KeyCorp Cuts G-III Apparel Group (NASDAQ:GIII) Price Target to $30.00

G-III Apparel Group (NASDAQ:GIII - Get Free Report) had its price target decreased by equities research analysts at KeyCorp from $40.00 to $30.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the textile maker's stock. KeyCorp's price target suggests a potential upside of 33.04% from the stock's current price.

A number of other brokerages also recently issued reports on GIII. UBS Group lowered their price target on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Wall Street Zen raised shares of G-III Apparel Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 31st. Barclays lowered their price objective 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. 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $29.60.

G-III Apparel Group Stock Up 0.2%

GIII stock traded up $0.04 during trading on Monday, reaching $22.55. 292,388 shares of the company traded hands, compared to its average volume of 557,665. The business has a 50 day simple moving average of $26.14 and a 200 day simple moving average of $28.76. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $36.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. The company has a market capitalization of $989.56 million, a price-to-earnings ratio of 5.91 and a beta of 1.48.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its quarterly earnings data on Friday, June 6th. The textile maker reported $0.19 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $579.48 million. During the same quarter last year, the company earned $0.12 EPS. The business's revenue was down 4.3% on a year-over-year basis. On average, equities research analysts anticipate that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Institutional Trading of G-III Apparel Group

Several institutional investors and hedge funds have recently made changes to their positions in GIII. Janney Montgomery Scott LLC acquired a new position in G-III Apparel Group in the 4th quarter valued at about $513,000. Principal Financial Group Inc. grew its holdings in shares of G-III Apparel Group by 1.7% in the 4th quarter. Principal Financial Group Inc. now owns 213,035 shares of the textile maker's stock worth $6,949,000 after acquiring an additional 3,484 shares during the period. Sanctuary Advisors LLC increased its position in shares of G-III Apparel Group by 4.3% in the fourth quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker's stock valued at $500,000 after buying an additional 631 shares in the last quarter. New York State Common Retirement Fund increased its holdings in G-III Apparel Group by 46.6% during the 4th quarter. New York State Common Retirement Fund now owns 44,071 shares of the textile maker's stock valued at $1,438,000 after acquiring an additional 14,016 shares in the last quarter. Finally, Ieq Capital LLC purchased a new position in shares of G-III Apparel Group during the 4th quarter worth approximately $331,000. 92.13% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.