Buckingham Research Reiterates Buy Rating for G-III Apparel Group, LTD. (GIII)

Buckingham Research reiterated their buy rating on shares of G-III Apparel Group, LTD. (NASDAQ:GIII) in a report published on Thursday. Buckingham Research currently has a $35.00 price objective on the textile maker’s stock, up from their prior price objective of $30.00.

GIII has been the topic of several other reports. Cowen and Company set a $23.00 price target on G-III Apparel Group, LTD. and gave the company a hold rating in a research note on Monday, August 14th. BidaskClub lowered G-III Apparel Group, LTD. from a hold rating to a sell rating in a research note on Friday, June 23rd. Telsey Advisory Group raised G-III Apparel Group, LTD. from a market perform rating to an outperform rating and boosted their price target for the company from $27.00 to $36.00 in a research note on Wednesday, September 6th. Piper Jaffray Companies raised G-III Apparel Group, LTD. from a neutral rating to an overweight rating and set a $27.00 price target on the stock in a research note on Wednesday, August 23rd. Finally, ValuEngine raised G-III Apparel Group, LTD. from a sell rating to a hold rating in a research note on Friday, September 1st. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $32.82.

Shares of G-III Apparel Group, LTD. (NASDAQ:GIII) opened at 29.29 on Thursday. G-III Apparel Group, LTD. has a 12 month low of $18.00 and a 12 month high of $32.98. The firm has a market capitalization of $1.43 billion, a P/E ratio of 35.81 and a beta of 0.26. The company has a 50 day moving average of $26.30 and a 200-day moving average of $24.21.

G-III Apparel Group, LTD. (NASDAQ:GIII) last issued its quarterly earnings results on Wednesday, September 6th. The textile maker reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.11. G-III Apparel Group, LTD. had a return on equity of 4.67% and a net margin of 1.23%. The firm had revenue of $538 million for the quarter, compared to analyst estimates of $522.45 million. During the same period in the previous year, the firm earned $0.01 earnings per share. The company’s revenue was up 21.6% compared to the same quarter last year. Analysts predict that G-III Apparel Group, LTD. will post $1.35 EPS for the current year.

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Hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN grew its stake in shares of G-III Apparel Group, LTD. by 97.1% during the 1st quarter. Wells Fargo & Company MN now owns 857,418 shares of the textile maker’s stock worth $18,768,000 after acquiring an additional 422,320 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of G-III Apparel Group, LTD. by 1.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the textile maker’s stock worth $390,000 after acquiring an additional 200 shares during the period. Renaissance Technologies LLC grew its stake in shares of G-III Apparel Group, LTD. by 1,030.1% during the 1st quarter. Renaissance Technologies LLC now owns 357,100 shares of the textile maker’s stock worth $7,817,000 after acquiring an additional 325,500 shares during the period. US Bancorp DE grew its stake in shares of G-III Apparel Group, LTD. by 19.6% during the 1st quarter. US Bancorp DE now owns 87,330 shares of the textile maker’s stock worth $1,912,000 after acquiring an additional 14,286 shares during the period. Finally, Texas Permanent School Fund grew its stake in shares of G-III Apparel Group, LTD. by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 31,969 shares of the textile maker’s stock worth $798,000 after acquiring an additional 275 shares during the period. Institutional investors own 99.38% of the company’s stock.

About G-III Apparel Group, LTD.

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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