G-III Apparel Group (NASDAQ:GIII) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of G-III Apparel Group (NASDAQ:GIII) from a hold rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other equities research analysts have also recently commented on GIII. BTIG Research restated a “buy” rating and issued a $40.00 price target on shares of G-III Apparel Group in a report on Wednesday, September 2nd. Telsey Advisory Group lowered their target price on shares of G-III Apparel Group from $38.00 to $32.00 and set a “market perform” rating on the stock in a report on Thursday, September 3rd. Weiss Ratings upgraded G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. 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 report on Monday, June 8th. Finally, Zacks Research downgraded G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

G-III Apparel Group Stock Performance

Shares of GIII opened at $27.74 on Friday. The stock’s 50-day moving average price is $34.03 and its two-hundred day moving average price is $31.82. The company has a market capitalization of $1.17 billion, a PE ratio of 9.13 and a beta of 1.27. G-III Apparel Group has a 12 month low of $24.61 and a 12 month high of $37.54.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Wednesday, September 2nd. The textile maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $554.09 million during the quarter, compared to the consensus estimate of $570.37 million. G-III Apparel Group had a net margin of 4.75% and a return on equity of 5.55%. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. G-III Apparel Group has set its Q3 2027 guidance at 1.350-1.450 EPS and its FY 2027 guidance at 2.200-2.300 EPS. Equities research analysts predict that G-III Apparel Group will post 2.25 EPS for the current fiscal year.

G-III Apparel Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 15th. G-III Apparel Group’s payout ratio is 13.16%.

Institutional Trading of G-III Apparel Group

Large investors have recently bought and sold shares of the company. Nykredit A S bought a new position in shares of G-III Apparel Group during the 2nd quarter worth $33,000. Raymond James Financial Inc. bought a new stake in shares of G-III Apparel Group during the second quarter valued at about $41,000. Allworth Financial LP purchased a new stake in G-III Apparel Group in the 2nd quarter worth approximately $50,000. Parallel Advisors LLC boosted 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 valued at $52,000 after buying an additional 1,243 shares during the period. Finally, Strs Ohio bought a new stake in shares of G-III Apparel Group during the 1st quarter valued at about $77,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

About G-III Apparel Group

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.