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

G-III Apparel Group (NASDAQ:GIII) had its price target lowered by Barclays from $29.00 to $25.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the textile maker’s stock.

Other analysts have also recently issued research reports about the stock. Telsey Advisory Group lowered their price objective on shares of G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating for the company in a research report on Friday, March 14th. KeyCorp increased their price target 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. UBS Group cut their price objective on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Guggenheim increased their target price on G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, StockNews.com lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. One equities 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 data from MarketBeat.com, G-III Apparel Group has an average rating of “Hold” and an average target price of $33.00.

G-III Apparel Group Trading Down 0.3 %

NASDAQ GIII opened at $26.65 on Tuesday. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $36.18. The stock has a 50-day simple moving average of $29.00 and a 200 day simple moving average of $30.46. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.17 billion, a PE ratio of 6.99 and a beta of 2.09.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $839.50 million during the quarter, compared to analysts’ expectations of $808.59 million. During the same period in the prior year, the business posted $0.76 EPS. G-III Apparel Group’s revenue was up 9.8% on a year-over-year basis. Research analysts forecast that G-III Apparel Group will post 4.16 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GIII. Victory Capital Management Inc. lifted its stake in G-III Apparel Group by 513.2% in the 4th quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker’s stock valued at $18,430,000 after acquiring an additional 472,862 shares in the last quarter. Marshall Wace LLP lifted its position in shares of G-III Apparel Group by 80.6% in 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. bought a new stake in shares of G-III Apparel Group in the fourth quarter worth $7,628,000. Point72 Asset Management L.P. boosted its holdings in 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 worth $12,432,000 after purchasing an additional 201,126 shares during the last quarter. Finally, Barclays PLC grew its position in 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. 92.13% of the stock is currently owned by institutional investors.

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.