G-III Apparel Group (NASDAQ:GIII) Raised to Strong-Buy at Zacks Research

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

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

G-III Apparel Group Trading Up 0.7%

Shares of GIII opened at $34.86 on Monday. The firm’s 50-day moving average is $31.29 and its two-hundred day moving average is $30.14. G-III Apparel Group has a twelve month low of $21.05 and a twelve month high of $36.53. The firm has a market capitalization of $1.47 billion, a P/E ratio of 12.32 and a beta of 1.29.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Friday, June 5th. The textile maker reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.09. The business had revenue of $535.96 million for the quarter, compared to analyst estimates of $529.07 million. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. The company’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the prior 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. Analysts predict that G-III Apparel Group will post 2.23 EPS for the current year.

Hedge Funds Weigh In On G-III Apparel Group

A number of large investors have recently bought and sold shares of GIII. GAMMA Investing LLC raised its stake in G-III Apparel Group by 107.7% during the fourth quarter. GAMMA Investing LLC now owns 941 shares of the textile maker’s stock worth $27,000 after purchasing an additional 488 shares during the period. EverSource Wealth Advisors LLC raised its stake in G-III Apparel Group by 105.2% during the third quarter. EverSource Wealth Advisors LLC now owns 1,153 shares of the textile maker’s stock worth $31,000 after purchasing an additional 591 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in G-III Apparel Group during the fourth quarter worth approximately $34,000. Raymond James Financial Inc. purchased a new position in G-III Apparel Group during the second quarter worth approximately $41,000. Finally, Parallel Advisors LLC raised its stake in G-III Apparel Group by 231.9% during the fourth quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker’s stock worth $52,000 after purchasing an additional 1,243 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

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.