G-III Apparel Group (GIII) Upgraded to Strong-Buy at Zacks Investment Research

G-III Apparel Group (NASDAQ:GIII) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday. The brokerage currently has a $40.00 price objective on the textile maker’s stock. Zacks Investment Research‘s target price points to a potential upside of 15.04% from the stock’s current price.

According to Zacks, “G-III is a leading manufacturer and distributor of apparel and accessories under licensed brands, owned brands and private label brands. G-III’s owned brands include Donna Karan, DKNY, Vilebrequin, G. H. Bass, Andrew Marc, Marc New York, Eliza J and Jessica Howard. G-III has fashion licenses under the Calvin Klein, Tommy Hilfiger, Karl Lagerfeld, Kenneth Cole, Cole Haan, Guess?, Vince Camuto, Ivanka Trump, Kensie, Jessica Simpson, Levi’s and Dockers brands. Through team sports business, G-III has licenses with the National Football League, National Basketball Association, Major League Baseball, National Hockey League, Hands High, Touch by Alyssa Milano. G-III also operates retail stores under the DKNY, Wilsons Leather, G. H. Bass, Vilebrequin, Calvin Klein Performance and Karl Lagerfeld Paris names. “

GIII has been the subject of a number of other reports. Cowen set a $32.00 price objective on shares of G-III Apparel Group and gave the stock a “hold” rating in a research report on Thursday, November 30th. Telsey Advisory Group lifted their price objective on shares of G-III Apparel Group from $36.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Jaffray Companies set a $36.00 price objective on shares of G-III Apparel Group and gave the stock a “buy” rating in a research report on Wednesday. KeyCorp reaffirmed a “buy” rating and set a $41.00 price objective on shares of G-III Apparel Group in a research report on Thursday, August 24th. Finally, Buckingham Research lifted their price objective on shares of G-III Apparel Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $34.73.

Shares of G-III Apparel Group (NASDAQ GIII) traded down $0.30 on Thursday, reaching $34.77. 1,218,828 shares of the company were exchanged, compared to its average volume of 860,777. The firm has a market capitalization of $1,672.41, a P/E ratio of 29.07, a price-to-earnings-growth ratio of 1.56 and a beta of 0.29. G-III Apparel Group has a fifty-two week low of $18.00 and a fifty-two week high of $35.95. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.09 and a current ratio of 2.75.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Tuesday, December 5th. The textile maker reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.13. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. G-III Apparel Group had a net margin of 1.58% and a return on equity of 5.77%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.50 earnings per share. analysts predict that G-III Apparel Group will post 1.47 earnings per share for the current year.

In other G-III Apparel Group news, Director Alan Feller sold 2,000 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $29.22, for a total transaction of $58,440.00. Following the completion of the transaction, the director now owns 20,609 shares of the company’s stock, valued at $602,194.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Wayne S. Miller sold 50,000 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $29.56, for a total value of $1,478,000.00. Following the transaction, the chief operating officer now directly owns 269,531 shares of the company’s stock, valued at approximately $7,967,336.36. The disclosure for this sale can be found here. Insiders have sold 57,000 shares of company stock valued at $1,682,990 in the last ninety days. 9.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ingalls & Snyder LLC increased its stake in shares of G-III Apparel Group by 852.3% in the third quarter. Ingalls & Snyder LLC now owns 178,083 shares of the textile maker’s stock valued at $5,168,000 after buying an additional 159,383 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of G-III Apparel Group by 45.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,904,916 shares of the textile maker’s stock valued at $72,478,000 after buying an additional 907,701 shares during the period. Scout Investments Inc. increased its stake in shares of G-III Apparel Group by 42.5% in the third quarter. Scout Investments Inc. now owns 70,350 shares of the textile maker’s stock valued at $2,042,000 after buying an additional 20,975 shares during the period. Pinebridge Investments L.P. increased its stake in shares of G-III Apparel Group by 145.1% in the second quarter. Pinebridge Investments L.P. now owns 57,443 shares of the textile maker’s stock valued at $1,433,000 after buying an additional 34,004 shares during the period. Finally, Cortina Asset Management LLC acquired a new position in shares of G-III Apparel Group in the third quarter valued at approximately $4,709,000.

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G-III Apparel Group 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.

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