G-III Apparel Group (NASDAQ:GIII) Sees Strong Trading Volume – Still a Buy?

G-III Apparel Group, LTD. (NASDAQ:GIII) saw unusually-high trading volume on Thursday . Approximately 318,747 shares were traded during mid-day trading, a decline of 40% from the previous session’s volume of 534,828 shares.The stock last traded at $35.7910 and had previously closed at $35.21.

Analyst Ratings Changes

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

G-III Apparel Group Stock Performance

The stock has a market cap of $1.51 billion, a PE ratio of 12.68 and a beta of 1.28. The firm has a 50-day moving average price of $32.80 and a 200-day moving average price of $30.67.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Friday, June 5th. The textile maker reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.09. The company had revenue of $535.96 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $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, sell-side analysts anticipate that G-III Apparel Group, LTD. will post 2.24 EPS for the current fiscal year.

G-III Apparel Group Announces Dividend

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

Institutional Trading of G-III Apparel Group

Institutional investors and hedge funds have recently modified their holdings of the business. Phocas Financial Corp. boosted its stake in shares of G-III Apparel Group by 77.2% in the 4th quarter. Phocas Financial Corp. now owns 244,406 shares of the textile maker’s stock worth $7,078,000 after buying an additional 106,497 shares during the last quarter. AlphaQuest LLC increased its position in G-III Apparel Group by 251.4% during the fourth quarter. AlphaQuest LLC now owns 70,278 shares of the textile maker’s stock valued at $2,035,000 after acquiring an additional 50,279 shares during the last quarter. SG Americas Securities LLC lifted its holdings in G-III Apparel Group by 149.8% in the first quarter. SG Americas Securities LLC now owns 52,390 shares of the textile maker’s stock valued at $1,451,000 after acquiring an additional 31,420 shares during the period. Hsbc Holdings PLC boosted its position in G-III Apparel Group by 46.2% in the fourth quarter. Hsbc Holdings PLC now owns 128,096 shares of the textile maker’s stock worth $3,756,000 after purchasing an additional 40,485 shares during the last quarter. Finally, Landscape Capital Management L.L.C. grew its stake in shares of G-III Apparel Group by 34.8% during the 4th quarter. Landscape Capital Management L.L.C. now owns 110,435 shares of the textile maker’s stock valued at $3,198,000 after purchasing an additional 28,535 shares during the period. 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.