G-III Apparel Group (NASDAQ:GIII) Price Target Cut to $21.00 by Analysts at Barclays

G-III Apparel Group (NASDAQ:GIII) had its price target cut by equities researchers at Barclays from $25.00 to $21.00 in a report issued on Monday,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 18.82% from the company’s current price.

GIII has been the subject of a number of other reports. UBS Group decreased their price objective on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. StockNews.com downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 9th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $30.00 price objective on shares of G-III Apparel Group in a report on Friday, April 4th. One research analyst has 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 MarketBeat.com, G-III Apparel Group currently has an average rating of “Hold” and an average price target of $32.20.

G-III Apparel Group Stock Performance

G-III Apparel Group stock opened at $25.87 on Monday. The company has a market cap of $1.14 billion, a PE ratio of 6.79 and a beta of 1.63. 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 has a 1 year low of $20.66 and a 1 year high of $36.18. The company’s 50-day moving average is $25.99 and its two-hundred day moving average is $29.53.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.30. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business had revenue of $839.50 million for the quarter, compared to analyst estimates of $808.59 million. During the same period in the prior year, the business posted $0.76 earnings per share. G-III Apparel Group’s revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that G-III Apparel Group will post 4.16 earnings per share for the current year.

Hedge Funds Weigh In On G-III Apparel Group

Institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. lifted its stake in G-III Apparel Group by 513.2% in the fourth 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 increased its position 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 acquiring an additional 341,870 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in G-III Apparel Group in the 4th quarter valued at $7,628,000. Point72 Asset Management L.P. boosted its stake in G-III Apparel Group by 111.7% in the 4th quarter. Point72 Asset Management L.P. now owns 381,126 shares of the textile maker’s stock worth $12,432,000 after purchasing an additional 201,126 shares during the period. Finally, Barclays PLC boosted its stake in G-III Apparel Group by 236.4% in the 3rd quarter. Barclays PLC now owns 282,661 shares of the textile maker’s stock worth $8,627,000 after purchasing an additional 198,647 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

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.