Barclays Lowers G-III Apparel Group (NASDAQ:GIII) Price Target to $25.00

G-III Apparel Group (NASDAQ:GIII - Get Free Report) had its price objective cut by analysts at Barclays from $29.00 to $25.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "underweight" rating on the textile maker's stock. Barclays's price objective would suggest a potential downside of 4.58% from the stock's current price.

Several other research firms have also recently weighed in on GIII. StockNews.com cut G-III Apparel Group from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Guggenheim upped their price objective on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. UBS Group cut their target price on shares of G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Telsey Advisory Group cut their price objective on G-III Apparel Group from $38.00 to $30.00 and set a "market perform" rating on the stock in a research report on Friday, March 14th. 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 research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $33.00.

Remove Ads

G-III Apparel Group Trading Down 1.7 %

GIII stock traded down $0.45 during trading on Tuesday, hitting $26.20. 2,813,359 shares of the company traded hands, compared to its average volume of 524,235. The company has a 50-day moving average of $28.89 and a 200-day moving average of $30.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. G-III Apparel Group has a 1 year low of $20.66 and a 1 year high of $36.18. The firm has a market capitalization of $1.15 billion, a PE ratio of 6.88 and a beta of 2.09.

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

Hedge Funds Weigh In On G-III Apparel Group

Several institutional investors and hedge funds have recently modified their holdings of GIII. AlphaQuest LLC bought a new stake in shares of G-III Apparel Group in the 4th quarter worth $49,000. Quarry LP bought a new stake in shares of G-III Apparel Group in the third quarter worth approximately $63,000. Smartleaf Asset Management LLC raised its holdings in shares of G-III Apparel Group by 249.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker's stock valued at $64,000 after purchasing an additional 1,412 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in G-III Apparel Group during the fourth quarter valued at approximately $68,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in G-III Apparel Group by 93.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker's stock worth $92,000 after purchasing an additional 1,460 shares during the last quarter. 92.13% of the stock is currently owned by 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.