G-III Apparel Group (NASDAQ:GIII) Stock Price Up 5.7% – Time to Buy?

G-III Apparel Group, Ltd. (NASDAQ:GIII)’s stock price rose 5.7% on Monday . The company traded as high as $31.35 and last traded at $31.33. Approximately 152,761 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 558,128 shares. The stock had previously closed at $29.63.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Guggenheim began coverage on G-III Apparel Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 price target for the company. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $29.00 price objective on shares of G-III Apparel Group in a report on Thursday, September 5th. StockNews.com cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Barclays lifted their price target on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Finally, KeyCorp raised their price objective on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $30.00.

G-III Apparel Group Price Performance

The company has a 50-day moving average of $30.54 and a 200 day moving average of $28.48. The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $1.37 billion, a PE ratio of 7.41 and a beta of 2.19.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The company had revenue of $644.80 million during the quarter, compared to analysts’ expectations of $649.54 million. During the same quarter in the prior year, the company earned $0.40 EPS. G-III Apparel Group’s revenue was down 2.3% compared to the same quarter last year. Sell-side analysts predict that G-III Apparel Group, Ltd. will post 4.01 EPS for the current year.

Insider Transactions at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the sale, the chief executive officer now owns 3,923,071 shares of the company’s stock, valued at approximately $118,869,051.30. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On G-III Apparel Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GIII. Dimensional Fund Advisors LP lifted its stake in shares of G-III Apparel Group by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock valued at $91,396,000 after purchasing an additional 151,425 shares during the last quarter. American Century Companies Inc. boosted its stake in G-III Apparel Group by 15.6% during the second quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock worth $31,054,000 after buying an additional 155,079 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of G-III Apparel Group by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,036,158 shares of the textile maker’s stock valued at $31,624,000 after buying an additional 6,598 shares during the period. Geode Capital Management LLC boosted its stake in shares of G-III Apparel Group by 1.2% in the third quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock valued at $29,833,000 after purchasing an additional 11,196 shares during the period. Finally, LSV Asset Management increased its stake in G-III Apparel Group by 0.6% during the 2nd quarter. LSV Asset Management now owns 851,683 shares of the textile maker’s stock worth $23,055,000 after buying an additional 5,200 shares during the period. 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.