G-III Apparel Group (NASDAQ:GIII) Price Target Raised to $40.00

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

A number of other research analysts have also weighed in on GIII. Barclays raised 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, September 6th. Guggenheim assumed coverage on G-III Apparel Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 target price on the stock. 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. Finally, StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.17.

G-III Apparel Group Stock Up 4.2 %

G-III Apparel Group stock opened at $36.10 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.80. The stock has a market capitalization of $1.58 billion, a PE ratio of 9.48 and a beta of 2.14. The business has a 50 day simple moving average of $31.09 and a 200-day simple moving average of $28.82. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $36.18.

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

Insiders Place Their Bets

In other news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the transaction, the chief executive officer now owns 3,923,071 shares in the company, valued at $118,869,051.30. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On G-III Apparel Group

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

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.