Barclays Has Lowered Expectations for G-III Apparel Group (NASDAQ:GIII) Stock Price

G-III Apparel Group (NASDAQ:GIII) had its price target cut by Barclays from $25.00 to $21.00 in a report released on Monday,Benzinga reports. They currently have an underweight rating on the textile maker’s stock.

Several other research firms have also recently issued reports on GIII. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 9th. Telsey Advisory Group reiterated a “market perform” rating and issued a $30.00 price target on shares of G-III Apparel Group in a report on Friday, April 4th. Finally, UBS Group decreased their price objective on shares of 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. 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $32.20.

G-III Apparel Group Stock Up 1.1 %

Shares of NASDAQ:GIII opened at $25.22 on Monday. G-III Apparel Group has a fifty-two week low of $20.66 and a fifty-two week high of $36.18. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $25.78 and its 200-day simple moving average is $29.43. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 6.62 and a beta of 1.63.

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

Institutional Investors Weigh In On G-III Apparel Group

Institutional investors and hedge funds have recently made changes to their positions in the business. AlphaQuest LLC acquired a new position in G-III Apparel Group during the fourth quarter worth about $49,000. Smartleaf Asset Management LLC increased its stake in shares of G-III Apparel Group by 249.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock worth $64,000 after purchasing an additional 1,412 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of G-III Apparel Group during the 4th quarter worth approximately $68,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in G-III Apparel Group by 18.6% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,590 shares of the textile maker’s stock valued at $117,000 after buying an additional 564 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in G-III Apparel Group during the 1st quarter valued at $106,000. 92.13% of the stock is currently owned by hedge funds and other 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.