Zacks Investment Research Upgrades Oxford Industries, Inc. (OXM) to “Buy”
Oxford Industries, Inc. (NYSE:OXM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $68.00 price target on the textile maker’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.73% from the company’s previous close.
According to Zacks, “Oxford Industries Inc.’s primary business is the design, manufacture, marketing and sale of consumer apparel products in the popular to better price ranges. Substantially all of their distribution facilities, offices and customers are located in the United States. Oxford is organized into four operating groups that reflect four major product lines: Oxford Shirt Group, Lanier Clothes, Oxford Slacks and the Oxford Womenswear Group. “
Several other equities analysts also recently weighed in on the company. FBR & Co restated a “buy” rating and issued a $75.00 target price on shares of Oxford Industries in a research report on Tuesday, September 12th. DA Davidson downgraded Oxford Industries from a “buy” rating to a “neutral” rating and set a $68.00 target price on the stock. in a research report on Friday, September 8th. Needham & Company LLC cut their price target on Oxford Industries from $68.00 to $62.00 and set a “buy” rating for the company in a report on Friday, September 1st. BidaskClub cut Oxford Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Finally, TheStreet raised Oxford Industries from a “c+” rating to a “b-” rating in a report on Thursday, June 15th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $68.22.
Shares of Oxford Industries (NYSE OXM) opened at 60.32 on Friday. Oxford Industries has a 1-year low of $49.50 and a 1-year high of $76.19. The company has a market cap of $1.01 billion, a P/E ratio of 20.86 and a beta of 0.36. The firm has a 50-day moving average price of $60.79 and a 200-day moving average price of $58.50.
Oxford Industries (NYSE:OXM) last released its earnings results on Thursday, August 31st. The textile maker reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.01. The business had revenue of $284.70 million for the quarter, compared to the consensus estimate of $291.34 million. Oxford Industries had a return on equity of 13.56% and a net margin of 4.64%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.48 earnings per share. On average, equities analysts expect that Oxford Industries will post $3.59 EPS for the current year.
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Hedge funds have recently bought and sold shares of the business. Morgan Stanley increased its stake in Oxford Industries by 412.2% during the first quarter. Morgan Stanley now owns 251,504 shares of the textile maker’s stock worth $14,401,000 after acquiring an additional 202,405 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Oxford Industries by 14.8% in the first quarter. Bank of America Corp DE now owns 152,993 shares of the textile maker’s stock valued at $8,760,000 after buying an additional 19,675 shares in the last quarter. Airain ltd acquired a new stake in shares of Oxford Industries in the first quarter valued at $670,000. Schroder Investment Management Group acquired a new stake in shares of Oxford Industries in the first quarter valued at $13,408,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Oxford Industries by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 612,624 shares of the textile maker’s stock valued at $38,283,000 after buying an additional 31,195 shares in the last quarter. 86.56% of the stock is owned by institutional investors.
Oxford Industries Company Profile
Oxford Industries, Inc is an apparel company. The Company designs, sources, markets and distributes products bearing the trademarks of its owned Tommy Bahama, Lilly Pulitzer and Southern Tide lifestyle brands, other owned brands and licensed brands, as well as private label apparel products. It distributes its lifestyle branded products through its direct to consumer channels, consisting of its Tommy Bahama and Lilly Pulitzer full-price retail stores and its e-commerce sites for Tommy Bahama, Lilly Pulitzer and Southern Tide, and through its wholesale distribution channels.
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