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

G-III Apparel Group (NASDAQ:GIII) had its price objective upped by Barclays from $23.00 to $27.00 in a report issued on Friday morning, Benzinga reports. They currently have an underweight rating on the textile maker’s stock.

Several other analysts also recently commented on the stock. Telsey Advisory Group reiterated a market perform rating and issued a $29.00 price target on shares of G-III Apparel Group in a research report on Thursday, September 5th. StockNews.com cut shares of G-III Apparel Group from a buy rating to a hold rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $28.80.

G-III Apparel Group Price Performance

G-III Apparel Group stock opened at $30.85 on Friday. G-III Apparel Group has a 12-month low of $20.66 and a 12-month high of $35.68. The company has a current ratio of 3.79, a quick ratio of 2.62 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.39 billion, a P/E ratio of 8.08 and a beta of 2.19. The company has a fifty day simple moving average of $26.26 and a 200-day simple moving average of $27.69.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.79%. The business had revenue of $644.80 million during the quarter, compared to the consensus estimate of $649.54 million. During the same quarter in the previous year, the firm earned $0.40 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. Equities analysts expect that G-III Apparel Group will post 4.01 EPS for the current fiscal year.

Institutional Trading of G-III Apparel Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. purchased a new stake in G-III Apparel Group during the 1st quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of G-III Apparel Group during the 2nd quarter worth about $42,000. CWM LLC grew its holdings in shares of G-III Apparel Group by 115.0% during the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after buying an additional 1,012 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of G-III Apparel Group during the fourth quarter worth about $56,000. Finally, Point72 DIFC Ltd acquired a new position in shares of G-III Apparel Group in the second quarter valued at approximately $78,000. 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.