G-III Apparel Group (NASDAQ:GIII) Trading Down 2.5% - What's Next?

G-III Apparel Group, Ltd. (NASDAQ:GIII - Get Free Report)'s stock price dropped 2.5% on Tuesday . The company traded as low as $23.94 and last traded at $23.99. Approximately 81,275 shares traded hands during trading, a decline of 85% from the average daily volume of 552,394 shares. The stock had previously closed at $24.60.

Analysts Set New Price Targets

Several brokerages recently commented on GIII. Telsey Advisory Group reissued a "market perform" rating and issued a $30.00 price objective on shares of G-III Apparel Group in a research note on Friday, April 4th. Barclays dropped their price objective on shares of G-III Apparel Group from $29.00 to $25.00 and set an "underweight" rating for the company in a report on Tuesday, March 18th. UBS Group reduced their target price 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. Finally, StockNews.com downgraded shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $33.00.

G-III Apparel Group Stock Performance

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 stock's 50 day moving average price is $25.99 and its 200 day moving average price is $29.54. The company has a market capitalization of $1.14 billion, a P/E ratio of 6.79 and a beta of 1.63.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.30. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm had revenue of $839.50 million during the quarter, compared to analyst estimates of $808.59 million. During the same period last year, the company posted $0.76 EPS. The business's quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts expect that G-III Apparel Group, Ltd. will post 4.16 EPS for the current year.

Hedge Funds Weigh In On G-III Apparel Group

Several institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in 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 buying an additional 472,862 shares during the period. Marshall Wace LLP increased its holdings in shares of G-III Apparel Group by 80.6% during 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 in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of G-III Apparel Group during the fourth quarter worth approximately $7,628,000. Point72 Asset Management L.P. lifted its holdings in shares of G-III Apparel Group by 111.7% in the 4th quarter. Point72 Asset Management L.P. now owns 381,126 shares of the textile maker's stock worth $12,432,000 after purchasing an additional 201,126 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of G-III Apparel Group by 236.4% in the 3rd quarter. Barclays PLC now owns 282,661 shares of the textile maker's stock worth $8,627,000 after purchasing an additional 198,647 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

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.