G-III Apparel Group (NASDAQ:GIII) Given New $34.00 Price Target at KeyCorp

G-III Apparel Group (NASDAQ:GIII) had its target price upped by KeyCorp from $32.00 to $34.00 in a research report report published on Friday morning, Benzinga reports. They currently have an overweight rating on the textile maker’s stock.

Other analysts have also recently issued reports about the stock. Barclays upped their price target on shares of G-III Apparel Group from $23.00 to $27.00 and gave the company an underweight rating in a research note on Friday. Telsey Advisory Group restated a market perform rating and set a $29.00 target price on shares of G-III Apparel Group in a research report on Thursday, September 5th. Finally, StockNews.com cut G-III Apparel Group from a buy rating to a hold rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, G-III Apparel Group currently has an average rating of Hold and an average price target of $28.80.

G-III Apparel Group Price Performance

G-III Apparel Group stock opened at $30.85 on Friday. The company has a current ratio of 3.79, a quick ratio of 2.62 and a debt-to-equity ratio of 0.26. The business’s 50 day simple moving average is $26.26 and its 200 day simple moving average is $27.69. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $35.68. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 8.08 and a beta of 2.19.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.79% and a net margin of 6.04%. The company had revenue of $644.80 million during the quarter, compared to the consensus estimate of $649.54 million. During the same quarter in the prior year, the company earned $0.40 EPS. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts forecast that G-III Apparel Group will post 4.01 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund Corp grew its stake in G-III Apparel Group by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock worth $1,033,000 after buying an additional 482 shares in the last quarter. Mutual Advisors LLC increased its stake in G-III Apparel Group by 1.0% in the first quarter. Mutual Advisors LLC now owns 49,317 shares of the textile maker’s stock valued at $1,431,000 after acquiring an additional 498 shares during the last quarter. SummerHaven Investment Management LLC raised its position in G-III Apparel Group by 1.4% during the second quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker’s stock valued at $1,023,000 after purchasing an additional 516 shares in the last quarter. Hsbc Holdings PLC lifted its stake in G-III Apparel Group by 1.1% during the fourth quarter. Hsbc Holdings PLC now owns 48,671 shares of the textile maker’s stock worth $1,640,000 after purchasing an additional 532 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in G-III Apparel Group by 7.4% during the first quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock worth $241,000 after purchasing an additional 572 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

About G-III Apparel Group

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.