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

Zacks Research upgraded shares of G-III Apparel Group (NASDAQ:GIII) from a hold rating to a strong-buy rating in a report published on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings raised shares of G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. UBS Group dropped their price objective on shares of G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. KeyCorp reissued an “overweight” rating and issued a $40.00 price objective (up from $35.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. BTIG Research lifted their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $38.00 price objective (up from $29.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.00.

G-III Apparel Group Stock Up 0.7%

Shares of NASDAQ:GIII opened at $34.86 on Monday. G-III Apparel Group has a 52 week low of $21.05 and a 52 week high of $36.53. The stock has a market capitalization of $1.47 billion, a P/E ratio of 12.32 and a beta of 1.29. The firm has a fifty day simple moving average of $31.29 and a two-hundred day simple moving average of $30.14.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Friday, June 5th. The textile maker reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.09. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. The business had revenue of $535.96 million during the quarter, compared to analysts’ expectations of $529.07 million. During the same period last year, the company posted $0.19 EPS. The business’s revenue was down 8.2% on a year-over-year basis. 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, analysts expect that G-III Apparel Group will post 2.23 earnings per share for the current year.

G-III Apparel Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Monday, June 22nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. G-III Apparel Group’s payout ratio is currently 14.13%.

Hedge Funds Weigh In On G-III Apparel Group

Large investors have recently made changes to their positions in the company. Jupiter Asset Management Ltd. purchased a new position in shares of G-III Apparel Group during the 3rd quarter worth about $5,878,000. Phocas Financial Corp. boosted its stake in shares of G-III Apparel Group by 77.2% during the 4th quarter. Phocas Financial Corp. now owns 244,406 shares of the textile maker’s stock worth $7,078,000 after purchasing an additional 106,497 shares during the period. AlphaQuest LLC boosted its stake in shares of G-III Apparel Group by 251.4% during the 4th quarter. AlphaQuest LLC now owns 70,278 shares of the textile maker’s stock worth $2,035,000 after purchasing an additional 50,279 shares during the period. Medina Value Partners LLC boosted its stake in shares of G-III Apparel Group by 1,099.7% during the 3rd quarter. Medina Value Partners LLC now owns 682,090 shares of the textile maker’s stock worth $18,150,000 after purchasing an additional 625,237 shares during the period. Finally, Hound Partners LLC boosted its stake in shares of G-III Apparel Group by 280.0% during the 3rd quarter. Hound Partners LLC now owns 478,909 shares of the textile maker’s stock worth $12,744,000 after purchasing an additional 352,869 shares during the period. 92.13% of the stock is 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.