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

G-III Apparel Group (NASDAQ:GIII) had its target price reduced by equities researchers at Barclays from $29.00 to $25.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the textile maker’s stock. Barclays‘s price objective would indicate a potential downside of 7.61% from the stock’s previous close.

Several other brokerages also recently weighed in on GIII. KeyCorp upped their price objective 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. Guggenheim upped their price objective on G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. 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 research report on Tuesday, March 4th. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Finally, Telsey Advisory Group lowered their target price 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. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $33.00.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $27.06 on Tuesday. The stock has a fifty day moving average price of $29.34 and a 200-day moving average price of $30.52. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 7.10 and a beta of 2.09. 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 fifty-two week low of $20.66 and a fifty-two week high of $36.18.

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, 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 during the quarter, compared to the consensus estimate of $808.59 million. During the same period in the prior year, the company earned $0.76 EPS. G-III Apparel Group’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts anticipate that G-III Apparel Group will post 4.16 EPS for the current fiscal year.

Hedge Funds Weigh In On G-III Apparel Group

A number of institutional investors and hedge funds have recently bought and sold shares of GIII. AlphaQuest LLC acquired a new stake in shares of G-III Apparel Group in the fourth quarter valued at about $49,000. Quarry LP acquired a new stake in shares of G-III Apparel Group in the third quarter valued at about $63,000. Smartleaf Asset Management LLC increased its stake in shares of G-III Apparel Group by 249.9% in 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 period. Public Employees Retirement System of Ohio acquired a new stake in shares of G-III Apparel Group in the fourth quarter valued at about $68,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in shares of 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 valued at $92,000 after buying an additional 1,460 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

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.