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

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

Several other equities research analysts have also recently weighed in on the stock. KeyCorp upped their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Barclays boosted their target price on 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. StockNews.com downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Monday. Telsey Advisory Group reissued a “market perform” rating and set a $38.00 target price on shares of G-III Apparel Group in a research note on Wednesday, December 18th. Finally, Guggenheim boosted their target price on 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $33.33.

G-III Apparel Group Trading Up 3.5 %

Shares of G-III Apparel Group stock opened at $26.57 on Tuesday. G-III Apparel Group has a 52-week low of $20.66 and a 52-week high of $36.18. The firm has a 50-day moving average of $30.35 and a 200-day moving average of $30.48. 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 has a market cap of $1.17 billion, a PE ratio of 6.97 and a beta of 2.07.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share for the quarter, topping the consensus estimate 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 business posted $2.78 earnings per share. G-III Apparel Group’s revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts forecast that G-III Apparel Group will post 4.16 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GIII. Robeco Institutional Asset Management B.V. acquired a new position in shares of G-III Apparel Group in the third quarter valued at approximately $3,671,000. Victory Capital Management Inc. increased its stake in shares of G-III Apparel Group by 4.9% in the third quarter. Victory Capital Management Inc. now owns 92,136 shares of the textile maker’s stock valued at $2,812,000 after buying an additional 4,294 shares during the period. Zions Bancorporation N.A. increased its stake in shares of G-III Apparel Group by 18.4% in the third quarter. Zions Bancorporation N.A. now owns 47,248 shares of the textile maker’s stock valued at $1,442,000 after buying an additional 7,345 shares during the period. Royce & Associates LP increased its stake in shares of G-III Apparel Group by 10.2% in the third quarter. Royce & Associates LP now owns 38,064 shares of the textile maker’s stock valued at $1,162,000 after buying an additional 3,537 shares during the period. Finally, Empowered Funds LLC boosted its holdings in G-III Apparel Group by 54.3% in the third quarter. Empowered Funds LLC now owns 328,123 shares of the textile maker’s stock valued at $10,014,000 after acquiring an additional 115,491 shares during 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.