Movado Group (NYSE:MOV) Stock Rating Upgraded by 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 note issued to investors on Saturday, Wall Street Zen reports.

MOV has been the topic of several other reports. Weiss Ratings downgraded Movado Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 22nd. BWS Financial reissued a “buy” rating and issued a $45.00 price objective on shares of Movado Group in a report on Tuesday, September 1st. Finally, Zacks Research downgraded Movado Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $40.00.

Movado Group Trading Up 0.2%

Shares of NYSE MOV opened at $31.08 on Friday. The company has a 50 day simple moving average of $32.72 and a two-hundred day simple moving average of $31.08. The stock has a market cap of $693.46 million, a price-to-earnings ratio of 17.27 and a beta of 0.90. Movado Group has a 12 month low of $17.74 and a 12 month high of $40.50.

Movado Group (NYSE:MOV) last released its quarterly earnings data on Wednesday, August 26th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.19. Movado Group had a net margin of 6.00% and a return on equity of 8.49%. The firm had revenue of $169.75 million for the quarter, compared to analyst estimates of $164.20 million. Analysts forecast that Movado Group will post 1.94 EPS for the current year.

Institutional Trading of Movado Group

A number of hedge funds have recently added to or reduced their stakes in MOV. Allworth Financial LP raised its holdings in Movado Group by 128.4% in the 2nd quarter. Allworth Financial LP now owns 676 shares of the company’s stock worth $27,000 after purchasing an additional 380 shares during the period. State of Alaska Department of Revenue acquired a new stake in Movado Group in the third quarter valued at approximately $27,000. Signaturefd LLC increased its position in shares of Movado Group by 79.1% in the third quarter. Signaturefd LLC now owns 2,765 shares of the company’s stock valued at $92,000 after buying an additional 1,221 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Movado Group by 16,040.0% in the first quarter. Fifth Third Bancorp now owns 1,614 shares of the company’s stock valued at $39,000 after buying an additional 1,604 shares in the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Movado Group during the 3rd quarter worth approximately $68,000. 72.08% of the stock is owned by hedge funds and other institutional investors.

About Movado Group

Movado Group, Inc is a designer, manufacturer, and distributor of watches and related accessories. The company’s portfolio includes its Movado brand, known for minimalist designs and the Museum dial, as well as a range of licensed and owned brands that have included Ebel, Concord, MVMT, Olivia Burton, and fashion-label watch collections.

Movado Group sells watches, jewelry, and accessories through department and specialty stores, authorized retailers, company-operated stores, e-commerce platforms, and other distribution channels.