G-III Apparel Group, Ltd. (NASDAQ:GIII - Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as $20.37 and last traded at $20.77, with a volume of 64721 shares trading hands. The stock had previously closed at $21.25.
Analysts Set New Price Targets
A number of research analysts recently commented on GIII shares. KeyCorp cut 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. Barclays dropped their price objective on G-III Apparel Group from $21.00 to $18.00 and set an "underweight" rating for the company in a research note on Monday. 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. Telsey Advisory Group dropped their price objective on G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating for the company in a research note on Monday. Finally, UBS Group dropped their price objective on G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $27.80.
Read Our Latest Research Report on GIII
G-III Apparel Group Stock Performance
The company has a market capitalization of $901.36 million, a price-to-earnings ratio of 5.39 and a beta of 1.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75. The stock has a 50 day moving average price of $25.78 and a two-hundred day moving average price of $28.47.
G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its earnings results on Friday, June 6th. The textile maker reported $0.19 earnings per share for the quarter, beating 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 analyst estimates of $579.48 million. During the same period last year, the company posted $0.12 earnings per share. The firm's quarterly revenue was down 4.3% compared to the same quarter last year. On average, analysts predict that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.
Institutional Trading of G-III Apparel Group
A number of hedge funds and other institutional investors have recently made changes to their positions in GIII. American Century Companies Inc. boosted its holdings in G-III Apparel Group by 11.1% in the first quarter. American Century Companies Inc. now owns 1,624,350 shares of the textile maker's stock valued at $44,426,000 after acquiring an additional 162,904 shares during the last quarter. Millennium Management LLC boosted its holdings in G-III Apparel Group by 139.3% in the first quarter. Millennium Management LLC now owns 953,185 shares of the textile maker's stock valued at $26,070,000 after acquiring an additional 554,933 shares during the last quarter. LSV Asset Management boosted its holdings in G-III Apparel Group by 13.2% in the first quarter. LSV Asset Management now owns 846,904 shares of the textile maker's stock valued at $23,163,000 after acquiring an additional 98,923 shares during the last quarter. Prudential Financial Inc. boosted its holdings in G-III Apparel Group by 2.6% in the fourth quarter. Prudential Financial Inc. now owns 772,447 shares of the textile maker's stock valued at $25,197,000 after acquiring an additional 19,723 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in G-III Apparel Group by 80.6% in the fourth quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker's stock valued at $24,989,000 after acquiring an additional 341,870 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.
About G-III Apparel Group
(
Get Free Report)
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.
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