G-III Apparel Group (NASDAQ:GIII) Price Target Lowered to $18.00 at Barclays

G-III Apparel Group (NASDAQ:GIII) had its target price cut by Barclays from $21.00 to $18.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an underweight rating on the textile maker’s stock.

Other equities analysts have also recently issued research reports about the stock. Telsey Advisory Group decreased their price target on shares of G-III Apparel Group from $30.00 to $27.00 and set a “market perform” rating for the company in a research report on Monday. KeyCorp lowered their target price on G-III Apparel Group from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday. UBS Group cut their price target 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. Finally, Wall Street Zen upgraded G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.80.

G-III Apparel Group Trading Down 1.3%

Shares of GIII opened at $21.77 on Monday. The stock has a market cap of $955.33 million, a PE ratio of 5.71 and a beta of 1.48. The firm’s fifty day moving average is $25.88 and its two-hundred day moving average is $28.61. G-III Apparel Group has a 52-week low of $20.66 and a 52-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.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Friday, June 6th. The textile maker reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business had revenue of $583.61 million for the quarter, compared to analyst estimates of $579.48 million. During the same quarter in the prior year, the company posted $0.12 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Research analysts forecast that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its position in G-III Apparel Group by 5,154.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,156 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 1,134 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of G-III Apparel Group in the 4th quarter valued at about $49,000. Smartleaf Asset Management LLC boosted its position in shares of G-III Apparel Group by 249.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 1,412 shares during the period. Public Employees Retirement System of Ohio purchased a new position in G-III Apparel Group during the 4th quarter worth approximately $68,000. Finally, Strs Ohio acquired a new position in G-III Apparel Group during the first quarter worth approximately $77,000. 92.13% of the stock is 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.