G-III Apparel Group (NASDAQ:GIII – Get Rating) had its price objective lifted by investment analysts at Barclays from $13.00 to $15.00 in a research report issued on Friday, The Fly reports. The brokerage presently has an “equal weight” rating on the textile maker’s stock. Barclays‘s target price would suggest a potential downside of 0.20% from the stock’s current price.
A number of other analysts have also commented on GIII. StockNews.com began coverage on shares of G-III Apparel Group in a research note on Thursday. They set a “sell” rating for the company. UBS Group decreased their price target on shares of G-III Apparel Group from $22.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, December 8th. Wells Fargo & Company decreased their price target on shares of G-III Apparel Group from $20.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, December 1st. Telsey Advisory Group restated a “market perform” rating and set a $14.00 price target on shares of G-III Apparel Group in a research note on Monday, March 13th. Finally, Piper Sandler reduced their target price on shares of G-III Apparel Group from $22.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, December 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.38.
G-III Apparel Group Stock Down 1.6 %
G-III Apparel Group stock opened at $15.03 on Friday. The company has a quick ratio of 1.68, a current ratio of 3.09 and a debt-to-equity ratio of 0.49. G-III Apparel Group has a 12-month low of $11.60 and a 12-month high of $31.70. The firm’s fifty day moving average is $15.97 and its 200 day moving average is $16.55. The company has a market capitalization of $713.77 million, a PE ratio of 4.18, a PEG ratio of 0.31 and a beta of 2.65.
Hedge Funds Weigh In On G-III Apparel Group
A number of hedge funds and other institutional investors have recently made changes to their positions in GIII. Raymond James & Associates purchased a new position in shares of G-III Apparel Group in the 1st quarter worth about $2,199,000. HighTower Advisors LLC purchased a new stake in G-III Apparel Group during the first quarter valued at about $712,000. Citigroup Inc. lifted its holdings in G-III Apparel Group by 4.6% during the first quarter. Citigroup Inc. now owns 43,549 shares of the textile maker’s stock valued at $1,178,000 after purchasing an additional 1,930 shares during the last quarter. Natixis Advisors L.P. purchased a new stake in G-III Apparel Group during the first quarter valued at about $298,000. Finally, MetLife Investment Management LLC lifted its holdings in G-III Apparel Group by 55.1% during the first quarter. MetLife Investment Management LLC now owns 24,443 shares of the textile maker’s stock valued at $661,000 after purchasing an additional 8,687 shares during the last quarter. 88.79% of the stock is owned by hedge funds and other institutional investors.
About G-III Apparel Group
G-III Apparel Group Ltd. engages in the designing, sourcing, and marketing of women’s apparel. The firm’s product range includes outerwear, dresses, sportswear, swimwear, women’s suits and performance wear, as well as handbags, footwear, small leather goods, cold weather accessories, and luggage. It operates through the Wholesale and Retail segments.
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