G-III Apparel Group, LTD. (NASDAQ:GIII) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The firm currently has a $34.00 price objective on the textile maker’s stock. Zacks Investment Research‘s target price suggests a potential upside of 16.08% from the stock’s previous close.

According to Zacks, “G-III Apparel Group, Ltd. designs, manufactures, imports & markets an extensive range of leather & non-leather apparel including coats, jackets, pants, skirts & other sportswear items. “

A number of other research firms have also commented on GIII. Telsey Advisory Group raised shares of G-III Apparel Group, LTD. from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $27.00 to $36.00 in a research report on Wednesday. BidaskClub raised shares of G-III Apparel Group, LTD. from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. KeyCorp reissued a “buy” rating and issued a $41.00 price target on shares of G-III Apparel Group, LTD. in a research report on Thursday, August 24th. Piper Jaffray Companies set a $22.00 price target on shares of G-III Apparel Group, LTD. and gave the company a “hold” rating in a research report on Tuesday, June 6th. Finally, Buckingham Research lifted their price target on shares of G-III Apparel Group, LTD. from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, August 31st. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. G-III Apparel Group, LTD. presently has a consensus rating of “Buy” and a consensus price target of $32.82.

Shares of G-III Apparel Group, LTD. (GIII) opened at 29.29 on Friday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 35.81 and a beta of 0.26. G-III Apparel Group, LTD. has a 12-month low of $18.00 and a 12-month high of $32.98. The company’s 50-day moving average is $26.30 and its 200-day moving average is $24.21.

G-III Apparel Group, LTD. (NASDAQ:GIII) last released its quarterly earnings results on Wednesday, September 6th. The textile maker reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.11. G-III Apparel Group, LTD. had a net margin of 1.23% and a return on equity of 4.67%. The company had revenue of $538 million for the quarter, compared to analyst estimates of $522.45 million. During the same quarter last year, the firm posted $0.01 earnings per share. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. On average, equities analysts forecast that G-III Apparel Group, LTD. will post $1.35 earnings per share for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in GIII. Teachers Advisors LLC increased its position in G-III Apparel Group, LTD. by 2.3% during the fourth quarter. Teachers Advisors LLC now owns 70,897 shares of the textile maker’s stock worth $2,096,000 after acquiring an additional 1,623 shares during the period. Bank of Montreal Can increased its holdings in G-III Apparel Group, LTD. by 1,058.4% in the 1st quarter. Bank of Montreal Can now owns 18,731 shares of the textile maker’s stock valued at $410,000 after buying an additional 17,114 shares during the period. Capstone Asset Management Co. increased its holdings in G-III Apparel Group, LTD. by 3.6% in the 1st quarter. Capstone Asset Management Co. now owns 16,855 shares of the textile maker’s stock valued at $369,000 after buying an additional 579 shares during the period. Louisiana State Employees Retirement System increased its holdings in G-III Apparel Group, LTD. by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the textile maker’s stock valued at $390,000 after buying an additional 200 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in G-III Apparel Group, LTD. by 1.7% in the 1st quarter. State of Alaska Department of Revenue now owns 4,830 shares of the textile maker’s stock valued at $105,000 after buying an additional 80 shares during the period. 99.38% of the stock is currently owned by institutional investors and hedge funds.

G-III Apparel Group, LTD. Company Profile

G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.

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Analyst Recommendations for G-III Apparel Group, LTD. (NASDAQ:GIII)

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