G-III Apparel Group (NASDAQ:GIII) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

G-III Apparel Group, LTD. (NASDAQ:GIII)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $30.92 and traded as high as $35.27. G-III Apparel Group shares last traded at $34.48, with a volume of 516,218 shares traded.

Wall Street Analyst Weigh In

GIII has been the subject of a number of research reports. Wall Street Zen upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. BTIG Research raised their price target on G-III Apparel Group from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $38.00 price objective (up from $29.00) on shares of G-III Apparel Group in a report on Monday, June 8th. KeyCorp reiterated an “overweight” rating and set a $40.00 price objective (up from $35.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. Finally, Weiss Ratings raised G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, G-III Apparel Group presently has an average rating of “Hold” and a consensus price target of $33.00.

G-III Apparel Group Stock Performance

The stock has a market cap of $1.47 billion, a P/E ratio of 12.35 and a beta of 1.28. The business’s 50-day moving average price is $33.54 and its 200-day moving average price is $30.95.

G-III Apparel Group (NASDAQ:GIII) last announced its 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 company had revenue of $535.96 million for the quarter, compared to analysts’ expectations of $529.07 million. G-III Apparel Group had a return on equity of 5.59% and a net margin of 4.34%.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 EPS. 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, equities research analysts expect that G-III Apparel Group, LTD. will post 2.24 earnings per share for the current year.

G-III Apparel Group Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in G-III Apparel Group by 107.7% in the 4th quarter. GAMMA Investing LLC now owns 941 shares of the textile maker’s stock worth $27,000 after acquiring an additional 488 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in G-III Apparel Group during the fourth quarter valued at approximately $34,000. Raymond James Financial Inc. bought a new position in shares of G-III Apparel Group in the second quarter worth approximately $41,000. Parallel Advisors LLC increased its stake in shares of 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 worth $52,000 after purchasing an additional 1,243 shares in the last quarter. Finally, Strs Ohio bought a new stake in shares of G-III Apparel Group during the 1st quarter valued at $77,000. 92.13% of the stock is currently owned by institutional investors.

G-III Apparel Group Company Profile

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.