KeyCorp Raises G-III Apparel Group (NASDAQ:GIII) Price Target to $34.00

G-III Apparel Group (NASDAQ:GIII – Free Report) has raised its price target to $34.00 from $32.00 by KeyCorp in a research note released on Friday, Benzinga reports. They currently have an overweight rating on the textile manufacturer’s stock.

GIII has been the subject of a number of other reports. 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 report on Friday. StockNews.com lowered G-III Apparel Group from a buy rating to a hold rating in a research report on Wednesday, July 24th. Finally, Telsey Advisory Group reiterated a market perform rating and set a $29.00 price target on shares of G-III Apparel Group in a research note on Thursday. Two equities analysts have rated the stock with a sell rating, two have assigned a hold rating, and two have given the stock a buy rating. Based on data from MarketBeat, the firm currently has an average rating of Hold and a consensus price target of $28.80.

Check out our latest report on GIII

Price development G-III Apparel Group

Shares of NASDAQ GIII opened Friday at $32.18. The stock’s 50-day simple moving average is $26.18 and its 200-day simple moving average is $27.70. The company has a market cap of $1.45 billion, a price/earnings ratio of 8.42 and a beta of 2.19. G-III Apparel Group has a 52-week low of $20.66 and a 52-week high of $35.68. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.62 and a current ratio of 3.79.

G-III Apparel Group (NASDAQ:GIII – Get Free Report) last announced its quarterly results on Thursday, September 5. The textile manufacturer reported $0.52 EPS for the quarter, topping the consensus estimate of $0.27 by $0.25. The company had revenue of $644.80 million for the quarter, compared to analyst estimates of $649.54 million. G-III Apparel Group had a net margin of 5.76% and a return on equity of 12.75%. The company’s revenue was down 2.3% year-over-year. During the same period in the prior year, the company posted earnings per share of $0.40. As a group, equities research analysts predict that G-III Apparel Group will post 3.63 EPS for the current fiscal year.

Institutional investors weigh in on G-III Apparel Group

Several hedge funds have recently modified their positions in the company. Newbridge Financial Services Group Inc. acquired a new position in shares of G-III Apparel Group during the first quarter worth approximately $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of G-III Apparel Group during the second quarter worth approximately $42,000. CWM LLC increased its stake in shares of G-III Apparel Group by 115.0% in the second quarter. CWM LLC now owns 1,892 shares of the textile manufacturer’s stock worth approximately $51,000 after purchasing an additional 1,012 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of G-III Apparel Group during the fourth quarter worth approximately $56,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of G-III Apparel Group during the second quarter worth approximately $78,000. Institutional investors and hedge funds own 92.13% of the company’s shares.

Company Profile of G-III Apparel Group

(Get free report)

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

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