G-III Apparel Group (NASDAQ:GIII) Shares Gap Up – Time to Buy?

G-III Apparel Group, Ltd. (NASDAQ:GIII) shares gapped up before the market opened on Wednesday . The stock had previously closed at $29.61, but opened at $30.38. G-III Apparel Group shares last traded at $31.10, with a volume of 30,790 shares traded.

Analyst Ratings Changes

A number of research analysts recently weighed in on GIII shares. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. KeyCorp lifted their price target on 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. Barclays increased their price objective on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Guggenheim initiated coverage on shares of G-III Apparel Group in a research note on Wednesday. They set a “buy” rating and a $36.00 target price on the stock. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $29.00 target price on shares of G-III Apparel Group in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, G-III Apparel Group presently has a consensus rating of “Hold” and an average price target of $30.00.

G-III Apparel Group Stock Performance

The firm has a fifty day moving average price of $28.03 and a 200 day moving average price of $27.80. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.40 billion, a PE ratio of 8.14 and a beta of 2.19.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $649.54 million. During the same period in the previous year, the firm earned $0.40 earnings per share. G-III Apparel Group’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts expect that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Morris Goldfarb sold 67,014 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the sale, the chief executive officer now directly owns 3,923,071 shares in the company, valued at approximately $118,869,051.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.40% of the stock is owned by insiders.

Institutional Trading of G-III Apparel Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Foundry Partners LLC purchased a new position in shares of G-III Apparel Group during the second quarter worth $518,000. SG Americas Securities LLC boosted its holdings in G-III Apparel Group by 114.0% during the 1st quarter. SG Americas Securities LLC now owns 36,349 shares of the textile maker’s stock valued at $1,054,000 after acquiring an additional 19,362 shares during the period. Hillsdale Investment Management Inc. acquired a new position in G-III Apparel Group in the 1st quarter valued at about $913,000. Caxton Associates LP increased its stake in G-III Apparel Group by 283.2% during the first quarter. Caxton Associates LP now owns 34,551 shares of the textile maker’s stock worth $1,002,000 after purchasing an additional 25,535 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of G-III Apparel Group by 167.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 53,814 shares of the textile maker’s stock worth $1,561,000 after purchasing an additional 33,690 shares in 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.