KeyCorp Forecasts Strong Price Appreciation for G-III Apparel Group (NASDAQ:GIII) Stock

G-III Apparel Group (NASDAQ:GIII - Get Free Report) had its price target raised by equities researchers at KeyCorp from $34.00 to $40.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the textile maker's stock. KeyCorp's price objective indicates a potential upside of 13.60% from the stock's previous close.

Several other analysts have also recently issued reports on the stock. Barclays boosted their price objective 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. StockNews.com upgraded G-III Apparel Group from a "hold" rating to a "buy" rating in a research note on Monday, December 2nd. Telsey Advisory Group reiterated a "market perform" rating and set a $32.00 target price on shares of G-III Apparel Group in a report on Tuesday. Finally, Guggenheim initiated coverage on shares of G-III Apparel Group in a report on Wednesday, October 9th. They issued a "buy" rating and a $36.00 price target on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, G-III Apparel Group has a consensus rating of "Hold" and a consensus price target of $32.17.

G-III Apparel Group Price Performance

Shares of G-III Apparel Group stock traded up $0.34 during trading on Wednesday, hitting $35.21. 780,404 shares of the company were exchanged, compared to its average volume of 561,813. G-III Apparel Group has a fifty-two week low of $20.66 and a fifty-two week high of $35.68. The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average price of $30.73 and a 200 day moving average price of $28.68. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 9.27 and a beta of 2.14.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) 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 the consensus estimate of $1.10 billion. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The company's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.78 earnings per share. On average, equities analysts expect that G-III Apparel Group will post 4.01 earnings per share for the current fiscal year.

Insider Activity

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group stock in a transaction that occurred 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 sale, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.40% of the company's stock.

Institutional Trading of G-III Apparel Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of G-III Apparel Group in the 2nd quarter worth about $42,000. CWM LLC raised its stake in G-III Apparel Group by 115.0% during the second quarter. CWM LLC now owns 1,892 shares of the textile maker's stock valued at $51,000 after buying an additional 1,012 shares in the last quarter. Quarry LP bought a new position in G-III Apparel Group during the 3rd quarter worth approximately $63,000. Point72 DIFC Ltd acquired a new position in shares of G-III Apparel Group in the 2nd quarter worth approximately $78,000. Finally, Innealta Capital LLC bought a new stake in shares of G-III Apparel Group in the 2nd quarter valued at approximately $124,000. 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.