G-III Apparel Group (GIII) Price Target Raised to $39.00 at Barclays

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G-III Apparel Group (NASDAQ:GIII) had its price objective upped by equities researchers at Barclays from $36.00 to $39.00 in a research report issued to clients and investors on Friday. The brokerage currently has an “equal weight” rating on the textile maker’s stock. Barclays‘s price target points to a potential upside of 3.31% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective (up from $50.00) on shares of G-III Apparel Group in a research note on Friday. ValuEngine upgraded shares of G-III Apparel Group from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research downgraded shares of G-III Apparel Group from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. BidaskClub downgraded shares of G-III Apparel Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 5th. Finally, Bank of America assumed coverage on shares of G-III Apparel Group in a research note on Friday, March 1st. They set a “buy” rating and a $45.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $46.58.

Shares of G-III Apparel Group stock opened at $37.75 on Friday. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.62 and a beta of 0.97. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.55 and a current ratio of 2.54. G-III Apparel Group has a 12-month low of $25.43 and a 12-month high of $51.20.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Thursday, March 21st. The textile maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.11. The firm had revenue of $766.80 million for the quarter, compared to the consensus estimate of $767.89 million. G-III Apparel Group had a net margin of 4.49% and a return on equity of 12.94%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. On average, analysts predict that G-III Apparel Group will post 3.14 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in shares of G-III Apparel Group by 39.9% in the fourth quarter. American Century Companies Inc. now owns 254,484 shares of the textile maker’s stock worth $7,098,000 after acquiring an additional 72,639 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of G-III Apparel Group by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 491,558 shares of the textile maker’s stock worth $13,709,000 after acquiring an additional 39,351 shares during the last quarter. Norges Bank bought a new position in shares of G-III Apparel Group in the fourth quarter worth about $13,887,000. Nordea Investment Management AB lifted its holdings in shares of G-III Apparel Group by 38.1% in the fourth quarter. Nordea Investment Management AB now owns 79,700 shares of the textile maker’s stock worth $2,223,000 after acquiring an additional 22,000 shares during the last quarter. Finally, Penn Capital Management Co. Inc. lifted its holdings in shares of G-III Apparel Group by 28.9% in the fourth quarter. Penn Capital Management Co. Inc. now owns 358,826 shares of the textile maker’s stock worth $11,444,000 after acquiring an additional 80,407 shares during the last quarter.

About G-III Apparel Group

G-III Apparel Group, Ltd. designs, manufactures, and markets women's and men's apparel in the United States and internationally. The company operates in 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.

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