G-III Apparel Group (NASDAQ:GIII) Hits New 1-Year High – What’s Next?

G-III Apparel Group, Ltd. (NASDAQ:GIII)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $35.86 and last traded at $35.81, with a volume of 258955 shares changing hands. The stock had previously closed at $34.65.

Wall Street Analysts Forecast Growth

GIII has been the subject of a number of recent research reports. Telsey Advisory Group reiterated a “market perform” rating and set a $32.00 price objective on shares of G-III Apparel Group in a research report on Tuesday. KeyCorp raised their price target on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays boosted their price objective on shares of G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research report on Wednesday. StockNews.com upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Monday, December 2nd. Finally, Guggenheim boosted their price target on G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.17.

G-III Apparel Group Stock Up 3.8 %

The firm has a 50-day moving average of $30.97 and a two-hundred day moving average of $28.77. The company has a current ratio of 2.63, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.58 billion, a PE ratio of 9.09 and a beta of 2.14.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.33. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.78 EPS. On average, equities research analysts forecast that G-III Apparel Group, Ltd. will post 4.15 EPS for the current year.

Insider Buying and Selling

In other news, CEO Morris Goldfarb sold 67,014 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the completion of the transaction, the chief executive officer now directly owns 3,923,071 shares in the company, valued at approximately $118,869,051.30. This represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.40% of the stock is owned by corporate insiders.

Institutional Trading of G-III Apparel Group

A number of hedge funds and other institutional investors have recently modified their holdings of GIII. Point72 Asia Singapore Pte. Ltd. purchased a new stake in G-III Apparel Group during the 2nd quarter worth approximately $42,000. CWM LLC raised its holdings in G-III Apparel Group by 115.0% in the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after acquiring an additional 1,012 shares in the last quarter. Quarry LP bought a new position in G-III Apparel Group during the 3rd quarter valued at $63,000. Point72 DIFC Ltd acquired a new position in G-III Apparel Group during the 2nd quarter worth $78,000. Finally, Innealta Capital LLC acquired a new stake in shares of G-III Apparel Group in the 2nd quarter valued at about $124,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through 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.