G-III Apparel Group (NASDAQ:GIII) Stock Rating Upgraded by Zacks Research

G-III Apparel Group (NASDAQ:GIII) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

GIII has been the subject of several other reports. UBS Group reduced their price target on G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th. Weiss Ratings upgraded G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. BTIG Research lifted their price target on G-III Apparel Group from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 5th. KeyCorp reiterated an “overweight” rating and set a $40.00 price target (up from $35.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $38.00 price target (up from $29.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, G-III Apparel Group currently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

G-III Apparel Group Trading Up 0.7%

Shares of GIII stock opened at $34.86 on Monday. The stock has a 50 day moving average of $31.29 and a 200 day moving average of $30.14. The stock has a market cap of $1.47 billion, a P/E ratio of 12.32 and a beta of 1.29. G-III Apparel Group has a twelve month low of $21.05 and a twelve month high of $36.53.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Friday, June 5th. The textile maker reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.09. The company had revenue of $535.96 million during the quarter, compared to analysts’ expectations of $529.07 million. G-III Apparel Group had a return on equity of 5.59% and a net margin of 4.34%.G-III Apparel Group’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period last year, the business earned $0.19 earnings per share. G-III Apparel Group has set its FY 2027 guidance at 2.150-2.250 EPS and its Q2 2027 guidance at 0.150-0.250 EPS. On average, research analysts predict that G-III Apparel Group will post 2.23 earnings per share for the current fiscal year.

Institutional Trading of G-III Apparel Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royce & Associates LP increased its position in shares of G-III Apparel Group by 0.8% in the third quarter. Royce & Associates LP now owns 42,421 shares of the textile maker’s stock valued at $1,129,000 after buying an additional 348 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of G-III Apparel Group by 2.5% in the first quarter. Illinois Municipal Retirement Fund now owns 19,758 shares of the textile maker’s stock valued at $547,000 after buying an additional 482 shares in the last quarter. GAMMA Investing LLC increased its position in shares of G-III Apparel Group by 107.7% in the fourth quarter. GAMMA Investing LLC now owns 941 shares of the textile maker’s stock valued at $27,000 after buying an additional 488 shares in the last quarter. SG Americas Securities LLC increased its position in shares of G-III Apparel Group by 2.8% in the fourth quarter. SG Americas Securities LLC now owns 20,970 shares of the textile maker’s stock valued at $607,000 after buying an additional 570 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of G-III Apparel Group by 105.2% in the third quarter. EverSource Wealth Advisors LLC now owns 1,153 shares of the textile maker’s stock valued at $31,000 after buying an additional 591 shares in the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. is a global fashion company engaged in the design, sourcing, marketing and distribution of women’s and men’s apparel, outerwear, footwear, handbags and fashion accessories. Founded in 1956 and headquartered in New York City, the company has grown from an importer of ladies’ apparel into a diversified apparel business with a portfolio of owned and licensed brands.

The company’s product offerings span a broad spectrum of price points and styles, including formal and casual outerwear, sportswear, performance wear and contemporary fashion.