Telsey Advisory Group Boosts Rating On G-III Apparel Group, LTD. (GIII) To “Outperform”

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

On August 31 Buckingham maintained a stock rating of “Buy” but raised the price expectation from $28.00 to $30.00. On August 15 the company was rated “Hold” in a report from Standpoint Research a cut from the previous “Buy” rating.

On July 17, 2017 Buckingham issued its first research report on the stock with an initial rating of “Buy” and setting a price target of $28.00.

The company is down from yesterday’s close of 29.15. The stock last traded at $28.46 which is marginally over the 50 day moving average of $27.11 and quite a bit higher than the 200 day moving average of $24.34. The 50 day moving average moved up $1.35 whereas the 200 day moving average was up $4.12 or +16.90%.

G-III Apparel Group, Ltd. (G-III), launched on October 17, 1989, 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. The Company sells products under its own brands, including DKNY, Donna Karan, DKNY Jeans, Vilebrequin, G.H. Bass, Bass, Andrew Marc and Marc New York; licensed brands, and private retail labels. Its products are sold through retailers, such as Macy’s, Bloomingdale’s, Nordstrom, Lord & Taylor, Dillard’s, The Bon-Ton Stores, Saks Fifth Avenue and JC Penney..

The company’s P/E ratio is 43.25 and the market cap of the company is 1.39B. As of the latest earnings report the EPS was $0.66 and is projected to be $1.35 for the current year with 48,758,000 shares outstanding. Next quarter’s EPS is forecasted to be $0.16 and the next full year EPS is projected to be $1.96.

Investors are more bullish on shares of the company as shown by the change in short interest. The stock experienced a fall in short interest between August 15, 2017 and August 31, 2017 of -1.11%. Short interest decreased 104,790 over that period. Days to cover decreased -5.0 to 12.0 and the percentage of shorted shares was 0.19% on August 31.