G-III Apparel Group (NASDAQ:GIII) Price Target Raised to $38.00

G-III Apparel Group (NASDAQ:GIII) had its price target raised by Guggenheim from $36.00 to $38.00 in a research note published on Wednesday,Benzinga reports. Guggenheim currently has a buy rating on the textile maker’s stock.

GIII has been the subject of a number of other research reports. Telsey Advisory Group reissued a “market perform” rating and set a $32.00 target price on shares of G-III Apparel Group in a research report on Tuesday. KeyCorp increased their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday. Barclays upped their target price on 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. Finally, StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Monday, December 2nd. Two research 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’s stock. According to MarketBeat, G-III Apparel Group has an average rating of “Hold” and an average target price of $32.17.

G-III Apparel Group Stock Up 4.2 %

Shares of NASDAQ GIII opened at $36.10 on Wednesday. G-III Apparel Group has a 12-month low of $20.66 and a 12-month high of $36.18. The stock’s fifty day simple moving average is $31.09 and its two-hundred day simple moving average is $28.82. The stock has a market capitalization of $1.58 billion, a PE ratio of 9.48 and a beta of 2.14. The company has a current ratio of 2.63, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.33. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. 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 earnings per share. As a group, analysts expect that G-III Apparel Group will post 4.15 EPS for the current fiscal year.

Insider Buying and Selling

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 shares were sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the completion of the sale, the chief executive officer now directly owns 3,923,071 shares in the company, valued at approximately $118,869,051.30. The trade was a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Foundry Partners LLC acquired a new stake in G-III Apparel Group during the 2nd quarter worth about $518,000. Vestcor Inc raised its position in G-III Apparel Group by 197.7% during the third 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 in the last quarter. Victory Capital Management Inc. lifted its holdings in G-III Apparel Group by 4.9% in the third quarter. Victory Capital Management Inc. now owns 92,136 shares of the textile maker’s stock valued at $2,812,000 after acquiring an additional 4,294 shares during the period. Point72 DIFC Ltd boosted its position in G-III Apparel Group by 103.2% in the 3rd quarter. Point72 DIFC Ltd now owns 5,821 shares of the textile maker’s stock worth $178,000 after purchasing an additional 2,957 shares in the last quarter. Finally, F M Investments LLC purchased a new stake in G-III Apparel Group in the 2nd quarter worth approximately $6,796,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

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.