G-III Apparel Group Ltd. (GIII) Sees Unusually-High Trading Volume
Shares of G-III Apparel Group Ltd. (NASDAQ:GIII) saw unusually-high trading volume on Thursday . Approximately 884,826 shares changed hands during trading, an increase of 75% from the previous session’s volume of 506,599 shares.The stock last traded at $41.60 and had previously closed at $43.21.
GIII has been the topic of a number of analyst reports. Piper Jaffray Cos. cut their price objective on shares of G-III Apparel Group to $48.00 in a research report on Thursday, June 2nd. Zacks Investment Research upgraded shares of G-III Apparel Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Brean Capital restated a “buy” rating and issued a $51.00 price target on shares of G-III Apparel Group in a report on Tuesday, July 26th. Stephens restated a “buy” rating on shares of G-III Apparel Group in a report on Thursday, May 12th. Finally, Telsey Advisory Group cut shares of G-III Apparel Group from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $54.00 to $45.00 in a report on Tuesday, July 26th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. G-III Apparel Group presently has a consensus rating of “Buy” and a consensus price target of $56.36.
The firm has a 50 day moving average price of $44.28 and a 200-day moving average price of $45.37. The firm has a market capitalization of $1.90 billion and a P/E ratio of 17.61.
G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Wednesday, June 1st. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The firm earned $457.40 million during the quarter, compared to analysts’ expectations of $473.22 million. During the same quarter in the previous year, the business posted $0.15 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities research analysts anticipate that G-III Apparel Group Ltd. will post $2.58 EPS for the current year.
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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