G-III Apparel Group (NASDAQ:GIII) Given New $40.00 Price Target at KeyCorp

G-III Apparel Group (NASDAQ:GIII) had its price target boosted by equities research analysts at KeyCorp from $34.00 to $40.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the textile maker’s stock. KeyCorp’s target price would indicate a potential upside of 14.71% from the company’s current price.

Other equities analysts have also issued reports about the stock. Barclays boosted 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 report on Friday, September 6th. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Monday, December 2nd. Guggenheim initiated coverage on G-III Apparel Group in a report on Wednesday, October 9th. They set a “buy” rating and a $36.00 price target for the company. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $32.00 price target on shares of G-III Apparel Group in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.50.

G-III Apparel Group Stock Up 10.4 %

GIII opened at $34.87 on Wednesday. The company has a market capitalization of $1.53 billion, a PE ratio of 8.72 and a beta of 2.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. G-III Apparel Group has a fifty-two week low of $20.66 and a fifty-two week high of $35.68. The business has a 50-day moving average of $30.73 and a 200-day moving average of $28.68.

G-III Apparel Group (NASDAQ:GIII) last released 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. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the business earned $2.78 EPS. G-III Apparel Group’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts forecast that G-III Apparel Group will post 4.01 EPS for the current fiscal year.

Insider Transactions at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was 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 $126,046,785.15. This trade represents a 2.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.40% of the company’s stock.

Institutional Trading of G-III Apparel Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. grew its holdings in G-III Apparel Group by 7.4% during the third quarter. Franklin Resources Inc. now owns 55,131 shares of the textile maker’s stock worth $1,682,000 after purchasing an additional 3,806 shares during the period. Sanctuary Advisors LLC raised its position in shares of G-III Apparel Group by 8.4% in the third quarter. Sanctuary Advisors LLC now owns 14,564 shares of the textile maker’s stock valued at $439,000 after purchasing an additional 1,126 shares during the period. Virtu Financial LLC acquired a new stake in shares of G-III Apparel Group during the 3rd quarter worth about $211,000. Geode Capital Management LLC boosted its holdings in shares of G-III Apparel Group by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock worth $29,833,000 after buying an additional 11,196 shares during the period. Finally, Vestcor Inc raised its holdings in G-III Apparel Group by 197.7% in the 3rd quarter. Vestcor Inc now owns 31,323 shares of the textile maker’s stock valued at $956,000 after acquiring an additional 20,800 shares during the period. Institutional investors own 92.13% of the company’s stock.

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.