Movado Group (NYSE:MOV) Receives “Buy” Rating from BWS Financial

Movado Group (NYSE:MOV)‘s stock had its “buy” rating reiterated by stock analysts at BWS Financial in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $45.00 price objective on the stock. BWS Financial’s target price points to a potential upside of 22.38% from the stock’s current price.

A number of other equities research analysts also recently weighed in on MOV. Zacks Research raised Movado Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Northland Securities set a $35.00 price target on Movado Group in a research note on Wednesday, May 27th. Finally, Weiss Ratings downgraded Movado Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $40.00.

Movado Group Stock Up 0.7%

Shares of Movado Group stock traded up $0.26 on Monday, hitting $36.77. 43,411 shares of the company traded hands, compared to its average volume of 189,491. Movado Group has a 12-month low of $14.78 and a 12-month high of $39.85. The company has a market cap of $811.90 million, a PE ratio of 26.30 and a beta of 0.96. The company has a 50-day moving average price of $36.32 and a 200 day moving average price of $28.87.

Movado Group (NYSE:MOV) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.26. The business had revenue of $142.40 million during the quarter, compared to analyst estimates of $135.12 million. Movado Group had a return on equity of 7.13% and a net margin of 4.70%.During the same period last year, the company earned $0.06 earnings per share. Equities research analysts anticipate that Movado Group will post 1.83 EPS for the current year.

Hedge Funds Weigh In On Movado Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Movado Group by 5.9% in the third quarter. Vanguard Group Inc. now owns 1,029,220 shares of the company’s stock valued at $19,524,000 after purchasing an additional 57,353 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Movado Group by 3.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 888,244 shares of the company’s stock worth $18,316,000 after buying an additional 29,137 shares during the period. Brandes Investment Partners LP boosted its holdings in shares of Movado Group by 5.6% during the 4th quarter. Brandes Investment Partners LP now owns 704,036 shares of the company’s stock worth $14,517,000 after buying an additional 37,587 shares during the period. Ameriprise Financial Inc. grew its stake in Movado Group by 14.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 636,862 shares of the company’s stock valued at $9,712,000 after buying an additional 80,109 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Movado Group by 19.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 388,418 shares of the company’s stock valued at $8,009,000 after buying an additional 62,278 shares during the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

About Movado Group

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.