Zacks Investment Research Downgrades Oxford Industries, Inc. (OXM) to Hold
Oxford Industries, Inc. (NYSE:OXM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
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. “
Several other equities analysts have also issued reports on the company. Needham & Company LLC started coverage on Oxford Industries in a report on Tuesday, July 18th. They issued a “buy” rating and a $68.00 target price for the company. FBR & Co started coverage on Oxford Industries in a report on Tuesday, July 11th. They issued an “outperform” rating and a $75.00 target price for the company. BidaskClub raised Oxford Industries from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. TheStreet raised Oxford Industries from a “c+” rating to a “b-” rating in a report on Thursday, June 15th. Finally, Telsey Advisory Group upped their target price on Oxford Industries from $53.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, June 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $68.56.
Oxford Industries (OXM) traded down 6.15% during mid-day trading on Wednesday, hitting $60.26. The stock had a trading volume of 217,876 shares. Oxford Industries has a 1-year low of $49.50 and a 1-year high of $76.19. The firm’s 50-day moving average price is $61.17 and its 200-day moving average price is $58.40. The stock has a market cap of $1.01 billion, a PE ratio of 20.30 and a beta of 0.36.
Oxford Industries (NYSE:OXM) last released its earnings results on Thursday, August 31st. The textile maker reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.01. The company had revenue of $284.70 million during 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 quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $1.48 earnings per share. On average, equities analysts expect that Oxford Industries will post $3.59 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC grew its holdings in Oxford Industries by 4.2% during the second quarter. Lord Abbett & CO. LLC now owns 202,087 shares of the textile maker’s stock valued at $12,628,000 after purchasing an additional 8,200 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Oxford Industries during the second quarter valued at $1,768,000. Piedmont Investment Advisors LLC bought a new position in Oxford Industries during the second quarter valued at $203,000. Westwood Holdings Group Inc. grew its holdings in Oxford Industries by 34.1% during the second quarter. Westwood Holdings Group Inc. now owns 318,023 shares of the textile maker’s stock valued at $19,873,000 after purchasing an additional 80,913 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Oxford Industries by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 12,737 shares of the textile maker’s stock valued at $795,000 after purchasing an additional 470 shares during the period. 86.61% of the stock is owned by institutional investors and hedge funds.
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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