Movado Group (MOV) Upgraded at ValuEngine

ValuEngine upgraded shares of Movado Group (NYSE:MOV) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Movado Group from a buy rating to a hold rating in a research report on Thursday, January 25th. KeyCorp restated a hold rating on shares of Movado Group in a research report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $28.50.

Shares of Movado Group (NYSE:MOV) opened at $29.35 on Friday. The company has a market cap of $680.14, a price-to-earnings ratio of 28.50 and a beta of -0.02. Movado Group has a 1 year low of $20.50 and a 1 year high of $33.95. The company has a current ratio of 4.80, a quick ratio of 3.12 and a debt-to-equity ratio of 0.05.

Movado Group (NYSE:MOV) last issued its earnings results on Tuesday, November 21st. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.86 by $0.18. The company had revenue of $190.69 million during the quarter, compared to analysts’ expectations of $176.33 million. Movado Group had a net margin of 4.35% and a return on equity of 8.34%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS. equities research analysts forecast that Movado Group will post 1.74 earnings per share for the current fiscal year.

In related news, Director Richard Cote sold 1,600 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $32.05, for a total value of $51,280.00. Following the completion of the sale, the director now owns 394,296 shares in the company, valued at approximately $12,637,186.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Sallie A. Demarsilis sold 5,401 shares of the company’s 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 completion of the sale, the chief financial officer now owns 31,978 shares of the company’s stock, valued at approximately $909,454.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,451 shares of company stock valued at $446,622. 33.30% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Movado Group by 62.5% in the 2nd quarter. FMR LLC now owns 588,709 shares of the company’s stock valued at $14,865,000 after buying an additional 226,510 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Movado Group in the 2nd quarter worth $13,810,000. Deprince Race & Zollo Inc. boosted its stake in Movado Group by 3.7% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 438,144 shares of the company’s stock worth $12,268,000 after purchasing an additional 15,730 shares during the period. Northern Trust Corp boosted its stake in Movado Group by 31.5% in the 2nd quarter. Northern Trust Corp now owns 400,216 shares of the company’s stock worth $10,105,000 after purchasing an additional 95,967 shares during the period. Finally, LSV Asset Management boosted its stake in Movado Group by 2.9% in the 4th quarter. LSV Asset Management now owns 230,672 shares of the company’s stock worth $7,427,000 after purchasing an additional 6,600 shares during the period. Institutional investors and hedge funds own 64.64% of the company’s stock.

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Movado Group Company Profile

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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