G-III Apparel Upgraded to Strong Buy - Analyst Blog
10 1월 2013 - 10:00PM
Zacks
On January 9, 2013, Zacks
Investment Research upgraded G-III Apparel Group,
Ltd. (GIII) to a Zacks Rank #1 (Strong Buy). The company
has amassed a solid return of roughly 50% over the past year.
Why the
Upgrade?
G-III Apparel has
been witnessing rising earnings estimates on the back of robust
third-quarter fiscal 2013 results and an upbeat guidance for fiscal
2013. Moreover, this apparel manufacturer and distributor
outperformed the Zacks Consensus Estimates in 3 of the last 5
quarters with an average beat of 15.6%.
G-III Apparel declared impressive
third-quarter fiscal 2013 results on December 5, wherein earnings
of $2.43 per share surpassed the Zacks Consensus Estimate of $2.31
by 5.2% and increased 12.5% from $2.16 earned in the prior-year
quarter buoyed by top-line growth. Net sales rose 6.6% year over
year to $543.5 million, but fell short of the Zacks Consensus
Estimate of $573 million.
The solid demand for its brands and
assortments, new business opportunities and increased penetration
provide upside potential. Management also expects to reinvigorate
growth through acquisitions, the latest in this league being the
acquisition of the leading luxury resort brand – Vilebrequin.
Based on its strong fundamentals,
management now projects fiscal 2013 earnings between $2.82 and
$2.92 per share, up from the previous forecast of $2.74 to
$2.84.
The Zacks Consensus Estimate for
fiscal 2013 rose 3.5% to $2.93 per share over the last 60 days, and
remains a penny above the upper end of the company’s guidance
range. For fiscal 2014, the Zacks Consensus Estimate advanced 3.1%
over the same timeframe to $3.32 per share.
Other Stocks to
Consider
Other stocks in the textile-apparel
sector that you could consider are Gildan Activewear
Inc. (GIL), Joe's Jeans Inc. (JOEZ) and
Michael Kors Holdings Ltd. (KORS), which hold a
Zacks Rank #1 (Strong Buy).
G-III APPAREL (GIII): Free Stock Analysis Report
GILDAN ACTVWEAR (GIL): Free Stock Analysis Report
JOES JEANS INC (JOEZ): Free Stock Analysis Report
MICHAEL KORS (KORS): Free Stock Analysis Report
To read this article on Zacks.com click here.
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