G-III Apparel Group (NASDAQ:GIII) Stock Rating Upgraded by Bank of America

G-III Apparel Group (NASDAQ:GIII) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a report released on Wednesday, MarketBeat reports.

A number of other research analysts also recently weighed in on GIII. Wells Fargo & Co initiated coverage on G-III Apparel Group in a report on Monday, September 23rd. They issued a “market perform” rating and a $26.00 target price on the stock. Zacks Investment Research raised G-III Apparel Group from a “sell” rating to a “hold” rating and set a $30.00 target price on the stock in a report on Wednesday, November 6th. B. Riley lowered their target price 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. Barclays initiated coverage on G-III Apparel Group in a report on Tuesday, November 12th. They issued an “equal weight” rating and a $27.00 target price on the stock. Finally, Needham & Company LLC lowered their target price on G-III Apparel Group from $47.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. G-III Apparel Group presently has a consensus rating of “Hold” and an average price target of $28.30.

GIII stock traded up $0.53 during midday trading on Wednesday, hitting $29.50. The stock had a trading volume of 365,300 shares, compared to its average volume of 481,338. G-III Apparel Group has a 52-week low of $18.18 and a 52-week high of $44.36. The business has a 50-day moving average of $26.21 and a two-hundred day moving average of $27.20. 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 firm has a market cap of $1.38 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 1.23 and a beta of 1.52.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Thursday, September 5th. The textile maker reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. G-III Apparel Group had a return on equity of 12.37% and a net margin of 4.53%. The company had revenue of $643.90 million for the quarter, compared to the consensus estimate of $656.16 million. During the same quarter in the prior year, the company earned $0.22 earnings per share. G-III Apparel Group’s revenue was up 3.1% on a year-over-year basis. Research analysts predict that G-III Apparel Group will post 3.19 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hillcrest Asset Management LLC raised its stake in shares of G-III Apparel Group by 0.6% in the second quarter. Hillcrest Asset Management LLC now owns 214,185 shares of the textile maker’s stock worth $6,301,000 after buying an additional 1,300 shares during the period. First Hawaiian Bank raised its stake in shares of G-III Apparel Group by 54.4% in the second quarter. First Hawaiian Bank now owns 8,320 shares of the textile maker’s stock worth $245,000 after buying an additional 2,930 shares during the period. Bank of New York Mellon Corp raised its stake in shares of G-III Apparel Group by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 1,083,453 shares of the textile maker’s stock worth $31,876,000 after buying an additional 46,204 shares during the period. Flinton Capital Management LLC raised its stake in shares of G-III Apparel Group by 14.7% in the second quarter. Flinton Capital Management LLC now owns 8,064 shares of the textile maker’s stock worth $237,000 after buying an additional 1,036 shares during the period. Finally, Peregrine Capital Management LLC raised its stake in shares of G-III Apparel Group by 6.4% in the second quarter. Peregrine Capital Management LLC now owns 593,901 shares of the textile maker’s stock worth $17,473,000 after buying an additional 35,871 shares during the period.

About G-III Apparel Group

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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