G-III Apparel Group (NASDAQ:GIII) Shares Gap Up – Should You Buy?

G-III Apparel Group, Ltd. (NASDAQ:GIII)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $27.26, but opened at $27.96. G-III Apparel Group shares last traded at $27.34, with a volume of 38,579 shares.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GIII. Guggenheim increased their target price on G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. UBS Group lowered their price target on shares of G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Barclays lowered their target price on shares of G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating for the company in a research note on Tuesday, March 18th. Telsey Advisory Group reduced their price target on G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating on the stock in a research report on Friday, March 14th. Finally, StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $33.00.

G-III Apparel Group Price Performance

The firm’s fifty day moving average price is $28.68 and its 200 day moving average price is $30.46. The firm has a market capitalization of $1.21 billion, a PE ratio of 7.25 and a beta of 2.09. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, topping the consensus estimate of $0.97 by $0.30. The business had revenue of $839.50 million for the quarter, compared to analyst estimates of $808.59 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. As a group, equities analysts forecast that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current year.

Institutional Trading of G-III Apparel Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Phocas Financial Corp. increased its stake in shares of G-III Apparel Group by 84.4% during the fourth quarter. Phocas Financial Corp. now owns 234,020 shares of the textile maker’s stock worth $7,634,000 after purchasing an additional 107,082 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in G-III Apparel Group during the 4th quarter worth approximately $3,970,000. Public Employees Retirement System of Ohio acquired a new position in shares of G-III Apparel Group during the fourth quarter valued at approximately $68,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of G-III Apparel Group by 16.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 74,135 shares of the textile maker’s stock valued at $2,418,000 after acquiring an additional 10,320 shares in the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in shares of G-III Apparel Group in the fourth quarter worth approximately $217,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

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 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.