G-III Apparel Group (NASDAQ:GIII) Raised to “Buy” at Bank of America

Bank of America upgraded shares of G-III Apparel Group (NASDAQ:GIII) from a neutral rating to a buy rating in a research report sent to investors on Wednesday, Briefing.com Automated Import reports.

Several other research analysts have also commented on the company. BidaskClub raised G-III Apparel Group from a sell rating to a hold rating in a research report on Wednesday, November 6th. Zacks Investment Research raised G-III Apparel Group from a sell rating to a hold rating and set a $30.00 price target for the company in a research report on Wednesday, November 6th. Needham & Company LLC reduced their price target on G-III Apparel Group from $47.00 to $34.00 and set a buy rating for the company in a research report on Tuesday, September 3rd. Telsey Advisory Group lowered G-III Apparel Group from an outperform rating to a market perform rating and reduced their price target for the stock from $34.00 to $20.00 in a research report on Tuesday, September 3rd. Finally, B. Riley reduced their price target on G-III Apparel Group from $37.00 to $33.00 and set a buy rating for the company in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $28.30.

GIII traded up $0.53 on Wednesday, hitting $29.50. 365,300 shares of the company’s stock traded hands, compared to its average volume of 481,338. G-III Apparel Group has a one year low of $18.18 and a one year high of $44.36. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 10.31, a P/E/G ratio of 1.23 and a beta of 1.52. The company’s 50 day simple moving average is $26.21 and its 200-day simple moving average is $27.20. The company has a current ratio of 2.08, a quick ratio of 0.88 and a debt-to-equity ratio of 0.71.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The firm 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 business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS. As a group, equities analysts anticipate that G-III Apparel Group will post 3.19 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. FTB Advisors Inc. increased its position in G-III Apparel Group by 43.2% during the 3rd quarter. FTB Advisors Inc. now owns 1,320 shares of the textile maker’s stock valued at $34,000 after buying an additional 398 shares in the last quarter. Louisiana State Employees Retirement System increased its position in G-III Apparel Group by 2.6% during the 3rd quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the textile maker’s stock valued at $410,000 after buying an additional 400 shares in the last quarter. Zions Bancorporation N.A. increased its position in G-III Apparel Group by 5.5% during the 2nd quarter. Zions Bancorporation N.A. now owns 7,931 shares of the textile maker’s stock valued at $233,000 after buying an additional 415 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in G-III Apparel Group by 5.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 9,960 shares of the textile maker’s stock valued at $293,000 after buying an additional 519 shares in the last quarter. Finally, Bank of Montreal Can increased its position in G-III Apparel Group by 1.4% during the 2nd quarter. Bank of Montreal Can now owns 42,909 shares of the textile maker’s stock valued at $1,262,000 after buying an additional 574 shares in 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.

Read More: Sell-Side Analysts

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

Receive News & Ratings for G-III Apparel Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for G-III Apparel Group and related companies with MarketBeat.com's FREE daily email newsletter.