G-III Apparel Group (NASDAQ:GIII) Stock Price Expected to Rise, KeyCorp Analyst Says

G-III Apparel Group (NASDAQ:GIII) had its target price raised by KeyCorp from $34.00 to $40.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the textile maker’s stock.

Other equities analysts have also recently issued research reports about the company. Guggenheim assumed coverage on G-III Apparel Group in a research note on Wednesday, October 9th. They issued a “buy” rating and a $36.00 price objective for the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $32.00 price target on shares of G-III Apparel Group in a research note on Tuesday. Barclays boosted their price target on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Finally, StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Monday, December 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.17.

G-III Apparel Group Price Performance

G-III Apparel Group stock opened at $36.10 on Wednesday. The company has a quick ratio of 1.80, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. G-III Apparel Group has a 52-week low of $20.66 and a 52-week high of $36.18. The firm has a market cap of $1.58 billion, a PE ratio of 9.48 and a beta of 2.14. The company’s 50 day moving average is $31.09 and its two-hundred day moving average is $28.82.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.33. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.10 billion. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $2.78 earnings per share. On average, research analysts expect that G-III Apparel Group will post 4.15 EPS for the current fiscal year.

Insider Buying and Selling at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 100,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $31.59, for a total value of $3,159,000.00. Following the completion of the transaction, the chief executive officer now owns 3,990,085 shares in the company, valued at approximately $126,046,785.15. This represents a 2.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 12.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On G-III Apparel Group

A number of institutional investors and hedge funds have recently bought and sold shares of GIII. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of G-III Apparel Group during the second quarter worth about $42,000. CWM LLC boosted its position in shares of G-III Apparel Group by 115.0% in the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after purchasing an additional 1,012 shares during the period. Quarry LP purchased a new position in G-III Apparel Group during the 3rd quarter worth approximately $63,000. Point72 DIFC Ltd acquired a new position in G-III Apparel Group during the second quarter worth approximately $78,000. Finally, Innealta Capital LLC acquired a new position in G-III Apparel Group during the second quarter worth approximately $124,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Company Profile

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.