G-III Apparel Group Trading Up 4% on Strong Earnings (GIII)
G-III Apparel Group (NASDAQ:GIII)’s share price was up 4% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings, American Banking News reports. The company traded as high as $92.00 and last traded at $87.57, with a volume of 366,676 shares. The stock had previously closed at $84.18.
The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.16 by $0.13. The company had revenue of $424.00 million for the quarter. During the same quarter last year, the company posted $0.17 earnings per share. G-III Apparel Group’s revenue was up 39.4% compared to the same quarter last year.
A number of analysts have recently weighed in on GIII shares. Analysts at Wunderlich initiated coverage on shares of G-III Apparel Group in a research note on Friday, August 15th. They set a “buy” rating and a $92.00 price target on the stock. Separately, analysts at Cowen and Company raised their price target on shares of G-III Apparel Group from $86.00 to $90.00 in a research note on Thursday, July 17th. They now have an “outperform” rating on the stock. Finally, analysts at Barclays reiterated an “overweight” rating on shares of G-III Apparel Group in a research note on Friday, June 27th. They now have a $92.00 price target on the stock, up previously from $85.00. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $90.86.
The stock’s 50-day moving average is $80.46 and its 200-day moving average is $76.15. The company has a market cap of $1.790 billion and a price-to-earnings ratio of 22.79.
G-III Apparel Group, Ltd. (NASDAQ:GIII) designs, manufactures and markets a range of apparel, including outerwear, dresses, sportswear, women’s suits and women’s performance wear, as well as luggage and women’s handbags, small leather goods and cold weather accessories.
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