Agitated week ahead for G-III Apparel

The week ahead presents itself as an agitated one for G-III

Apparel, as its shares have been under scrutiny of several equity research firms for the past months. The stock has not left anyone indifferent though.

Shares of G-III Apparel opened at 24.15 on Friday 16th of December. G-III Apparel has a 52 week low of $17.31 (Rs 933) and a 52 week high of $45.38 (Rs 2,447). The stock’s 50-day moving average is $22.29 (Rs 1,201) and its 200-day moving average is $27.33 (Rs 1,473). The company has a market cap of $477.4 million (Rs 2,572crores )and a price-to-earnings ratio of 8.37.

A number of equity research firms have modified their stock ratings and price targets on shares of G-III Apparel (NASDAQ: GIII) in the last week:

• 
  G-III Apparel had its price target raised by analysts at Brean Murray from $28.00 to $31.00 (Rs 1,509 to Rs 1,671). The analysts now have a “buy” rating on the stock.
• G-III Apparel had its price target lowered by analysts at Piper Jaffray to $33.00 (Rs 1,779). The analysts now have an “overweight” rating on the stock.
• G-III Apparel had its price target raised by analysts at BMC Equities Research to $31.00.
• G-III Apparel was downgraded by analysts at Zacks Investment Research from a “neutral” rating to an “underperform” rating.

Meanwhile, analysts at Seeking Alpha have stressed that “G-III Apparel has a lot of positives going for it, but we had to significantly reduce the price target for the company after the latest reports. We had overestimated our expectations for the company for this year and next year, and they have not met our expectations. We think that the company has a lot of positives, but we expected margins to be better than they were this year. We expected their margins to be better than they were this year since they are in the high fashion industry and could pass on costs better to other companies. We have increased their discount rate a lot and reduced our expectations for the coming years.”