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

G-III Apparel Group, Ltd. (NASDAQ:GIII)’s share price 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 traded.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GIII shares. 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. Telsey Advisory Group reiterated a “market perform” rating and set a $38.00 target price on shares of G-III Apparel Group in a research note on Wednesday, December 18th. Barclays raised their price target on G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research note on Wednesday, December 11th. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Friday. Finally, Guggenheim boosted their price objective on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Two 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $33.17.

G-III Apparel Group Trading Up 1.0 %

The firm has a market capitalization of $1.36 billion, a PE ratio of 8.11 and a beta of 2.09. The business’s 50-day moving average price is $31.89 and its 200-day moving average price is $29.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the company posted $2.78 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts expect that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

Institutional Trading of G-III Apparel Group

Institutional investors have recently modified their holdings of the business. Vestcor Inc lifted its holdings in G-III Apparel Group by 197.7% in the third quarter. Vestcor Inc now owns 31,323 shares of the textile maker’s stock valued at $956,000 after acquiring an additional 20,800 shares during the period. Geode Capital Management LLC lifted 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. Sanctuary Advisors LLC boosted its holdings in G-III Apparel Group by 8.4% during the third quarter. Sanctuary Advisors LLC now owns 14,564 shares of the textile maker’s stock worth $439,000 after buying an additional 1,126 shares in the last quarter. Jane Street Group LLC increased its holdings in G-III Apparel Group by 269.9% in the third quarter. Jane Street Group LLC now owns 251,146 shares of the textile maker’s stock valued at $7,665,000 after buying an additional 183,246 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of G-III Apparel Group by 4.9% during the 3rd quarter. Victory Capital Management Inc. now owns 92,136 shares of the textile maker’s stock valued at $2,812,000 after acquiring an additional 4,294 shares during the period. 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.