UBS Group Has Lowered Expectations for G-III Apparel Group (NASDAQ:GIII) Stock Price

G-III Apparel Group (NASDAQ:GIII) had its target price cut by investment analysts at UBS Group from $29.00 to $26.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the textile maker’s stock. UBS Group’s target price indicates a potential upside of 18.66% from the stock’s current price.

Other analysts have also recently issued reports about the company. Barclays cut their target price on G-III Apparel Group from $21.00 to $18.00 and set an “underweight” rating on the stock in a research note on Monday. Wall Street Zen upgraded shares of G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 31st. KeyCorp dropped their price target on shares of G-III Apparel Group from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Telsey Advisory Group lowered their price objective on shares of G-III Apparel Group from $30.00 to $27.00 and set a “market perform” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, G-III Apparel Group presently has an average rating of “Moderate Buy” and a consensus price target of $27.80.

G-III Apparel Group Stock Performance

Shares of NASDAQ:GIII traded down $0.60 during mid-day trading on Monday, reaching $21.91. The company had a trading volume of 1,526,466 shares, compared to its average volume of 562,637. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. The firm has a market cap of $961.56 million, a price-to-earnings ratio of 5.74 and a beta of 1.48. G-III Apparel Group has a one year low of $20.66 and a one year high of $36.18. The company’s 50-day moving average price is $26.14 and its 200-day moving average price is $28.76.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Friday, June 6th. The textile maker reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The company had revenue of $583.61 million during the quarter, compared to analyst estimates of $579.48 million. During the same period last year, the business earned $0.12 earnings per share. G-III Apparel Group’s revenue was down 4.3% compared to the same quarter last year. As a group, equities research 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 hedge funds have recently bought and sold shares of GIII. Caitong International Asset Management Co. Ltd raised its position in shares of 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 buying an additional 1,134 shares during the last quarter. AlphaQuest LLC purchased a new position in G-III Apparel Group in the fourth quarter valued at $49,000. Smartleaf Asset Management LLC increased its holdings 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 acquiring an additional 1,412 shares during the last quarter. 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 stake in G-III Apparel Group during the 1st quarter worth approximately $77,000. 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.