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

G-III Apparel Group, Ltd. (NASDAQ:GIII - Get Free Report) 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 trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays cut their price objective on shares of G-III Apparel Group from $29.00 to $25.00 and set an "underweight" rating on the stock in a research note on Tuesday, March 18th. KeyCorp lifted their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. StockNews.com upgraded G-III Apparel Group from a "hold" rating to a "buy" rating in a research note on Wednesday, March 26th. Guggenheim raised their target price 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. Finally, UBS Group decreased their price target on 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 research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $33.00.

Remove Ads

G-III Apparel Group Trading Up 0.2 %

The stock has a market cap of $1.20 billion, a PE ratio of 7.16 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 company has a 50 day moving average of $28.54 and a two-hundred day moving average of $30.41.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.30. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business 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 company posted $0.76 EPS. The business's quarterly revenue was up 9.8% on a year-over-year basis. Sell-side 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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in shares of G-III Apparel Group by 513.2% during the fourth quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker's stock worth $18,430,000 after purchasing an additional 472,862 shares in the last quarter. Marshall Wace LLP raised its position in shares of G-III Apparel Group by 80.6% in the fourth quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker's stock valued at $24,989,000 after buying an additional 341,870 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of G-III Apparel Group in the fourth quarter valued at about $7,628,000. Point72 Asset Management L.P. lifted its stake in shares of G-III Apparel Group by 111.7% in the fourth quarter. Point72 Asset Management L.P. now owns 381,126 shares of the textile maker's stock worth $12,432,000 after buying an additional 201,126 shares in the last quarter. Finally, Barclays PLC boosted its position in G-III Apparel Group by 236.4% during the third quarter. Barclays PLC now owns 282,661 shares of the textile maker's stock worth $8,627,000 after acquiring an additional 198,647 shares during the last quarter. Hedge funds and other institutional investors 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.