Movado Group (NYSE:MOV) Stock Rating Upgraded by Wall Street Zen

Movado Group (NYSE:MOV) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Other research analysts have also recently issued reports about the stock. Zacks Research upgraded shares of Movado Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. BWS Financial reiterated a “buy” rating and set a $31.50 price target on shares of Movado Group in a research note on Monday, February 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Movado Group in a report on Monday, December 29th. Finally, Northland Securities assumed coverage on Movado Group in a report on Wednesday, January 7th. They issued an “outperform” rating and a $30.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

Movado Group Price Performance

Shares of Movado Group stock opened at $24.48 on Friday. The business has a 50-day simple moving average of $21.94 and a 200 day simple moving average of $19.48. Movado Group has a one year low of $12.85 and a one year high of $25.22. The firm has a market capitalization of $541.94 million, a price-to-earnings ratio of 25.24 and a beta of 0.95.

Movado Group (NYSE:MOV) last announced its quarterly earnings data on Tuesday, November 25th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.12). Movado Group had a net margin of 3.33% and a return on equity of 5.86%. The firm had revenue of $186.13 million during the quarter, compared to analyst estimates of $185.89 million. During the same period last year, the business posted $0.22 EPS. On average, sell-side analysts expect that Movado Group will post 1.05 EPS for the current year.

Insider Buying and Selling

In other news, SVP Michelle Kennedy sold 1,290 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $20.89, for a total transaction of $26,948.10. Following the completion of the transaction, the senior vice president owned 27,857 shares in the company, valued at approximately $581,932.73. This represents a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 30.80% of the company’s stock.

Hedge Funds Weigh In On Movado Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOV. PNC Financial Services Group Inc. grew its position in Movado Group by 39.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock worth $33,000 after buying an additional 449 shares in the last quarter. Comerica Bank boosted its position in shares of Movado Group by 99.0% during the 3rd quarter. Comerica Bank now owns 1,785 shares of the company’s stock valued at $34,000 after acquiring an additional 888 shares during the last quarter. Laurel Wealth Advisors LLC bought a new stake in shares of Movado Group during the 4th quarter valued at about $42,000. CWM LLC grew its holdings in shares of Movado Group by 49.9% during the second quarter. CWM LLC now owns 2,588 shares of the company’s stock worth $39,000 after purchasing an additional 862 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Movado Group in the second quarter worth approximately $40,000. Institutional investors own 72.08% of the company’s stock.

Movado Group Company Profile

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.