Clothing Group G-III (NASDAQ:GIII – Get Note) had its price target lowered by equity analysts at UBS Group from $31.00 to $22.00 in a note to investors on Friday, reports The Fly. The brokerage currently has a “neutral” rating on shares of the textile maker. UBS Group’s price target indicates upside potential of 9.67% from the company’s current price.
Several other research analysts have also recently published reports on the company. StockNews.com moved the G-III Apparel Group from a “buy” rating to a “hold” rating in a Wednesday, June 8 research note. B. Riley lowered his target price on G-III Apparel Group from $41.00 to $37.00 and set a “buy” rating for the company in a Wednesday, June 8 report. Barclays restated an “equal weight” rating and set a target price of $22.00 on shares of G-III Apparel Group in a Wednesday, June 15 report. Wells Fargo & Company began covering apparel group G-III in a report on Monday, July 11. They set an “equal weight” rating and a price target of $20.00 for the company. Finally, TheStreet downgraded G-III Apparel Group from a “b-” rating to a “c+” rating in a Tuesday, July 5 report. Five analysts have rated the stock with a hold rating and one has issued a buy rating for the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.20.
Clothing Group G-III Price Performance
GIII opened at $20.06 on Friday. The company has a market capitalization of $967.29 million, a price-earnings ratio of 4.83 and a beta of 2.51. The stock’s 50-day simple moving average is $22.75 and its 200-day simple moving average is $25.82. G-III Apparel Group has a 1-year low of $19.38 and a 1-year high of $35.12. The company has a debt ratio of 0.33, a current ratio of 3.58 and a quick ratio of 2.36.
G-III Apparel Group (NASDAQ:GIII – Get Rating) last reported results on Tuesday, June 7. The textile maker reported EPS of $0.72 for the quarter, beating consensus analyst estimates of $0.58 from $0.14. G-III Apparel Group achieved a return on equity of 14.09% and a net margin of 6.98%. The company posted revenue of $688.80 million for the quarter, compared to $597.35 million expected by analysts. In the same quarter a year earlier, the company posted earnings per share of $0.53. The company’s quarterly revenue increased 32.5% year over year. As a group, analysts predict G-III Apparel Group will post earnings per share of 4.47 for the current year.
Hedge funds weigh on G-III Apparel Group
A number of hedge funds and other institutional investors have recently increased or reduced their stakes in GIII. UBS Asset Management Americas Inc. increased its stake in G-III Apparel Group by 21.2% in the third quarter. UBS Asset Management Americas Inc. now owns 59,320 shares of the textile maker worth $1,679,000 after acquiring 10,390 additional shares in the last quarter. Spire Wealth Management bought a new position in G-III Apparel Group in Q4 worth $111,000. AE Wealth Management LLC acquired a new position in G-III Apparel Group in Q4 worth $755,000. Brown Advisory Inc. bought a new position in G-III Apparel Group in Q4 worth $394,000. Finally, Janney Montgomery Scott LLC increased its stake in G-III Apparel Group by 14.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 10,202 shares of the textile maker worth $282,000 after acquiring 1,250 additional shares in the last quarter. Hedge funds and other institutional investors hold 92.61% of the company’s shares.
About Clothing Group G-III
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G-III Apparel Group, Ltd. designs, sources and markets women’s and men’s clothing in the United States and around the world. 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 apparel; and women’s handbags, shoes, small leather goods, cold weather accessories and luggage.
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