Movado Group (NYSE:MOV) Rating Increased to Strong-Buy at Wall Street Zen

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

MOV has been the topic of a number of other research reports. BWS Financial restated a “buy” rating and set a $31.50 price target on shares of Movado Group in a research note on Monday. Zacks Research upgraded shares of Movado Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Northland Securities initiated coverage on shares of Movado Group in a report on Wednesday, January 7th. They issued an “outperform” rating and a $30.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Movado Group in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.75.

Movado Group Price Performance

Shares of MOV opened at $24.48 on Friday. Movado Group has a 1-year low of $12.85 and a 1-year high of $25.22. The stock has a market cap of $541.99 million, a PE ratio of 25.24 and a beta of 0.95. The firm has a fifty day moving average price of $21.94 and a 200 day moving average price of $19.44.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Tuesday, November 25th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.12). Movado Group had a return on equity of 5.86% and a net margin of 3.33%.The firm had revenue of $186.13 million for the quarter, compared to analysts’ expectations of $185.89 million. During the same period in the previous year, the business posted $0.22 EPS. As a group, equities analysts expect that Movado Group will post 1.05 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Michelle Kennedy sold 1,290 shares of Movado Group stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $20.89, for a total value of $26,948.10. Following the sale, the senior vice president owned 27,857 shares of the company’s stock, valued at $581,932.73. The trade was a 4.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 30.80% of the company’s stock.

Institutional Investors Weigh In On Movado Group

A number of hedge funds have recently added to or reduced their stakes in MOV. Goldman Sachs Group Inc. boosted its holdings in Movado Group by 212.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company’s stock valued at $11,226,000 after purchasing an additional 456,727 shares in the last quarter. Brandes Investment Partners LP purchased a new position in shares of Movado Group during the 2nd quarter worth approximately $5,540,000. Russell Investments Group Ltd. lifted its holdings in shares of Movado Group by 426.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 176,015 shares of the company’s stock valued at $2,684,000 after buying an additional 142,601 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Movado Group by 153.4% in the second quarter. JPMorgan Chase & Co. now owns 161,178 shares of the company’s stock valued at $2,458,000 after buying an additional 97,566 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Movado Group by 14.4% in the second 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 in 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.