G-III Apparel Group (NASDAQ:GIII) Price Target Cut to $30.00 by Analysts at KeyCorp

G-III Apparel Group (NASDAQ:GIII) had its price objective decreased by KeyCorp from $40.00 to $30.00 in a research report sent to investors on Monday morning,Benzinga reports. KeyCorp currently has an overweight rating on the textile maker’s stock.

GIII has been the topic of several other research reports. Barclays cut their price target on G-III Apparel Group from $25.00 to $21.00 and set an “underweight” rating on the stock in a research note on Monday, April 28th. Wall Street Zen upgraded G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 31st. UBS Group reduced their target price on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, Telsey Advisory Group dropped their price target on shares of G-III Apparel Group from $30.00 to $27.00 and set a “market perform” rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.80.

G-III Apparel Group Stock Down 1.6%

Shares of NASDAQ:GIII opened at $22.16 on Monday. The company has a market capitalization of $972.45 million, a price-to-earnings ratio of 5.82 and a beta of 1.48. The company has a 50 day moving average of $26.03 and a two-hundred day moving average of $28.70. G-III Apparel Group has a 52-week low of $20.66 and a 52-week high of $36.18. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Friday, June 6th. The textile maker reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.06. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business had revenue of $583.61 million during the quarter, compared to the consensus estimate of $579.48 million. During the same period in the prior year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, analysts forecast that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Institutional Trading of G-III Apparel Group

A number of hedge funds have recently modified their holdings of GIII. Caitong International Asset Management Co. Ltd raised its holdings in shares of G-III Apparel Group by 5,154.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,156 shares of the textile maker’s stock worth $32,000 after acquiring an additional 1,134 shares in the last quarter. AlphaQuest LLC acquired a new position in G-III Apparel Group in the 4th quarter worth about $49,000. Smartleaf Asset Management LLC grew its stake in shares of G-III Apparel Group by 249.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after buying an additional 1,412 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in G-III Apparel Group in the fourth quarter worth approximately $68,000. Finally, Strs Ohio bought a new position in G-III Apparel Group during the first quarter valued at approximately $77,000. 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.