G-III Apparel Group Ltd. (GIII) Sees Unusually-High Trading Volume
G-III Apparel Group Ltd. (NASDAQ:GIII) shares saw strong trading volume on Tuesday . 2,535,761 shares changed hands during mid-day trading, an increase of 320% from the previous session’s volume of 603,364 shares.The stock last traded at $39.88 and had previously closed at $42.95.
Several equities research analysts recently weighed in on the stock. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $51.00 price objective on shares of G-III Apparel Group in a research report on Monday, May 2nd. Brean Capital assumed coverage on shares of G-III Apparel Group in a report on Tuesday, June 21st. They issued a “buy” rating and a $51.00 target price for the company. Zacks Investment Research raised shares of G-III Apparel Group from a “sell” rating to a “hold” rating in a report on Friday, June 24th. Cowen and Company cut shares of G-III Apparel Group from an “outperform” rating to a “market perform” rating in a report on Tuesday. Finally, Telsey Advisory Group cut shares of G-III Apparel Group from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $54.00 to $45.00 in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $57.69.
The stock’s 50-day moving average price is $45.83 and its 200 day moving average price is $46.04. The firm has a market capitalization of $1.80 billion and a price-to-earnings ratio of 16.69.
G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Wednesday, June 1st. The company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. During the same period last year, the firm earned $0.15 earnings per share. The firm had revenue of $457.40 million for the quarter, compared to the consensus estimate of $473.22 million. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts expect that G-III Apparel Group Ltd. will post $2.58 earnings per share for the current year.
Other large investors have recently modified their holdings of the company. State of Tennessee Treasury Department raised its stake in shares of G-III Apparel Group by 46.0% in the fourth quarter. State of Tennessee Treasury Department now owns 98,100 shares of the company’s stock worth $4,342,000 after buying an additional 30,900 shares during the period. Jennison Associates LLC raised its stake in shares of G-III Apparel Group by 14.3% in the fourth quarter. Jennison Associates LLC now owns 1,554,963 shares of the company’s stock worth $68,823,000 after buying an additional 194,028 shares during the period. Hodges Capital Management Inc. raised its stake in shares of G-III Apparel Group by 5.9% in the fourth quarter. Hodges Capital Management Inc. now owns 386,401 shares of the company’s stock worth $17,102,000 after buying an additional 21,521 shares during the period. Marshall Wace LLP purchased a new stake in shares of G-III Apparel Group during the fourth quarter worth $5,097,000. Finally, UBS Oconnor LLC purchased a new stake in shares of G-III Apparel Group during the fourth quarter worth $5,754,000.
G-III Apparel Group, Ltd. (G-III) designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations, which consists of its licensed products and non-licensed products, and includes sales of products under brands licensed by the Company from third parties, as well as sales of products under its own brands and private label brands, and retail operations, which consists of the Wilsons Leather and G.H.
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