G-III Apparel Group (NASDAQ:GIII) Sets New 52-Week High – Should You Buy?

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.

Analyst Ratings Changes

GIII has been the subject of several recent research reports. StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Monday, December 2nd. Guggenheim upped their target price on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays raised their price target 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. Telsey Advisory Group restated a “market perform” rating and set a $32.00 price target on shares of G-III Apparel Group in a report on Tuesday, December 10th. Finally, KeyCorp increased their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, G-III Apparel Group currently has an average rating of “Hold” and a consensus price target of $32.17.

G-III Apparel Group Price Performance

The firm has a market cap of $1.58 billion, a PE ratio of 9.48 and a beta of 2.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.80. The business’s fifty day moving average is $31.09 and its 200-day moving average is $28.81.

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

Insider Buying and Selling at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 100,000 shares of G-III Apparel Group stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $31.59, for a total value of $3,159,000.00. Following the completion of the transaction, the chief executive officer now owns 3,990,085 shares in the company, valued at $126,046,785.15. This trade represents a 2.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.40% of the company’s stock.

Institutional Trading of G-III Apparel Group

Institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in G-III Apparel Group during the 2nd quarter valued at $42,000. CWM LLC raised its stake in shares of G-III Apparel Group by 115.0% during the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after purchasing an additional 1,012 shares during the period. Quarry LP purchased a new stake in G-III Apparel Group during the 3rd quarter worth about $63,000. Point72 DIFC Ltd bought a new position in G-III Apparel Group in the 2nd quarter worth about $78,000. Finally, Innealta Capital LLC purchased a new position in G-III Apparel Group during the 2nd quarter valued at about $124,000. 92.13% of the stock is currently 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.