G-III Apparel Group, LTD. (NASDAQ:GIII – Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $37.54 and last traded at $37.1480, with a volume of 26487 shares trading hands. The stock had previously closed at $36.41.
Analyst Ratings Changes
Several research analysts have commented on the stock. Telsey Advisory Group reissued a “market perform” rating and set a $38.00 price target (up from $29.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. BTIG Research upped their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Zacks Research lowered shares of G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Wall Street Zen upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Finally, KeyCorp reissued an “overweight” rating and issued a $40.00 price target (up from $35.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, G-III Apparel Group presently has an average rating of “Hold” and a consensus price target of $33.00.
Check Out Our Latest Analysis on G-III Apparel Group
G-III Apparel Group Trading Up 0.6%
G-III Apparel Group (NASDAQ:GIII – Get Free Report) last released its quarterly earnings data on Friday, June 5th. The textile maker reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.09. The firm had revenue of $535.96 million during the quarter, compared to analyst estimates of $529.07 million. G-III Apparel Group had a return on equity of 5.59% and a net margin of 4.34%.The business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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, equities analysts anticipate that G-III Apparel Group, LTD. will post 2.24 earnings per share for the current year.
G-III Apparel Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Monday, June 22nd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, June 22nd. G-III Apparel Group’s dividend payout ratio is currently 14.13%.
Institutional Investors Weigh In On G-III Apparel Group
Several institutional investors have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. bought a new stake in G-III Apparel Group in the 4th quarter worth $34,000. Parallel Advisors LLC raised its stake in shares of G-III Apparel Group by 231.9% during 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 shares of G-III Apparel Group during the second quarter valued at about $41,000. Strs Ohio purchased a new stake in shares of G-III Apparel Group during the first quarter worth about $77,000. Finally, State of Wyoming boosted its holdings in shares of G-III Apparel Group by 102.6% during the fourth quarter. State of Wyoming now owns 4,817 shares of the textile maker’s stock worth $140,000 after purchasing an additional 2,439 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.
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.
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