G-III Apparel Group (NASDAQ:GIII) Shares Up 2.5% After Analyst Upgrade

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Get Free Report) were up 2.5% during mid-day trading on Friday after Wall Street Zen upgraded the stock from a buy rating to a strong-buy rating. The company traded as high as $28.69 and last traded at $29.16. Approximately 43,800 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 552,098 shares. The stock had previously closed at $28.45.

A number of other equities analysts also recently weighed in on GIII. UBS Group decreased their target price on shares of G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Barclays decreased their target price on shares of G-III Apparel Group from $25.00 to $21.00 and set an "underweight" rating for the company in a research note on Monday, April 28th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $30.00 target price on shares of G-III Apparel Group in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, G-III Apparel Group has a consensus rating of "Moderate Buy" and a consensus price target of $32.20.

Institutional Investors Weigh In On G-III Apparel Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. SummerHaven Investment Management LLC increased its position in shares of G-III Apparel Group by 1.6% during the first quarter. SummerHaven Investment Management LLC now owns 29,853 shares of the textile maker's stock valued at $816,000 after acquiring an additional 461 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of G-III Apparel Group by 18.6% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,590 shares of the textile maker's stock valued at $117,000 after acquiring an additional 564 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of G-III Apparel Group by 4.3% during the fourth quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker's stock valued at $500,000 after acquiring an additional 631 shares in the last quarter. Vestcor Inc increased its position in shares of G-III Apparel Group by 2.1% during the fourth quarter. Vestcor Inc now owns 31,988 shares of the textile maker's stock valued at $1,043,000 after acquiring an additional 665 shares in the last quarter. Finally, Atria Investments Inc increased its position in shares of G-III Apparel Group by 9.1% during the fourth quarter. Atria Investments Inc now owns 8,102 shares of the textile maker's stock valued at $264,000 after acquiring an additional 673 shares in the last quarter. Institutional investors own 92.13% of the company's stock.

G-III Apparel Group Stock Up 1.4%

The company has a market cap of $1.27 billion, a P/E ratio of 7.57 and a beta of 1.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75. The company's 50-day moving average is $26.15 and its two-hundred day moving average is $28.83.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.30. The company had revenue of $839.50 million during the quarter, compared to the consensus estimate of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. As a group, equities analysts predict that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

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 through 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.