UBS Group Issues Pessimistic Forecast for G-III Apparel Group (NASDAQ:GIII) Stock Price

G-III Apparel Group (NASDAQ:GIII) had its price target dropped by UBS Group from $37.00 to $32.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the textile maker’s stock. UBS Group’s price target would suggest a potential upside of 23.75% from the stock’s previous close.

A number of other brokerages have also issued reports on GIII. Guggenheim boosted their price target on shares of 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. Barclays boosted their target price on G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 11th. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Monday. Telsey Advisory Group reaffirmed a “market perform” rating and set a $38.00 price objective on shares of G-III Apparel Group in a report on Wednesday, December 18th. Finally, KeyCorp raised their target price on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, G-III Apparel Group has a consensus rating of “Hold” and an average target price of $33.33.

G-III Apparel Group Stock Performance

G-III Apparel Group stock traded down $0.79 during mid-day trading on Tuesday, reaching $25.86. 40,966 shares of the company were exchanged, compared to its average volume of 426,146. The firm’s 50-day simple moving average is $30.66 and its two-hundred day simple moving average is $30.51. G-III Apparel Group has a twelve month low of $20.66 and a twelve month high of $36.18. The firm has a market cap of $1.13 billion, a PE ratio of 6.79 and a beta of 2.07. 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 (NASDAQ:GIII) last issued its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.33. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the company earned $2.78 earnings per share. Equities analysts predict that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Institutional Trading of G-III Apparel Group

Institutional investors have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. acquired a new position in shares of G-III Apparel Group during the 3rd quarter worth $3,671,000. Victory Capital Management Inc. raised its position in G-III Apparel Group by 4.9% during the third quarter. Victory Capital Management Inc. now owns 92,136 shares of the textile maker’s stock worth $2,812,000 after acquiring an additional 4,294 shares during the last quarter. Zions Bancorporation N.A. lifted its holdings in shares of G-III Apparel Group by 18.4% in the third quarter. Zions Bancorporation N.A. now owns 47,248 shares of the textile maker’s stock valued at $1,442,000 after purchasing an additional 7,345 shares in the last quarter. Royce & Associates LP grew its position in shares of G-III Apparel Group by 10.2% in the third quarter. Royce & Associates LP now owns 38,064 shares of the textile maker’s stock valued at $1,162,000 after purchasing an additional 3,537 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of G-III Apparel Group by 54.3% during the 3rd quarter. Empowered Funds LLC now owns 328,123 shares of the textile maker’s stock worth $10,014,000 after purchasing an additional 115,491 shares in the last quarter. 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.