Barclays Increases G-III Apparel Group (NASDAQ:GIII) Price Target to $27.00

G-III Apparel Group (NASDAQ:GIII) had its price objective lifted by Barclays from $23.00 to $27.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the textile maker’s stock. Barclays‘s price target would suggest a potential downside of 16.10% from the stock’s previous close.

Several other equities analysts have also commented on GIII. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Telsey Advisory Group reiterated a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $28.80.

G-III Apparel Group Price Performance

Shares of NASDAQ GIII opened at $32.18 on Friday. The firm has a market capitalization of $1.45 billion, a P/E ratio of 8.42 and a beta of 2.19. The company has a quick ratio of 2.62, a current ratio of 3.79 and a debt-to-equity ratio of 0.26. The stock’s 50-day simple moving average is $26.18 and its two-hundred day simple moving average is $27.74. G-III Apparel Group has a twelve month low of $20.66 and a twelve month high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.25. The business had revenue of $644.80 million for the quarter, compared to analyst estimates of $649.54 million. G-III Apparel Group had a return on equity of 12.75% and a net margin of 5.76%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 EPS. As a group, equities analysts anticipate that G-III Apparel Group will post 3.63 EPS for the current fiscal year.

Hedge Funds Weigh In On G-III Apparel Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantedge Capital Pte Ltd lifted its position in G-III Apparel Group by 63.7% in the fourth quarter. Quantedge Capital Pte Ltd now owns 162,900 shares of the textile maker’s stock valued at $5,535,000 after purchasing an additional 63,400 shares during the last quarter. CastleKnight Management LP bought a new stake in G-III Apparel Group in the 4th quarter worth $2,015,000. SG Americas Securities LLC increased its position in shares of G-III Apparel Group by 114.0% in the first quarter. SG Americas Securities LLC now owns 36,349 shares of the textile maker’s stock valued at $1,054,000 after acquiring an additional 19,362 shares during the period. Hillsdale Investment Management Inc. bought a new position in shares of G-III Apparel Group during the first quarter valued at about $913,000. Finally, Caxton Associates LP raised its stake in shares of G-III Apparel Group by 283.2% during the first quarter. Caxton Associates LP now owns 34,551 shares of the textile maker’s stock valued at $1,002,000 after acquiring an additional 25,535 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

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.