G-III Apparel Group (NASDAQ:GIII) Stock Price Expected to Rise, Guggenheim Analyst Says

G-III Apparel Group (NASDAQ:GIII) had its price target lifted by Guggenheim from $36.00 to $38.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Guggenheim’s price objective suggests a potential upside of 8.26% from the stock’s previous close.

A number of other brokerages have also recently weighed in on GIII. Barclays boosted their price target on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. KeyCorp boosted their price target on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Monday, December 2nd. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $32.00 price objective on shares of G-III Apparel Group in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.83.

G-III Apparel Group Price Performance

Shares of NASDAQ GIII traded up $0.23 during mid-day trading on Wednesday, reaching $35.10. The company had a trading volume of 228,277 shares, compared to its average volume of 559,401. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.54 billion, a PE ratio of 8.78 and a beta of 2.14. The company has a 50-day moving average price of $30.73 and a two-hundred day moving average price of $28.68. G-III Apparel Group has a 1-year low of $20.66 and a 1-year high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Tuesday, December 10th. The textile maker reported $2.59 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company posted $2.78 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts anticipate that G-III Apparel Group will post 4.01 earnings per share for the current year.

Insider Activity at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $31.59, for a total transaction of $3,159,000.00. Following the completion of the sale, the chief executive officer now owns 3,990,085 shares of the company’s stock, valued at approximately $126,046,785.15. This represents a 2.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 12.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On G-III Apparel Group

Several institutional investors and hedge funds have recently made changes to their positions in GIII. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of G-III Apparel Group during the 2nd quarter valued at $42,000. CWM LLC raised its holdings in shares of 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 purchasing an additional 1,012 shares during the period. Quarry LP acquired a new stake in shares of G-III Apparel Group in the 3rd quarter valued at about $63,000. Point72 DIFC Ltd bought a new stake in G-III Apparel Group in the 2nd quarter valued at about $78,000. Finally, Innealta Capital LLC acquired a new position in G-III Apparel Group during the 2nd quarter worth 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.