G-III Apparel Group (NASDAQ:GIII) Price Target Increased to $27.00 by Analysts at Barclays

G-III Apparel Group (NASDAQ:GIII) had its target price increased by Barclays from $23.00 to $27.00 in a report published on Friday, Benzinga reports. Barclays currently has an underweight rating on the textile maker’s stock.

GIII has been the topic of several other reports. StockNews.com downgraded shares of G-III Apparel Group from a buy rating to a hold rating in a research note on Wednesday, July 24th. Telsey Advisory Group reissued a market perform rating and issued a $29.00 target price on shares of G-III Apparel Group in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $28.80.

G-III Apparel Group Price Performance

NASDAQ:GIII opened at $32.18 on Friday. The stock has a 50 day moving average of $26.18 and a two-hundred day moving average of $27.77. 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 cap of $1.45 billion, a P/E ratio of 8.42 and a beta of 2.24. The company has a current ratio of 3.79, a quick ratio of 2.62 and a debt-to-equity ratio of 0.26.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping the consensus estimate of $0.27 by $0.25. The firm had revenue of $644.80 million during the quarter, compared to analysts’ expectations of $649.54 million. G-III Apparel Group had a return on equity of 12.75% and a net margin of 5.76%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share. On average, analysts expect that G-III Apparel Group will post 3.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On G-III Apparel Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of G-III Apparel Group by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 5,046,803 shares of the textile maker’s stock valued at $146,408,000 after purchasing an additional 292,668 shares during the last quarter. Norges Bank purchased a new stake in G-III Apparel Group in the 4th quarter valued at about $9,440,000. F M Investments LLC acquired a new position in G-III Apparel Group in the second quarter valued at about $6,796,000. Marshall Wace LLP boosted its stake in G-III Apparel Group by 142.8% during the second quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock worth $9,526,000 after buying an additional 206,993 shares during the period. Finally, American Century Companies Inc. increased its position in shares of G-III Apparel Group by 15.6% during the second quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock valued at $31,054,000 after acquiring an additional 155,079 shares during the last quarter. 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.