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

G-III Apparel Group (NASDAQ:GIII - Get Free Report) had its price objective reduced by equities researchers at Barclays from $21.00 to $18.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "underweight" rating on the textile maker's stock. Barclays's price objective would suggest a potential downside of 18.82% from the stock's previous close.

Several other analysts also recently weighed in on GIII. 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 lowered their target price on G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating for the company in a report on Monday. KeyCorp reduced their price objective on G-III Apparel Group from $40.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday. Finally, UBS Group dropped their price target on shares of G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, G-III Apparel Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.00.

G-III Apparel Group Price Performance

NASDAQ GIII traded down $0.34 during trading hours on Monday, reaching $22.17. The company's stock had a trading volume of 828,361 shares, compared to its average volume of 559,628. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. The company's 50-day moving average is $26.14 and its two-hundred day moving average is $28.76. The stock has a market cap of $973.02 million, a PE ratio of 5.82 and a beta of 1.48. G-III Apparel Group has a fifty-two week low of $20.66 and a fifty-two week high of $36.18.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings data on Friday, June 6th. The textile maker reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.06. The business had revenue of $583.61 million for the quarter, compared to analyst estimates of $579.48 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The company's revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 EPS. Analysts forecast that G-III Apparel Group will post 4.16 EPS for the current year.

Hedge Funds Weigh In On G-III Apparel Group

Several institutional investors and hedge funds have recently modified their holdings of GIII. New York State Common Retirement Fund raised its holdings in shares of G-III Apparel Group by 46.6% during the 4th quarter. New York State Common Retirement Fund now owns 44,071 shares of the textile maker's stock valued at $1,438,000 after purchasing an additional 14,016 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of G-III Apparel Group by 513.2% during the 4th quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker's stock worth $18,430,000 after purchasing an additional 472,862 shares during the period. Phocas Financial Corp. raised its stake in shares of G-III Apparel Group by 84.4% in the fourth quarter. Phocas Financial Corp. now owns 234,020 shares of the textile maker's stock valued at $7,634,000 after purchasing an additional 107,082 shares in the last quarter. Proficio Capital Partners LLC bought a new position in G-III Apparel Group during the fourth quarter worth about $375,000. Finally, Squarepoint Ops LLC bought a new stake in shares of G-III Apparel Group in the 4th quarter worth about $2,308,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.