G-III Apparel Group (NASDAQ:GIII) Share Price Passes Above 200-Day Moving Average – What’s Next?

G-III Apparel Group, Ltd. (NASDAQ:GIII) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $29.58 and traded as high as $31.30. G-III Apparel Group shares last traded at $30.59, with a volume of 353,321 shares changing hands.

Analyst Ratings Changes

A number of analysts have commented on the company. KeyCorp lifted their price target on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 target price on shares of G-III Apparel Group in a research report on Wednesday, December 18th. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Friday. Guggenheim lifted their price target on G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Barclays upped their price target on G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a report on Wednesday, December 11th. 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. Based on data from MarketBeat, G-III Apparel Group has an average rating of “Hold” and a consensus price target of $33.17.

G-III Apparel Group Stock Performance

The company has a market cap of $1.36 billion, a PE ratio of 8.11 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 firm’s 50 day moving average is $31.89 and its 200-day moving average is $29.62.

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, beating the consensus estimate of $2.26 by $0.33. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the business earned $2.78 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. On average, research analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On G-III Apparel Group

Several large investors have recently modified their holdings of GIII. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of G-III Apparel Group during the 2nd quarter worth about $42,000. Quarry LP acquired a new position in G-III Apparel Group during the third quarter worth $63,000. Point72 DIFC Ltd purchased a new position in shares of G-III Apparel Group during the second quarter worth $78,000. CWM LLC grew its stake in shares of G-III Apparel Group by 46.8% in the third quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock valued at $85,000 after buying an additional 885 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of G-III Apparel Group in the 3rd quarter valued at $152,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

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.