G-III Apparel Group (NASDAQ:GIII) Sets New 1-Year High - Here's What Happened

G-III Apparel Group, Ltd. (NASDAQ:GIII - Get Free Report) 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 trading hands. The stock had previously closed at $34.65.

Analysts Set New Price Targets

A number of research analysts have weighed in on GIII shares. Barclays raised their target price on shares of G-III Apparel Group from $27.00 to $29.00 and gave the stock an "underweight" rating in a research note on Wednesday. KeyCorp boosted their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday. Guggenheim upped their target price on G-III Apparel Group from $36.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday. Telsey Advisory Group reiterated a "market perform" rating and set a $32.00 price target on shares of G-III Apparel Group in a report on Tuesday. Finally, StockNews.com raised shares of G-III Apparel Group from a "hold" rating to a "buy" rating in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $32.17.

G-III Apparel Group Trading Up 4.2 %

The business has a fifty day moving average price of $31.09 and a two-hundred day moving average price of $28.81. 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 9.48 and a beta of 2.14.

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

Insider Buying and Selling at G-III Apparel Group

In related news, CEO Morris Goldfarb sold 100,000 shares of the firm's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $31.59, for a total transaction of $3,159,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,990,085 shares in the company, valued at $126,046,785.15. This trade represents a 2.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.40% of the stock is owned by corporate insiders.

Institutional Trading of G-III Apparel Group

Hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in G-III Apparel Group during the 2nd quarter worth approximately $42,000. CWM LLC increased its position in shares of G-III Apparel Group by 115.0% during the second quarter. CWM LLC now owns 1,892 shares of the textile maker's stock worth $51,000 after acquiring an additional 1,012 shares during the period. Quarry LP acquired a new stake in shares of G-III Apparel Group in the third quarter valued at $63,000. Point72 DIFC Ltd purchased a new position in G-III Apparel Group in the second quarter valued at $78,000. Finally, Innealta Capital LLC acquired a new position in G-III Apparel Group during the 2nd quarter worth $124,000. Institutional investors and hedge funds own 92.13% of the company's stock.

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.