Movado Group (NYSE:MOV) Stock Rating Lowered by Wall Street Zen

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

A number of other research firms also recently commented on MOV. BWS Financial reiterated a “buy” rating and issued a $31.50 price objective on shares of Movado Group in a report on Wednesday, November 26th. Northland Securities started coverage on Movado Group in a research report on Wednesday, January 7th. They issued an “outperform” rating and a $30.00 price target for the company. Zacks Research cut Movado Group from a “hold” rating to a “strong sell” rating in a report on Friday, November 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Movado Group in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.75.

Movado Group Stock Performance

Shares of MOV stock opened at $22.46 on Friday. Movado Group has a fifty-two week low of $12.85 and a fifty-two week high of $23.06. The stock’s fifty day moving average is $21.17 and its two-hundred day moving average is $18.96. The firm has a market capitalization of $497.26 million, a P/E ratio of 23.15 and a beta of 0.90.

Movado Group (NYSE:MOV) last issued its earnings results on Tuesday, November 25th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.12). The business had revenue of $186.13 million during the quarter, compared to analyst estimates of $185.89 million. Movado Group had a net margin of 3.33% and a return on equity of 5.86%. During the same quarter last year, the company earned $0.22 earnings per share. On average, equities analysts forecast that Movado Group will post 1.05 earnings per share for the current year.

Insider Buying and Selling at Movado Group

In other news, SVP Michelle Kennedy sold 1,290 shares of Movado Group stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $20.89, for a total value of $26,948.10. Following the completion of the sale, the senior vice president directly owned 27,857 shares of the company’s stock, valued at approximately $581,932.73. The trade was a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 30.80% of the company’s stock.

Hedge Funds Weigh In On Movado Group

A number of hedge funds and other institutional investors have recently bought and sold shares of MOV. CWM LLC grew its position in Movado Group by 28.2% in the 3rd quarter. CWM LLC now owns 3,318 shares of the company’s stock valued at $63,000 after acquiring an additional 730 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Movado Group by 20.4% during the third quarter. Harbor Capital Advisors Inc. now owns 4,655 shares of the company’s stock worth $88,000 after purchasing an additional 790 shares in the last quarter. Comerica Bank boosted its stake in shares of Movado Group by 99.0% in the third quarter. Comerica Bank now owns 1,785 shares of the company’s stock valued at $34,000 after purchasing an additional 888 shares during the period. Royal Bank of Canada grew its holdings in shares of Movado Group by 4.1% in the first quarter. Royal Bank of Canada now owns 26,524 shares of the company’s stock valued at $444,000 after purchasing an additional 1,042 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Movado Group by 0.3% in the second quarter. Geode Capital Management LLC now owns 374,858 shares of the company’s stock valued at $5,718,000 after purchasing an additional 1,131 shares in the last quarter. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

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.