Movado Group (NYSE:MOV) Earns “Buy” Rating from BWS Financial

Movado Group (NYSE:MOV)‘s stock had its “buy” rating reiterated by equities researchers at BWS Financial in a note issued to investors on Monday,Benzinga reports. They currently have a $45.00 price objective on the stock. BWS Financial’s target price would indicate a potential upside of 22.38% from the company’s current price.

MOV has been the topic of a number of other research reports. Northland Securities set a $35.00 price objective on Movado Group in a research report on Wednesday, May 27th. Zacks Research raised Movado Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Finally, Weiss Ratings lowered shares of Movado Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $40.00.

Movado Group Trading Up 0.7%

NYSE MOV traded up $0.26 during trading hours on Monday, reaching $36.77. The company had a trading volume of 43,411 shares, compared to its average volume of 189,491. The stock has a market capitalization of $811.90 million, a P/E ratio of 26.30 and a beta of 0.96. The stock has a 50-day moving average of $36.32 and a 200 day moving average of $28.87. Movado Group has a 1-year low of $14.78 and a 1-year high of $39.85.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.06 by $0.26. Movado Group had a net margin of 4.70% and a return on equity of 7.13%. The firm had revenue of $142.40 million for the quarter, compared to analyst estimates of $135.12 million. During the same period in the prior year, the business posted $0.06 EPS. As a group, sell-side analysts predict that Movado Group will post 1.83 EPS for the current year.

Institutional Investors Weigh In On Movado Group

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Movado Group by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,029,220 shares of the company’s stock worth $19,524,000 after purchasing an additional 57,353 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Movado Group by 3.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 888,244 shares of the company’s stock valued at $18,316,000 after buying an additional 29,137 shares during the period. Brandes Investment Partners LP raised its position in Movado Group by 5.6% during the fourth quarter. Brandes Investment Partners LP now owns 704,036 shares of the company’s stock valued at $14,517,000 after buying an additional 37,587 shares during the period. Ameriprise Financial Inc. lifted its stake in Movado Group by 14.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 636,862 shares of the company’s stock worth $9,712,000 after acquiring an additional 80,109 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Movado Group by 19.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 388,418 shares of the company’s stock worth $8,009,000 after acquiring an additional 62,278 shares during the period. 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.