• Return to Headlines

Upgrade Alert for G-III Apparel (GIII)

By James Quinn

G-III Apparel (NASDAQ:GIII) was upgraded from Hold to Buy at Standpoint Research today. The stock closed yesterday at $29.60 on volume of 780,000 shares, above average daily volume of 649,000.

G-III Apparel (NASDAQ:GIII) has potential upside of 124.5% based on a current price of $29.60 and analysts' consensus price target of $66.44. The stock should run into initial resistance at its 50-day moving average (MA) of $48.90 and subsequent resistance at its 200-day MA of $54.19.

In the past 52 weeks, shares of G-III Apparel have traded between a low of $28.26 and a high of $73.93 and closed yesterday at $29.60, which is 5% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 0.7%.

G-III Apparel Group, Ltd. manufactures and distributes leather and non-leather outerwear apparel. The Company has fashion licenses with Kenneth Cole, Jones Apparel Group, Cole Haan, and Timberland. GIII own labels GIII, Siena Studio, Colebrook & Co, JLC, JL Colebrook, and ColeB. G-III also has licensing agreements with the NFL, NHL, NBA, and MLB.

SmarTrend recommended that its subscribers protect gains by selling shares of G-III Apparel on August 30th, 2016 by issuing a Downtrend alert when the shares were trading at $34.27. Since that call, shares of G-III Apparel have fallen 14.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades g-iii apparel

Ticker(s): GIII