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

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

Several other equities research analysts have also recently weighed in on the company. 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 report on Monday. Telsey Advisory Group cut their target price 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 report on Monday. Wall Street Zen raised shares of G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 31st. Finally, UBS Group cut their price objective on shares of 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.80.

G-III Apparel Group Stock Down 1.6%

GIII opened at $22.16 on Monday. 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. The firm has a 50-day simple moving average of $26.03 and a two-hundred day simple moving average of $28.70. The company has a market capitalization of $972.45 million, a PE ratio of 5.82 and a beta of 1.48.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Friday, June 6th. The textile maker reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $583.61 million during the quarter, compared to the consensus estimate of $579.48 million. During the same period last year, the company earned $0.12 earnings per share. G-III Apparel Group’s revenue was down 4.3% on a year-over-year basis. Analysts forecast that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On G-III Apparel Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted 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 buying an additional 1,134 shares during the last quarter. AlphaQuest LLC acquired a new position in G-III Apparel Group during the fourth quarter valued at $49,000. Smartleaf Asset Management LLC raised its stake in shares of G-III Apparel Group by 249.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after buying an additional 1,412 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of G-III Apparel Group in the 4th quarter valued at about $68,000. Finally, Strs Ohio acquired a new position in G-III Apparel Group in the first quarter valued at approximately $77,000. 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.