G-III Apparel Group (NASDAQ:GIII) Price Target Lowered to $32.00 at UBS Group

G-III Apparel Group (NASDAQ:GIII) had its price target trimmed by UBS Group from $37.00 to $32.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the textile maker’s stock.

A number of other brokerages have also weighed in on GIII. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $38.00 target price on shares of G-III Apparel Group in a research note on Wednesday, December 18th. StockNews.com downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Monday. Guggenheim increased their price objective on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Barclays increased their price objective on shares of G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 11th. Finally, KeyCorp upped their target price on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, G-III Apparel Group currently has a consensus rating of “Hold” and a consensus target price of $33.33.

G-III Apparel Group Price Performance

GIII opened at $25.44 on Tuesday. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $36.18. The company has a fifty day simple moving average of $30.50 and a 200 day simple moving average of $30.51. The stock has a market cap of $1.12 billion, a P/E ratio of 6.68 and a beta of 2.07.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.33. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the company earned $2.78 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. On average, research analysts expect that G-III Apparel Group will post 4.16 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. AlphaQuest LLC bought a new position in G-III Apparel Group in the 4th quarter valued at about $49,000. Quarry LP bought a new position in G-III Apparel Group in the 3rd quarter valued at about $63,000. Smartleaf Asset Management LLC raised its holdings in G-III Apparel Group by 249.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after acquiring an additional 1,412 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of G-III Apparel Group during the fourth quarter worth approximately $68,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of G-III Apparel Group by 93.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock worth $92,000 after purchasing an additional 1,460 shares during the period. 92.13% of the stock is owned by 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.