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

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

GIII has been the topic of a number of other reports. StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Monday, December 2nd. Guggenheim raised their price objective on G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday. Telsey Advisory Group restated a “market perform” rating and set a $32.00 price objective on shares of G-III Apparel Group in a research note on Tuesday. Finally, KeyCorp increased their target price on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, G-III Apparel Group currently has an average rating of “Hold” and an average target price of $32.17.

G-III Apparel Group Trading Up 1.5 %

NASDAQ GIII traded up $0.51 during trading hours on Wednesday, hitting $35.38. 328,527 shares of the company’s stock were exchanged, compared to its average volume of 559,849. The business’s 50 day moving average is $30.73 and its 200-day moving average is $28.68. G-III Apparel Group has a 12-month low of $20.66 and a 12-month high of $35.68. The firm has a market capitalization of $1.55 billion, a P/E ratio of 9.27 and a beta of 2.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92.

G-III Apparel Group (NASDAQ:GIII) last released 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 prior year, the business posted $2.78 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts anticipate that G-III Apparel Group will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 100,000 shares of G-III Apparel Group stock in a transaction 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 directly owns 3,990,085 shares in the company, valued at approximately $126,046,785.15. This trade represents a 2.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On G-III Apparel Group

Hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of G-III Apparel Group in the second quarter worth about $42,000. CWM LLC grew its stake in shares of G-III Apparel Group by 115.0% in the 2nd 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 bought a new stake in shares of G-III Apparel Group in the 3rd quarter valued at approximately $63,000. Point72 DIFC Ltd bought a new stake in shares of G-III Apparel Group in the 2nd quarter valued at approximately $78,000. Finally, Innealta Capital LLC bought a new stake in shares of G-III Apparel Group in the 2nd quarter valued at approximately $124,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

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.