G-III Apparel Group (NASDAQ:GIII) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of G-III Apparel Group (NASDAQ:GIII) from a sell rating to a hold rating in a research note released on Wednesday, BidAskClub reports.

GIII has been the topic of several other research reports. Bank of America cut G-III Apparel Group from a buy rating to a neutral rating and decreased their price target for the company from $35.00 to $21.00 in a report on Wednesday, September 4th. ValuEngine upgraded G-III Apparel Group from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. Wells Fargo & Co began coverage on G-III Apparel Group in a report on Monday, September 23rd. They issued a market perform rating and a $26.00 price target on the stock. B. Riley decreased their price target on G-III Apparel Group from $37.00 to $33.00 and set a buy rating on the stock in a report on Friday, September 6th. Finally, Stifel Nicolaus set a $22.00 price target on G-III Apparel Group and gave the company a hold rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. G-III Apparel Group presently has an average rating of Hold and a consensus price target of $29.50.

GIII stock traded down $0.41 during midday trading on Wednesday, reaching $29.23. 489,700 shares of the company’s stock traded hands, compared to its average volume of 678,791. G-III Apparel Group has a fifty-two week low of $18.18 and a fifty-two week high of $44.36. The company has a market capitalization of $1.37 billion, a P/E ratio of 10.22, a PEG ratio of 1.44 and a beta of 1.52. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.08 and a quick ratio of 0.88. The business has a 50-day moving average price of $25.67 and a two-hundred day moving average price of $27.61.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Thursday, September 5th. The textile maker reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. The company had revenue of $643.90 million during the quarter, compared to analyst estimates of $656.16 million. G-III Apparel Group had a return on equity of 12.37% and a net margin of 4.53%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company posted $0.22 earnings per share. As a group, research analysts forecast that G-III Apparel Group will post 3.19 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mason Street Advisors LLC boosted its holdings in G-III Apparel Group by 5.1% during the third quarter. Mason Street Advisors LLC now owns 14,591 shares of the textile maker’s stock worth $376,000 after buying an additional 706 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in G-III Apparel Group during the third quarter worth about $48,000. SG Americas Securities LLC boosted its holdings in G-III Apparel Group by 6.5% during the third quarter. SG Americas Securities LLC now owns 55,616 shares of the textile maker’s stock worth $1,433,000 after buying an additional 3,408 shares during the last quarter. First Trust Advisors LP boosted its holdings in G-III Apparel Group by 72.3% during the third quarter. First Trust Advisors LP now owns 78,673 shares of the textile maker’s stock worth $2,027,000 after buying an additional 33,014 shares during the last quarter. Finally, First National Bank of Omaha boosted its holdings in G-III Apparel Group by 24.0% during the third quarter. First National Bank of Omaha now owns 37,290 shares of the textile maker’s stock worth $961,000 after buying an additional 7,220 shares during the last quarter.

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 in 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.

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

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