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

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

A number of other research analysts also recently issued reports on the stock. StockNews.com downgraded shares of G-III Apparel Group from a buy rating to a hold rating in a research report on Wednesday, July 24th. 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. Finally, Barclays boosted their target price 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. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $28.80.

G-III Apparel Group Price Performance

Shares of GIII opened at $32.18 on Friday. G-III Apparel Group has a twelve month low of $20.66 and a twelve month high of $35.68. The company has a 50 day moving average of $26.18 and a two-hundred day moving average of $27.77. The company has a quick ratio of 2.62, a current ratio of 3.79 and a debt-to-equity ratio of 0.26. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 8.42 and a beta of 2.24.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a net margin of 5.76% and a return on equity of 12.75%. The business had revenue of $644.80 million during the quarter, compared to the consensus estimate of $649.54 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, analysts predict that G-III Apparel Group will post 3.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of G-III Apparel Group during the first quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of G-III Apparel Group during the second quarter worth about $42,000. CWM LLC increased its stake in shares of G-III Apparel Group by 115.0% during the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $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 about $56,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of G-III Apparel Group during the second quarter worth about $78,000. Hedge funds and other 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.