G-III Apparel Group (NASDAQ:GIII) Price Target Cut to $26.00 by Analysts at UBS Group

G-III Apparel Group (NASDAQ:GIII - Get Free Report) had its price target cut by stock analysts at UBS Group from $29.00 to $26.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the textile maker's stock. UBS Group's target price indicates a potential upside of 18.66% from the company's previous close.

Several other equities analysts have also recently commented on the stock. KeyCorp lowered 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. Wall Street Zen upgraded shares of G-III Apparel Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 31st. Barclays dropped their target price on shares of G-III Apparel Group from $21.00 to $18.00 and set an "underweight" rating on the stock in a research report on Monday. Finally, Telsey Advisory Group lowered their price objective on 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $27.80.

G-III Apparel Group Stock Down 2.7%

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

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last posted its earnings results on Friday, June 6th. The textile maker reported $0.19 EPS for the quarter, beating the consensus estimate 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 in the prior year, the company earned $0.12 earnings per share. The business's revenue was down 4.3% compared to the same quarter last year. As a group, analysts forecast that G-III Apparel Group will post 4.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GIII. American Century Companies Inc. grew its stake in G-III Apparel Group by 11.1% during the first quarter. American Century Companies Inc. now owns 1,624,350 shares of the textile maker's stock worth $44,426,000 after buying an additional 162,904 shares in the last quarter. Millennium Management LLC boosted its stake in shares of G-III Apparel Group by 139.3% during the first quarter. Millennium Management LLC now owns 953,185 shares of the textile maker's stock valued at $26,070,000 after purchasing an additional 554,933 shares in the last quarter. LSV Asset Management grew its holdings in G-III Apparel Group by 13.2% during the 1st quarter. LSV Asset Management now owns 846,904 shares of the textile maker's stock worth $23,163,000 after acquiring an additional 98,923 shares during the last quarter. Prudential Financial Inc. increased 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 purchasing an additional 19,723 shares during the period. Finally, Marshall Wace LLP increased its position in G-III Apparel Group by 80.6% during the 4th quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker's stock valued at $24,989,000 after purchasing an additional 341,870 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

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.

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