Movado Group (MOV) Upgraded to “Buy” by ValuEngine
Movado Group (NYSE:MOV) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.
Several other research analysts also recently weighed in on MOV. KeyCorp reiterated a “hold” rating on shares of Movado Group in a research note on Wednesday, October 11th. Zacks Investment Research upgraded Movado Group from a “hold” rating to a “strong-buy” rating and set a $32.00 price target for the company in a research note on Saturday, September 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $30.33.
Movado Group (NYSE MOV) opened at $32.20 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.12 and a current ratio of 4.80. The firm has a market capitalization of $738.64, a price-to-earnings ratio of 31.26 and a beta of 0.21. Movado Group has a 12 month low of $20.50 and a 12 month high of $33.70.
Movado Group (NYSE:MOV) last posted its quarterly earnings results on Tuesday, November 21st. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.18. The company had revenue of $190.69 million during the quarter, compared to the consensus estimate of $176.33 million. Movado Group had a return on equity of 8.34% and a net margin of 4.35%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 EPS. research analysts forecast that Movado Group will post 1.74 earnings per share for the current fiscal year.
In other Movado Group news, CFO Sallie A. Demarsilis sold 5,401 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $28.44, for a total value of $153,604.44. Following the completion of the transaction, the chief financial officer now owns 31,978 shares in the company, valued at approximately $909,454.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard D. Isserman sold 2,650 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $32.07, for a total value of $84,985.50. Following the completion of the transaction, the director now owns 11,184 shares of the company’s stock, valued at approximately $358,670.88. The disclosure for this sale can be found here. 32.98% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MOV. Hillsdale Investment Management Inc. bought a new position in Movado Group in the 3rd quarter worth about $101,000. PNC Financial Services Group Inc. boosted its stake in Movado Group by 1.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,855 shares of the company’s stock worth $122,000 after purchasing an additional 78 shares during the period. QS Investors LLC boosted its stake in Movado Group by 0.5% in the 2nd quarter. QS Investors LLC now owns 5,748 shares of the company’s stock worth $145,000 after purchasing an additional 27 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Movado Group by 13.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,617 shares of the company’s stock valued at $167,000 after acquiring an additional 776 shares in the last quarter. Finally, Van Hulzen Asset Management LLC purchased a new stake in shares of Movado Group in the 3rd quarter valued at about $210,000. Institutional investors and hedge funds own 63.85% of the company’s stock.
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About Movado Group
Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains and department stores, as well as independent jewelers.
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