G-III Apparel Group (NASDAQ:GIII) Sets New 12-Month High – Here’s What Happened

Shares of G-III Apparel Group, LTD. (NASDAQ:GIII) reached a new 52-week high on Tuesday . The company traded as high as $36.72 and last traded at $36.6690, with a volume of 17272 shares. The stock had previously closed at $35.93.

Analysts Set New Price Targets

GIII has been the subject of a number of research analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $38.00 price objective (up from $29.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. KeyCorp restated an “overweight” rating and set a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. Zacks Research downgraded shares of G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. BTIG Research increased their price target on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company a “buy” rating in a report on Friday, June 5th. Finally, Weiss Ratings upgraded shares of G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.00.

G-III Apparel Group Price Performance

The stock’s 50-day moving average price is $33.98 and its 200-day moving average price is $31.09. The company has a market cap of $1.54 billion, a P/E ratio of 12.90 and a beta of 1.28.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Friday, June 5th. The textile maker reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.09. The business had revenue of $535.96 million for the quarter, compared to analyst estimates of $529.07 million. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. G-III Apparel Group’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period last year, the firm earned $0.19 earnings per share. G-III Apparel Group has set its FY 2027 guidance at 2.150-2.250 EPS and its Q2 2027 guidance at 0.150-0.250 EPS. As a group, analysts expect that G-III Apparel Group, LTD. will post 2.24 EPS for the current fiscal year.

G-III Apparel Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Monday, June 22nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, June 22nd. G-III Apparel Group’s payout ratio is 14.13%.

Institutional Investors Weigh In On G-III Apparel Group

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of G-III Apparel Group by 107.7% in the 4th quarter. GAMMA Investing LLC now owns 941 shares of the textile maker’s stock valued at $27,000 after buying an additional 488 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of G-III Apparel Group during the 4th quarter worth approximately $34,000. Parallel Advisors LLC increased its stake in G-III Apparel Group by 231.9% in the fourth quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker’s stock valued at $52,000 after acquiring an additional 1,243 shares during the last quarter. Raymond James Financial Inc. bought a new position in G-III Apparel Group in the second quarter valued at approximately $41,000. Finally, Strs Ohio acquired a new position in G-III Apparel Group during the first quarter valued at approximately $77,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

About G-III Apparel Group

G-III Apparel Group, Ltd. is a global fashion company engaged in the design, sourcing, marketing and distribution of women’s and men’s apparel, outerwear, footwear, handbags and fashion accessories. Founded in 1956 and headquartered in New York City, the company has grown from an importer of ladies’ apparel into a diversified apparel business with a portfolio of owned and licensed brands.

The company’s product offerings span a broad spectrum of price points and styles, including formal and casual outerwear, sportswear, performance wear and contemporary fashion.