Buckingham Research Boosts G-III Apparel Group, LTD. (NASDAQ:GIII) Price Target to $30.00

G-III Apparel Group, LTD. (NASDAQ:GIII) had its target price boosted by stock analysts at Buckingham Research from $28.00 to $30.00 in a research note issued on Thursday, August 31st. The brokerage currently has a “buy” rating on the textile maker’s stock.

Several other research analysts have also weighed in on GIII. BidaskClub raised G-III Apparel Group, LTD. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Cowen and Company set a $23.00 price objective on G-III Apparel Group, LTD. and gave the stock a “hold” rating in a research report on Monday, August 14th. Telsey Advisory Group boosted their target price on G-III Apparel Group, LTD. from $24.00 to $27.00 and gave the company a “market perform” rating in a research report on Wednesday, June 7th. KeyCorp reaffirmed a “buy” rating and issued a $41.00 target price on shares of G-III Apparel Group, LTD. in a research report on Thursday, August 24th. Finally, Zacks Investment Research lowered G-III Apparel Group, LTD. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $32.82.

Shares of G-III Apparel Group, LTD. (NASDAQ:GIII) traded up 1.76% during trading on Thursday, reaching $30.00. The company had a trading volume of 1,006,960 shares. The stock has a 50 day moving average price of $26.92 and a 200 day moving average price of $24.31. The firm has a market capitalization of $1.46 billion, a PE ratio of 45.59 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.

G-III Apparel Group, LTD. (NASDAQ:GIII) last announced its earnings results on Wednesday, September 6th. The textile maker reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.11. G-III Apparel Group, LTD. had a return on equity of 4.65% and a net margin of 1.23%. The firm had revenue of $538.00 million for the quarter, compared to the consensus estimate of $522.45 million. During the same period in the previous year, the business earned $0.01 EPS. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. On average, equities research analysts forecast that G-III Apparel Group, LTD. will post $1.35 EPS for the current year.

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Several institutional investors have recently added to or reduced their stakes in GIII. BlackRock Inc. increased its holdings in shares of G-III Apparel Group, LTD. by 19,882.5% in the first quarter. BlackRock Inc. now owns 5,643,064 shares of the textile maker’s stock worth $123,528,000 after purchasing an additional 5,614,824 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of G-III Apparel Group, LTD. by 74.7% in the second quarter. Bank of New York Mellon Corp now owns 5,574,206 shares of the textile maker’s stock worth $139,077,000 after purchasing an additional 2,383,043 shares during the period. Victory Capital Management Inc. bought a new position in shares of G-III Apparel Group, LTD. in the second quarter worth $23,202,000. Dimensional Fund Advisors LP increased its holdings in shares of G-III Apparel Group, LTD. by 45.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,904,916 shares of the textile maker’s stock worth $72,478,000 after purchasing an additional 907,701 shares during the period. Finally, Phocas Financial Corp. bought a new position in shares of G-III Apparel Group, LTD. in the second quarter worth $13,037,000. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

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.

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

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