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

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Zacks Investment Research upgraded shares of G-III Apparel Group (NASDAQ:GIII) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports. They currently have $30.00 target price on the textile maker’s stock.

According to Zacks, “Shares of G-III Apparel have slipped and lagged the industry in the past six months. The downside was caused by sluggishness in the retail segment and anticipated tariff pressures. The retail unit is reeling under weak Wilsons and G.H. Bass brands as well as reduced store base. These headwinds persisted in second-quarter fiscal 2020. Nevertheless, growth in wholesale business favorably impacted the quarter that even led to year-over-year increase in the top and the bottom line. While the wholesale business is likely to keep flourishing, the retail unit is expected to remain tarnished. In fact, management anticipates high-single-digit decline in comps at Wilsons and Bass in fiscal 2020. Additionally, G-III Apparel is cautious about adverse tariff impacts. To reflect this, the company lowered bottom-line projection for fiscal 2020.”

Several other brokerages have also issued reports on GIII. Telsey Advisory Group lowered G-III Apparel Group from an outperform rating to a market perform rating and lowered their target price for the company from $34.00 to $20.00 in a research note on Tuesday, September 3rd. BidaskClub upgraded G-III Apparel Group from a sell rating to a hold rating in a report on Wednesday. Wells Fargo & Co assumed coverage on G-III Apparel Group in a report on Monday, September 23rd. They issued a market perform rating and a $26.00 price objective for the company. Needham & Company LLC dropped their target price on G-III Apparel Group from $47.00 to $34.00 and set a buy rating for the company in a report on Tuesday, September 3rd. Finally, Stifel Nicolaus set a $22.00 target price on G-III Apparel Group and gave the company a hold rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. G-III Apparel Group presently has an average rating of Hold and a consensus target price of $29.50.

NASDAQ:GIII traded down $0.41 on Wednesday, reaching $29.23. The company’s stock had a trading volume of 489,700 shares, compared to its average volume of 678,791. The firm has a market cap of $1.37 billion, a PE ratio of 10.22, a PEG ratio of 1.44 and a beta of 1.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.88 and a current ratio of 2.08. G-III Apparel Group has a 1-year low of $18.18 and a 1-year high of $44.36. The business’s 50-day moving average price is $25.67 and its two-hundred day moving average price is $27.61.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. The business had revenue of $643.90 million for 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%. G-III Apparel Group’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company posted $0.22 earnings per share. As a group, sell-side analysts expect that G-III Apparel Group will post 3.19 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mason Street Advisors LLC boosted its stake in G-III Apparel Group by 5.1% during the 3rd quarter. Mason Street Advisors LLC now owns 14,591 shares of the textile maker’s stock valued at $376,000 after purchasing an additional 706 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in G-III Apparel Group during the 3rd quarter valued at $48,000. SG Americas Securities LLC boosted its stake in G-III Apparel Group by 6.5% during the 3rd quarter. SG Americas Securities LLC now owns 55,616 shares of the textile maker’s stock valued at $1,433,000 after purchasing an additional 3,408 shares during the last quarter. First Trust Advisors LP boosted its stake in G-III Apparel Group by 72.3% during the 3rd quarter. First Trust Advisors LP now owns 78,673 shares of the textile maker’s stock valued at $2,027,000 after purchasing an additional 33,014 shares during the last quarter. Finally, First National Bank of Omaha boosted its stake in G-III Apparel Group by 24.0% during the 3rd quarter. First National Bank of Omaha now owns 37,290 shares of the textile maker’s stock valued at $961,000 after purchasing an additional 7,220 shares during 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.

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