Zacks Investment Research upgraded shares of G-III Apparel Group (NASDAQ:GIII) from a sell rating to a hold rating in a report released on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $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.”

A number of other equities research analysts have also weighed in on the company. Telsey Advisory Group lowered G-III Apparel Group from an outperform rating to a market perform rating and cut their price objective for the stock from $34.00 to $20.00 in a research report on Tuesday, September 3rd. Piper Jaffray Companies lifted their price objective on G-III Apparel Group from $22.00 to $25.00 and gave the stock a neutral rating in a research report on Thursday, September 12th. Wells Fargo & Co began coverage on G-III Apparel Group in a research report on Monday, September 23rd. They issued a market perform rating and a $26.00 price objective on the stock. B. Riley cut their price objective on G-III Apparel Group from $37.00 to $33.00 and set a buy rating on the stock in a research report on Friday, September 6th. Finally, BidaskClub upgraded G-III Apparel Group from a sell rating to a hold rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $29.50.

Shares of GIII stock opened at $29.23 on Wednesday. The firm has a market cap of $1.37 billion, a P/E ratio of 10.22, a P/E/G ratio of 1.44 and a beta of 1.52. G-III Apparel Group has a fifty-two week low of $18.18 and a fifty-two week high of $44.36. The business’s 50 day moving average price is $25.67 and its 200-day moving average price is $27.61. 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 (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. The firm 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%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $0.22 EPS. As a group, equities analysts predict that G-III Apparel Group will post 3.19 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FTB Advisors Inc. lifted its stake in shares of G-III Apparel Group by 43.2% in the 3rd quarter. FTB Advisors Inc. now owns 1,320 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 398 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of G-III Apparel Group by 2.6% in the 3rd quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the textile maker’s stock valued at $410,000 after purchasing an additional 400 shares during the period. Zions Bancorporation N.A. lifted its stake in shares of G-III Apparel Group by 5.5% in the 2nd quarter. Zions Bancorporation N.A. now owns 7,931 shares of the textile maker’s stock valued at $233,000 after purchasing an additional 415 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of G-III Apparel Group by 5.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 9,960 shares of the textile maker’s stock valued at $293,000 after purchasing an additional 519 shares during the period. Finally, Bank of Montreal Can lifted its stake in shares of G-III Apparel Group by 1.4% in the 2nd quarter. Bank of Montreal Can now owns 42,909 shares of the textile maker’s stock valued at $1,262,000 after purchasing an additional 574 shares during the period.

About G-III Apparel Group

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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