KeyCorp Lowers G-III Apparel Group (NASDAQ:GIII) Price Target to $45.00

G-III Apparel Group (NASDAQ:GIII) had its price target reduced by stock analysts at KeyCorp from $52.00 to $45.00 in a report released on Thursday, June 6th, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the textile maker’s stock. KeyCorp’s price objective would suggest a potential upside of 51.31% from the company’s previous close. KeyCorp also issued estimates for G-III Apparel Group’s FY2020 earnings at $3.30 EPS, Q2 2021 earnings at $0.31 EPS, Q3 2021 earnings at $2.34 EPS and FY2021 earnings at $3.74 EPS.

Other equities analysts also recently issued reports about the company. TheStreet raised G-III Apparel Group from a “c+” rating to a “b-” rating in a research report on Thursday, March 21st. BidaskClub downgraded shares of G-III Apparel Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 5th. Bank of America began coverage on shares of G-III Apparel Group in a research report on Friday, March 1st. They set a “buy” rating and a $45.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $55.00 price target (up previously from $50.00) on shares of G-III Apparel Group in a research report on Friday, March 22nd. Finally, Barclays increased their price objective on shares of G-III Apparel Group from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $41.70.

Shares of NASDAQ:GIII traded up $0.32 during trading hours on Thursday, hitting $29.74. 936,200 shares of the company’s stock traded hands, compared to its average volume of 632,967. The firm has a fifty day simple moving average of $28.47. The company has a quick ratio of 1.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.59. G-III Apparel Group has a 1 year low of $23.34 and a 1 year high of $50.83. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 0.84 and a beta of 1.40.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Wednesday, June 5th. The textile maker reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. The company had revenue of $633.60 million during the quarter, compared to the consensus estimate of $650.03 million. G-III Apparel Group had a net margin of 4.53% and a return on equity of 12.59%. G-III Apparel Group’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. On average, analysts predict that G-III Apparel Group will post 3.27 EPS for the current year.

In other G-III Apparel Group news, CEO Morris Goldfarb acquired 37,106 shares of the stock in a transaction on Thursday, June 13th. The shares were bought at an average cost of $25.39 per share, with a total value of $942,121.34. Following the transaction, the chief executive officer now owns 3,210,483 shares of the company’s stock, valued at approximately $81,514,163.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laura H. Pomerantz sold 821 shares of G-III Apparel Group stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $40.43, for a total transaction of $33,193.03. Following the completion of the sale, the director now directly owns 39,682 shares in the company, valued at approximately $1,604,343.26. The disclosure for this sale can be found here. Insiders sold a total of 74,692 shares of company stock valued at $3,086,681 in the last three months. 8.60% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in G-III Apparel Group by 2.3% during the fourth quarter. BlackRock Inc. now owns 6,147,989 shares of the textile maker’s stock worth $171,469,000 after buying an additional 135,596 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in G-III Apparel Group by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,144,322 shares of the textile maker’s stock worth $115,585,000 after buying an additional 58,455 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in G-III Apparel Group by 72.0% during the first quarter. Victory Capital Management Inc. now owns 1,553,760 shares of the textile maker’s stock worth $62,088,000 after buying an additional 650,645 shares in the last quarter. Clark Capital Management Group Inc. boosted its holdings in G-III Apparel Group by 47.0% during the first quarter. Clark Capital Management Group Inc. now owns 990,614 shares of the textile maker’s stock worth $39,585,000 after buying an additional 316,781 shares in the last quarter. Finally, Jennison Associates LLC raised its position in G-III Apparel Group by 1.5% during the fourth quarter. Jennison Associates LLC now owns 802,858 shares of the textile maker’s stock worth $22,392,000 after acquiring an additional 11,661 shares during the last quarter.

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 in 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.

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Analyst Recommendations for G-III Apparel Group (NASDAQ:GIII)

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