Movado Group, Inc (MOV) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Movado Group, Inc (NYSE:MOV) have been assigned an average recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $25.00.

A number of equities analysts have recently commented on the stock. ValuEngine raised shares of Movado Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research downgraded shares of Movado Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th.

In related news, CFO Sallie A. Demarsilis sold 5,401 shares of Movado Group stock in a transaction on Monday, November 27th. The shares were sold at an average price of $28.44, for a total transaction of $153,604.44. Following the sale, the chief financial officer now owns 31,978 shares of the company’s stock, valued at approximately $909,454.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Cote sold 1,600 shares of Movado Group stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $32.05, for a total transaction of $51,280.00. Following the sale, the director now directly owns 394,296 shares in the company, valued at approximately $12,637,186.80. The disclosure for this sale can be found here. In the last three months, insiders sold 14,951 shares of company stock worth $461,157. Insiders own 33.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. QS Investors LLC increased its stake in Movado Group by 0.5% during the 2nd quarter. QS Investors LLC now owns 5,748 shares of the company’s stock worth $145,000 after buying an additional 27 shares during the period. PNC Financial Services Group Inc. increased its stake in Movado Group by 1.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,855 shares of the company’s stock worth $122,000 after buying an additional 78 shares during the period. The Manufacturers Life Insurance Company increased its stake in Movado Group by 4.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,366 shares of the company’s stock worth $337,000 after buying an additional 623 shares during the period. Public Employees Retirement System of Ohio increased its stake in Movado Group by 5.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 13,343 shares of the company’s stock worth $337,000 after buying an additional 647 shares during the period. Finally, Voya Investment Management LLC increased its stake in Movado Group by 4.3% during the 2nd quarter. Voya Investment Management LLC now owns 35,217 shares of the company’s stock worth $889,000 after buying an additional 1,453 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Movado Group (NYSE:MOV) opened at $30.80 on Wednesday. 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 cap of $708.82, a P/E ratio of 29.90 and a beta of -0.02. Movado Group has a one year low of $20.50 and a one year high of $33.95.

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 Zacks’ consensus estimate of $0.86 by $0.18. Movado Group had a net margin of 4.35% and a return on equity of 8.34%. The company had revenue of $190.69 million for the quarter, compared to the consensus estimate of $176.33 million. During the same quarter last year, the firm posted $0.91 earnings per share. Movado Group’s revenue was up 6.0% on a year-over-year basis. equities analysts expect that Movado Group will post 1.74 EPS for the current year.

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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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