Oxford Industries, Inc. (OXM) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Oxford Industries, Inc. (NYSE:OXM) from a buy rating to a hold rating in a report issued on Wednesday morning.
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. “
A number of other brokerages have also recently weighed in on OXM. DA Davidson cut Oxford Industries from a buy rating to a neutral rating and set a $68.00 price objective on the stock. in a report on Friday, September 8th. TheStreet raised Oxford Industries from a c+ rating to a b- rating in a report on Thursday, June 15th. BidaskClub raised Oxford Industries from a hold rating to a buy rating in a report on Tuesday, June 13th. B. Riley reissued a buy rating and set a $66.00 price objective on shares of Oxford Industries in a report on Saturday, June 10th. Finally, Needham & Company LLC began coverage on Oxford Industries in a report on Tuesday, July 18th. They set a buy rating and a $68.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Oxford Industries currently has a consensus rating of Buy and a consensus price target of $68.11.
Shares of Oxford Industries (OXM) opened at 60.16 on Wednesday. The company has a market capitalization of $1.01 billion, a PE ratio of 20.80 and a beta of 0.36. The stock’s 50 day moving average price is $60.61 and its 200 day moving average price is $58.59. Oxford Industries has a 12-month low of $49.50 and a 12-month high of $76.19.
Oxford Industries (NYSE:OXM) last announced its quarterly earnings data on Thursday, August 31st. The textile maker reported $1.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.01. The company had revenue of $284.70 million for the quarter, compared to analysts’ expectations of $291.34 million. Oxford Industries had a return on equity of 13.56% and a net margin of 4.64%. Oxford Industries’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm posted $1.48 EPS. On average, equities research analysts forecast that Oxford Industries will post $3.59 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.08 annualized dividend and a yield of 1.80%. Oxford Industries’s payout ratio is 37.37%.
Several hedge funds have recently modified their holdings of the company. Lord Abbett & CO. LLC grew its position in shares of Oxford Industries by 4.2% in the 2nd quarter. Lord Abbett & CO. LLC now owns 202,087 shares of the textile maker’s stock worth $12,628,000 after buying an additional 8,200 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Oxford Industries in the 2nd quarter worth approximately $1,768,000. Piedmont Investment Advisors LLC bought a new stake in shares of Oxford Industries in the 2nd quarter worth approximately $203,000. Westwood Holdings Group Inc. grew its position in shares of Oxford Industries by 34.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 318,023 shares of the textile maker’s stock worth $19,873,000 after buying an additional 80,913 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Oxford Industries by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,737 shares of the textile maker’s stock worth $795,000 after buying an additional 470 shares during the last quarter. Hedge funds and other institutional investors own 86.55% of the company’s stock.
About Oxford Industries
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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