G-III Apparel Group (NASDAQ:GIII) Stock Price Breaks Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• G-III Apparel Group shares rose above their 200-day moving average, reaching $31.48 before closing at $31.43, compared with the long-term average of $30.85.
• Analyst sentiment remains cautious: two analysts rate the stock a Buy and four rate it Hold, producing an overall “Hold” rating with an average price target of $34.75.
• The company exceeded quarterly EPS expectations but reported revenue below forecasts and a 9.7% year-over-year decline; it also maintains a $0.40 annual dividend, yielding approximately 1.3%.

G-III Apparel Group, LTD. (NASDAQ:GIII - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $30.85 and traded as high as $31.48. G-III Apparel Group shares last traded at $31.43, with a volume of 454,557 shares changing hands.

Analyst Ratings Changes

GIII has been the subject of several research analyst reports. BTIG Research reaffirmed a "buy" rating and issued a $40.00 price objective on shares of G-III Apparel Group in a report on Wednesday, September 2nd. Telsey Advisory Group reduced their price objective on G-III Apparel Group from $38.00 to $32.00 and set a "market perform" rating for the company in a research note on Thursday, September 3rd. Weiss Ratings cut G-III Apparel Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, October 26th. Zacks Research lowered G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 14th. Finally, UBS Group reaffirmed a "neutral" rating and set a $27.00 target price (up from $26.00) on shares of G-III Apparel Group in a research report on Friday, October 2nd. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $34.75.

G-III Apparel Group Price Performance

The firm's fifty day simple moving average is $28.76 and its 200 day simple moving average is $30.85. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 10.34 and a beta of 1.28.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings results on Wednesday, September 2nd. The textile maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. The business had revenue of $554.09 million for the quarter, compared to analyst estimates of $570.37 million. G-III Apparel Group had a net margin of 4.75% and a return on equity of 5.53%. The firm's revenue was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share. G-III Apparel Group has set its Q3 2027 guidance at 1.350-1.450 EPS and its FY 2027 guidance at 2.200-2.300 EPS. Equities research analysts forecast that G-III Apparel Group, LTD. will post 2.25 earnings per share for the current fiscal year.

G-III Apparel Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 15th. G-III Apparel Group's payout ratio is 13.16%.

Insider Activity

In other G-III Apparel Group news, CEO Morris Goldfarb bought 40,000 shares of G-III Apparel Group stock in a transaction dated Monday, September 14th. The stock was bought at an average price of $27.94 per share, for a total transaction of $1,117,600.00. Following the completion of the acquisition, the chief executive officer directly owned 4,527,675 shares of the company's stock, valued at approximately $126,503,239.50. This trade represents a 0.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GIII. BlackRock Inc. purchased a new stake in shares of G-III Apparel Group in the second quarter worth approximately $232,832,000. Bank of America Corp DE acquired a new stake in shares of G-III Apparel Group during the second quarter worth approximately $14,963,000. Bank of New York Mellon Corp purchased a new position in G-III Apparel Group during the second quarter valued at approximately $9,113,000. Empowered Funds LLC purchased a new position in G-III Apparel Group during the second quarter valued at approximately $7,094,000. Finally, Edgestream Partners L.P. purchased a new position in G-III Apparel Group during the first quarter valued at approximately $5,756,000. Hedge funds and other institutional investors own 92.13% of the company's stock.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. is a global fashion company that designs, sources, and markets apparel, accessories, footwear, handbags, and related products for women, men, and children. Its portfolio includes owned brands such as DKNY, Donna Karan, and Karl Lagerfeld, along with products developed under licensing and strategic brand relationships.

The company distributes its products through department stores, specialty retailers, mass-market retailers, company-operated stores, and e-commerce channels.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.