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

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) gapped up before the market opened 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 traded.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GIII. Guggenheim boosted their price target on G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Telsey Advisory Group dropped 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 note on Friday, March 14th. Barclays decreased their price objective on G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating for the company in a report on Tuesday, March 18th. KeyCorp upped their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, UBS Group reduced their price objective on shares of G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, G-III Apparel Group presently has a consensus rating of “Hold” and a consensus price target of $33.00.

G-III Apparel Group Price Performance

The stock has a market cap of $1.19 billion, a P/E ratio of 7.14 and a beta of 2.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. The business has a 50 day simple moving average of $28.54 and a 200-day simple moving average of $30.41.

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

Institutional Investors Weigh In On G-III Apparel Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AlphaQuest LLC purchased a new position in shares of G-III Apparel Group in the fourth quarter worth about $49,000. Smartleaf Asset Management LLC lifted its holdings in G-III Apparel Group by 249.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock worth $64,000 after purchasing an additional 1,412 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in G-III Apparel Group in the 4th quarter worth about $68,000. Quarry LP bought a new stake in shares of G-III Apparel Group during the third quarter valued at about $63,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of G-III Apparel Group by 93.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock worth $92,000 after buying an additional 1,460 shares in the last quarter. 92.13% of the stock is currently owned by 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.