G-III Apparel Group (NASDAQ:GIII) Price Target Cut to $25.00 by Analysts at Barclays

G-III Apparel Group (NASDAQ:GIII) had its price target reduced by research analysts at Barclays from $29.00 to $25.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the textile maker’s stock. Barclays‘s price target would indicate a potential downside of 6.47% from the stock’s current price.

Several other equities research analysts have also recently weighed in on GIII. UBS Group dropped their price objective 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. Telsey Advisory Group dropped their price objective on G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, March 14th. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. KeyCorp increased their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Guggenheim increased their price objective on G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $33.00.

G-III Apparel Group Price Performance

GIII opened at $26.73 on Tuesday. The stock’s 50 day simple moving average is $29.11 and its 200 day simple moving average is $30.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75. 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 cap of $1.17 billion, a price-to-earnings ratio of 7.02 and a beta of 2.09.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.30. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business had revenue of $839.50 million for the quarter, compared to analyst estimates of $808.59 million. During the same period last year, the company earned $0.76 EPS. G-III Apparel Group’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts predict that G-III Apparel Group will post 4.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GIII. AlphaQuest LLC purchased a new position in shares of G-III Apparel Group in the 4th quarter valued at approximately $49,000. Quarry LP purchased a new position in G-III Apparel Group during the third quarter valued at $63,000. Smartleaf Asset Management LLC raised its stake in 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 buying an additional 1,412 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in G-III Apparel Group during the fourth quarter valued at $68,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in G-III Apparel Group by 93.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock valued at $92,000 after buying an additional 1,460 shares during the last quarter. Hedge funds and other 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.