On average, equities analysts expect that G-III Apparel Group, LTD. will post $1.26 earnings per share for the current year.

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A number of hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of G-III Apparel Group, LTD. during the second quarter worth about $400,000. Public Employees Retirement System of Ohio raised its stake in shares of G-III Apparel Group, LTD. by 2.2% in the second quarter. Public Employees Retirement System of Ohio now owns 64,541 shares of the textile maker’s stock worth $1,610,000 after buying an additional 1,405 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in shares of G-III Apparel Group, LTD. during the second quarter worth about $236,000. The Manufacturers Life Insurance Company raised its stake in shares of G-III Apparel Group, LTD. by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 34,030 shares of the textile maker’s stock worth $849,000 after buying an additional 438 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of G-III Apparel Group, LTD. during the second quarter worth about $851,000. Hedge funds and other institutional investors own 99.38% of the company’s stock.

G-III Apparel Group, LTD. Company Profile

G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.

Analyst Recommendations for G-III Apparel Group, LTD. (NASDAQ:GIII)

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