UBS Group Issues Pessimistic Forecast for G-III Apparel Group (NASDAQ:GIII) Stock Price

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

Other equities analysts have also recently issued reports about the company. KeyCorp increased their price target on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Monday. Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 target price on shares of G-III Apparel Group in a report on Wednesday, December 18th. Barclays increased their target price on G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a report on Wednesday, December 11th. Finally, Guggenheim increased their target price on G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $33.33.

G-III Apparel Group Stock Performance

Shares of GIII stock opened at $26.57 on Tuesday. The business’s 50 day simple moving average is $30.35 and its 200 day simple moving average is $30.48. G-III Apparel Group has a one year low of $20.66 and a one year high of $36.18. The stock has a market capitalization of $1.17 billion, a PE ratio of 6.97 and a beta of 2.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75.

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

Hedge Funds Weigh In On G-III Apparel Group

Hedge funds have recently bought and sold shares of the company. Vestcor Inc boosted its holdings in G-III Apparel Group by 197.7% during the 3rd quarter. Vestcor Inc now owns 31,323 shares of the textile maker’s stock worth $956,000 after acquiring an additional 20,800 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in G-III Apparel Group by 80.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker’s stock worth $4,075,000 after acquiring an additional 59,718 shares during the last quarter. Geode Capital Management LLC boosted its holdings in G-III Apparel Group by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock worth $29,833,000 after acquiring an additional 11,196 shares during the last quarter. EMC Capital Management boosted its holdings in G-III Apparel Group by 345.5% during the 4th quarter. EMC Capital Management now owns 11,965 shares of the textile maker’s stock worth $390,000 after acquiring an additional 9,279 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of G-III Apparel Group by 46.6% during the 4th quarter. New York State Common Retirement Fund now owns 44,071 shares of the textile maker’s stock worth $1,438,000 after purchasing an additional 14,016 shares during the period. 92.13% of the stock is 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.