Thanks to those rising estimates, you can still get this Zacks #1 Rank (Strong Buy) at a very good price.

Company Description

G-III Apparel makes clothing for the whole family under several well-known brands. Recognizable names include Tommy Hilfiger, Levi's, Dockers, Calvin Klein and several others.

Estimates are Up

Since G-III Apparel was featured back in late July, the full-year Zacks Consensus Estimates have spiked. Forecasts for this year are up 37 cents, to $2.70, which is a 55% increase over fiscal 2010's $1.74.

Projections for fiscal 2012 jumped 40 cents, to $3.09, which is good enough for a 15% growth rate.

A Great Quarter

The huge increases came on the heels of the Sep 1 earnings surprise. Earnings per share came in at 15 cents, which was miles ahead of the 2 cent loss analysts were expecting.

Sales surged 39% to $189 million, up from $136 million a year ago. In addition to the fantastic results, the company also raised its full-year guidance. Analyst estimates are coming in at the high end of the range.

Trading at a Discount

One share of GIII will run you just 11 times forward estimates. And if you factor in the growth you have an even better value, with a PEG of only 0.6.

The Chart

Each line below represents a full-year Zacks Consensus Estimate. You can see that G-III Apparel has made a huge come back from the depths of the recession and if that trend continues, shares will follow.

Read the July 30th Feature Here

Bill Wilton is the Aggressive Growth Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Small Cap Trader service

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