Oxford Industries, Inc. (OXM) Lifted to Buy at Zacks Investment Research
Oxford Industries, Inc. (NYSE:OXM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $71.00 price objective on the textile maker’s stock. Zacks Investment Research‘s price target suggests a potential upside of 17.82% from the stock’s current price.
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. “
OXM has been the topic of a number of other reports. BidaskClub lowered Oxford Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. TheStreet raised Oxford Industries from a “c+” rating to a “b-” rating in a research report on Thursday, June 15th. FBR & Co assumed coverage on Oxford Industries in a research report on Tuesday, July 11th. They set an “outperform” rating and a $75.00 target price on the stock. Needham & Company LLC cut their target price on Oxford Industries from $68.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, September 1st. Finally, Telsey Advisory Group boosted their target price on Oxford Industries from $53.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 7th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $68.56.
Oxford Industries (OXM) traded down 6.15% during mid-day trading on Thursday, reaching $60.26. The company’s stock had a trading volume of 217,876 shares. The company has a market capitalization of $1.01 billion, a PE ratio of 20.30 and a beta of 0.36. The firm has a 50 day moving average price of $61.17 and a 200-day moving average price of $58.40. Oxford Industries has a 1-year low of $49.50 and a 1-year high of $76.19.
Oxford Industries (NYSE:OXM) last announced its earnings results on Thursday, August 31st. The textile maker reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.01. The company had revenue of $284.70 million for the quarter, compared to analyst estimates 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 in the previous year, the firm earned $1.48 earnings per share. On average, equities analysts predict that Oxford Industries will post $3.59 EPS for the current fiscal year.
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Several hedge funds have recently modified their holdings of OXM. Louisiana State Employees Retirement System grew its holdings in shares of Oxford Industries by 1.7% during the first quarter. Louisiana State Employees Retirement System now owns 6,100 shares of the textile maker’s stock valued at $349,000 after buying an additional 100 shares in the last quarter. Nationwide Fund Advisors grew its holdings in shares of Oxford Industries by 10.9% during the first quarter. Nationwide Fund Advisors now owns 67,742 shares of the textile maker’s stock valued at $3,879,000 after buying an additional 6,661 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Oxford Industries by 48.7% during the first quarter. Wells Fargo & Company MN now owns 35,529 shares of the textile maker’s stock valued at $2,035,000 after buying an additional 11,637 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Oxford Industries by 8.3% during the first quarter. Great West Life Assurance Co. Can now owns 20,705 shares of the textile maker’s stock valued at $1,185,000 after buying an additional 1,586 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Oxford Industries by 42.6% during the first quarter. First Trust Advisors LP now owns 36,319 shares of the textile maker’s stock valued at $2,080,000 after buying an additional 10,841 shares in the last quarter. Institutional investors and hedge funds own 86.61% 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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