G-III Apparel Group (NASDAQ:GIII) Price Target Cut to $32.00 by Analysts at UBS Group

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

Several other research firms also recently commented 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. KeyCorp lifted 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. Telsey Advisory Group restated a “market perform” rating and set a $38.00 price target on shares of G-III Apparel Group in a report on Wednesday, December 18th. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Barclays boosted their price objective 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. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, G-III Apparel Group has an average rating of “Hold” and a consensus target price of $33.33.

G-III Apparel Group Trading Down 3.0 %

GIII traded down $0.79 during mid-day trading on Tuesday, hitting $25.86. 40,966 shares of the stock were exchanged, compared to its average volume of 426,146. The firm’s fifty day moving average is $30.66 and its two-hundred day moving average is $30.51. G-III Apparel Group has a 1-year low of $20.66 and a 1-year high of $36.18. The company has a market cap of $1.13 billion, a PE ratio of 6.79 and a beta of 2.07. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.33. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the firm earned $2.78 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts forecast that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On G-III Apparel Group

Several institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its holdings in G-III Apparel Group by 11.8% during the fourth quarter. American Century Companies Inc. now owns 1,461,446 shares of the textile maker’s stock worth $47,672,000 after purchasing an additional 153,913 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in G-III Apparel Group by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,036,158 shares of the textile maker’s stock worth $31,624,000 after acquiring an additional 6,598 shares in the last quarter. Geode Capital Management LLC lifted its position in G-III Apparel Group by 1.2% in the third quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock valued at $29,833,000 after acquiring an additional 11,196 shares during the last quarter. Prudential Financial Inc. boosted its stake in G-III Apparel Group by 2.6% in the fourth quarter. Prudential Financial Inc. now owns 772,447 shares of the textile maker’s stock valued at $25,197,000 after acquiring an additional 19,723 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of G-III Apparel Group by 80.6% during 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 during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

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.