Barclays Boosts G-III Apparel Group (NASDAQ:GIII) Price Target to $29.00

G-III Apparel Group (NASDAQ:GIII) had its target price upped by stock analysts at Barclays from $27.00 to $29.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the textile maker’s stock. Barclays‘s target price would suggest a potential downside of 18.03% from the stock’s current price.

Several other analysts also recently commented on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $32.00 price objective on shares of G-III Apparel Group in a report on Tuesday. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Monday, December 2nd. KeyCorp lifted their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Guggenheim upped their target price on G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $32.17.

G-III Apparel Group Stock Up 1.5 %

G-III Apparel Group stock traded up $0.51 during trading hours on Wednesday, reaching $35.38. The stock had a trading volume of 328,527 shares, compared to its average volume of 559,849. G-III Apparel Group has a 52 week low of $20.66 and a 52 week high of $35.68. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 9.27 and a beta of 2.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. The business’s 50 day moving average price is $30.73 and its 200-day moving average price is $28.68.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.33. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the business earned $2.78 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Sell-side analysts anticipate that G-III Apparel Group will post 4.01 EPS for the current year.

Insider Transactions at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 100,000 shares of G-III Apparel Group stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $31.59, for a total transaction of $3,159,000.00. Following the transaction, the chief executive officer now owns 3,990,085 shares of the company’s stock, valued at $126,046,785.15. The trade was a 2.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Foundry Partners LLC purchased a new stake in shares of G-III Apparel Group in the second quarter valued at approximately $518,000. Victory Capital Management Inc. boosted its position in G-III Apparel Group by 4.9% during the third quarter. Victory Capital Management Inc. now owns 92,136 shares of the textile maker’s stock worth $2,812,000 after purchasing an additional 4,294 shares in the last quarter. Point72 DIFC Ltd grew its holdings in G-III Apparel Group by 103.2% in the third quarter. Point72 DIFC Ltd now owns 5,821 shares of the textile maker’s stock valued at $178,000 after purchasing an additional 2,957 shares during the last quarter. F M Investments LLC acquired a new stake in G-III Apparel Group in the second quarter valued at $6,796,000. Finally, Dimensional Fund Advisors LP grew its holdings in G-III Apparel Group by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock valued at $91,396,000 after purchasing an additional 151,425 shares during the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

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.