UBS Group Lowers G-III Apparel Group (NASDAQ:GIII) Price Target to $26.00

G-III Apparel Group (NASDAQ:GIII) had its price target decreased by UBS Group from $29.00 to $26.00 in a research report released on Monday,Benzinga reports. UBS Group currently has a neutral rating on the textile maker’s stock.

Several other research analysts have also recently issued reports on GIII. KeyCorp decreased their price target on G-III Apparel Group from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday. Telsey Advisory Group reduced their target price on G-III Apparel Group from $30.00 to $27.00 and set a “market perform” rating for the company in a report on Monday. Barclays decreased their price objective on shares of G-III Apparel Group from $21.00 to $18.00 and set an “underweight” rating for the company in a research note on Monday. Finally, Wall Street Zen upgraded G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.80.

G-III Apparel Group Stock Down 1.3%

Shares of NASDAQ:GIII opened at $21.77 on Monday. The firm has a market cap of $955.33 million, a PE ratio of 5.71 and a beta of 1.48. The company has a fifty day simple moving average of $25.88 and a 200 day simple moving average of $28.61. The company has a current ratio of 2.63, a quick ratio of 1.75 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.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Friday, June 6th. The textile maker reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.06. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business had revenue of $583.61 million for the quarter, compared to the consensus estimate of $579.48 million. During the same quarter last year, the business posted $0.12 EPS. The business’s revenue was down 4.3% on a year-over-year basis. On average, equities research analysts anticipate that G-III Apparel Group will post 4.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GIII. Strs Ohio acquired a new stake in shares of G-III Apparel Group in the first quarter valued at about $77,000. Intech Investment Management LLC grew its holdings in shares of G-III Apparel Group by 14.1% during the first quarter. Intech Investment Management LLC now owns 46,076 shares of the textile maker’s stock worth $1,260,000 after purchasing an additional 5,685 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in G-III Apparel Group by 8.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,197 shares of the textile maker’s stock worth $2,193,000 after purchasing an additional 6,062 shares during the last quarter. Optimize Financial Inc acquired a new position in G-III Apparel Group during the 1st quarter valued at about $762,000. Finally, Empowered Funds LLC boosted its position in shares of G-III Apparel Group by 0.3% in the 1st quarter. Empowered Funds LLC now owns 340,747 shares of the textile maker’s stock worth $9,319,000 after purchasing an additional 1,146 shares during the last quarter. 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.