G-III Apparel Group, Ltd. (NASDAQ:GIII) is among the top losers of the stock market today, sinking -3.5% or (-0.96 points) to $26.5 from its previous close of $27.46. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 347178 contracts so far this session. GIII shares had a relatively better volume day versus average trading capacity of 784.57 thousand shares, but with a 44.88 million float and a -5.28% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for GIII stock indicates that the average analyst price target is $38.11 per share. This means the stock has a potential increase of 43.81% from where the GIII share price has been trading recently which is between $27.2355 and $27.84. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $29.
The shorts are climbing into G-III Apparel Group, Ltd. (GIII) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in GIII shares. While short interest still represents only 12.27% of GIII’s float, the number of shares shorted have risen by 40972. The number of shares shorted advanced to 5548008 shares, up from 5507036 shares during the preceding fortnight. With average daily trading volumes at 1099284 shares, days to cover increased to about 4.438599 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Is G-III Apparel Group, Ltd.’s (NASDAQ:GIII) P/E Ratio Really That Good?” and dated July 03, 2019.
During the recent trading session for G-III Apparel Group, Ltd. (NASDAQ:GIII), the company witnessed their stock drop by $-2.46 over a week and surge $1.77 from the price 20 days ago. When compared to their established 52-week high of $50.83, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/09/18. The recent low of $23.34 stood for a -47.87% since 06/06/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.38 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for G-III Apparel Group, Ltd., the two-week RSI stands at 38.82. This figure suggests that GIII stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current GIII readings is similarly very revealing as it has a stochastic reading of 17.45% at this stage. This figure means that GIII share price today is being overbought.
Technical chart claims that G-III Apparel Group, Ltd. (GIII) would settle between $27.79/share to $28.12/share level. However, if the stock price goes below the $27.18 mark, then the market for G-III Apparel Group, Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $26.91 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -1.27. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Telsey Advisory Group lifted target price for shares of GIII but were stick to Outperform recommendation for the stock in their opinion released on June 06. The price target has been raised from $47 to $34. Piper Jaffray analysts have lowered their rating of G-III Apparel Group, Ltd. (NASDAQ:GIII) stock from Overweight to Neutral in a separate flash note issued to investors on May 14. Analysts at Needham are sticking to their Buy stance. However, on March 22, they lifted price target for these shares to $55 from $50.
GIII equity has an average rating of 1.89, with the figure leaning towards a bullish end. 9 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 8 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 8 analysts rated G-III Apparel Group, Ltd. (NASDAQ:GIII) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, GIII stock price is currently trading at 7.74X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.55 while for the average stock in the same group, the multiple is 2.93. G-III Apparel Group, Ltd. current P/E ratio of 41 means it is trading at a premium against its industry’s 24.59. In the past 5 years, this ratio for the stock has been fluctuating between 12.8 and 23.96.
G-III Apparel Group, Ltd. (GIII)’s current-quarter revenues are projected to climb by nearly 5.53% to hit $659240, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 6.18% from $3.08 billion to a noteworthy $3.27 billion. At the other end of the current quarter income statement, G-III Apparel Group, Ltd. is expected to see its adjusted earnings surge by roughly 4.55% to hit $0.23 per share. For the fiscal year, GIII’s earnings are projected to climb by roughly 14.34% to hit $3.27 per share.