Barclays Cuts G-III Apparel Group (NASDAQ:GIII) Price Target to $21.00

G-III Apparel Group (NASDAQ:GIII - Get Free Report) had its target price cut by analysts at Barclays from $25.00 to $21.00 in a report issued on Monday,Benzinga reports. The firm presently has an "underweight" rating on the textile maker's stock. Barclays's target price indicates a potential downside of 18.82% from the stock's current price.

A number of other equities analysts have also recently issued reports on GIII. UBS Group dropped their target price on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. StockNews.com lowered G-III Apparel Group from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $30.00 target price on shares of G-III Apparel Group in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $32.20.

G-III Apparel Group Stock Performance

GIII opened at $25.87 on Monday. The stock has a market cap of $1.14 billion, a PE ratio of 6.79 and a beta of 1.63. G-III Apparel Group has a 1 year low of $20.66 and a 1 year high of $36.18. The stock's 50 day simple moving average is $25.99 and its 200-day simple moving average is $29.53. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.30. The firm had revenue of $839.50 million for the quarter, compared to analyst estimates of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. Sell-side analysts forecast that G-III Apparel Group will post 4.16 EPS for the current year.

Hedge Funds Weigh In On G-III Apparel Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. grew its holdings in G-III Apparel Group by 513.2% during the 4th quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker's stock worth $18,430,000 after acquiring an additional 472,862 shares during the last quarter. Marshall Wace LLP lifted its position in shares of G-III Apparel Group by 80.6% during the fourth quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker's stock worth $24,989,000 after purchasing an additional 341,870 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of G-III Apparel Group during the fourth quarter worth approximately $7,628,000. Point72 Asset Management L.P. grew its stake in shares of G-III Apparel Group by 111.7% during the fourth quarter. Point72 Asset Management L.P. now owns 381,126 shares of the textile maker's stock valued at $12,432,000 after purchasing an additional 201,126 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of G-III Apparel Group by 236.4% in the third quarter. Barclays PLC now owns 282,661 shares of the textile maker's stock valued at $8,627,000 after purchasing an additional 198,647 shares in the last quarter. Institutional investors and hedge funds 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.

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