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

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

A number of other research analysts have also weighed in on the company. UBS Group decreased their target price 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. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Guggenheim boosted their target price on G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Telsey Advisory Group decreased their target price on G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating on the stock in a report on Friday. Finally, KeyCorp boosted their target price 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $33.00.

G-III Apparel Group Stock Up 1.5 %

NASDAQ:GIII opened at $27.06 on Tuesday. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 7.10 and a beta of 2.09. G-III Apparel Group has a twelve month low of $20.66 and a twelve month high of $36.18. The stock’s 50 day moving average price is $29.34 and its two-hundred day moving average price is $30.52. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results 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. The firm 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 business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 EPS. Equities research analysts expect that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GIII. Victory Capital Management Inc. grew its holdings 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 buying an additional 472,862 shares in the last quarter. Marshall Wace LLP grew its holdings in G-III Apparel Group by 80.6% in the 4th quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker’s stock valued at $24,989,000 after buying an additional 341,870 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in G-III Apparel Group in the 4th quarter valued at $7,628,000. Point72 Asset Management L.P. lifted its position in shares of G-III Apparel Group by 111.7% during the 4th quarter. Point72 Asset Management L.P. now owns 381,126 shares of the textile maker’s stock valued at $12,432,000 after acquiring an additional 201,126 shares during the period. Finally, Barclays PLC lifted its position in shares of G-III Apparel Group by 236.4% during the 3rd quarter. Barclays PLC now owns 282,661 shares of the textile maker’s stock valued at $8,627,000 after acquiring an additional 198,647 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

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.