G-III Apparel Group (NASDAQ:GIII) Hits New 12-Month High at $28.67

G-III Apparel Group, Ltd. (NASDAQ:GIII) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $28.67 and last traded at $28.58, with a volume of 192136 shares changing hands. The stock had previously closed at $28.06.

Wall Street Analyst Weigh In

GIII has been the subject of several research analyst reports. Barclays increased their target price on shares of G-III Apparel Group from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Friday, September 8th. Wells Fargo & Company increased their target price on shares of G-III Apparel Group from $19.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, September 8th. UBS Group increased their target price on shares of G-III Apparel Group from $21.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, September 8th. KeyCorp increased their target price on shares of G-III Apparel Group from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, September 8th. Finally, Telsey Advisory Group increased their target price on shares of G-III Apparel Group from $22.00 to $24.00 in a research note on Friday, September 8th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $23.14.

G-III Apparel Group Trading Up 1.9 %

The company has a quick ratio of 1.28, a current ratio of 2.57 and a debt-to-equity ratio of 0.29. The business’s fifty day simple moving average is $25.17 and its two-hundred day simple moving average is $21.37. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -7.23 and a beta of 2.53.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, September 7th. The textile maker reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.39. G-III Apparel Group had a negative net margin of 5.64% and a positive return on equity of 7.63%. The company had revenue of $659.80 million for the quarter, compared to analysts’ expectations of $591.39 million. During the same quarter last year, the company earned $0.39 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities analysts predict that G-III Apparel Group, Ltd. will post 3.27 EPS for the current year.

Insider Activity

In other news, Director Alan Feller sold 10,000 shares of G-III Apparel Group stock in a transaction on Monday, September 11th. The shares were sold at an average price of $24.04, for a total value of $240,400.00. Following the transaction, the director now directly owns 29,357 shares of the company’s stock, valued at approximately $705,742.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Alan Feller sold 10,000 shares of G-III Apparel Group stock in a transaction on Monday, September 11th. The shares were sold at an average price of $24.04, for a total value of $240,400.00. Following the transaction, the director now directly owns 29,357 shares in the company, valued at approximately $705,742.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Laura H. Pomerantz sold 10,904 shares of G-III Apparel Group stock in a transaction on Monday, October 16th. The shares were sold at an average price of $24.21, for a total transaction of $263,985.84. Following the completion of the transaction, the director now owns 20,166 shares in the company, valued at $488,218.86. The disclosure for this sale can be found here. Corporate insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On G-III Apparel Group

Several institutional investors have recently made changes to their positions in GIII. Madison Avenue Partners LP purchased a new stake in shares of G-III Apparel Group during the 4th quarter worth $25,716,000. Towle & Co. raised its stake in shares of G-III Apparel Group by 3,968.1% during the 2nd quarter. Towle & Co. now owns 1,315,620 shares of the textile maker’s stock worth $25,352,000 after buying an additional 1,283,280 shares during the last quarter. Wasatch Advisors Inc. acquired a new position in shares of G-III Apparel Group during the 1st quarter worth $28,890,000. Goldman Sachs Group Inc. raised its stake in shares of G-III Apparel Group by 632.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 572,830 shares of the textile maker’s stock worth $11,038,000 after buying an additional 494,623 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of G-III Apparel Group during the 4th quarter worth $6,479,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

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.