Movado Group’s (MOV) Buy Rating Reiterated at BWS Financial

Movado Group (NYSE:MOV)‘s stock had its “buy” rating reissued by BWS Financial in a note issued to investors on Monday,Benzinga reports. They currently have a $31.50 price target on the stock. BWS Financial’s target price suggests a potential upside of 142.27% from the stock’s previous close.

Separately, StockNews.com lowered Movado Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th.

Movado Group Stock Performance

Shares of Movado Group stock opened at $13.00 on Monday. Movado Group has a 52 week low of $12.85 and a 52 week high of $27.80. The stock has a market capitalization of $287.90 million, a price-to-earnings ratio of 12.50 and a beta of 0.92. The firm has a fifty day moving average of $17.21 and a two-hundred day moving average of $18.74.

Movado Group (NYSE:MOV) last announced its quarterly earnings results on Wednesday, April 16th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.12. Movado Group had a net margin of 3.62% and a return on equity of 5.38%. The company had revenue of $181.48 million for the quarter, compared to analysts’ expectations of $180.62 million. As a group, research analysts forecast that Movado Group will post 1.05 EPS for the current fiscal year.

Institutional Trading of Movado Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its holdings in Movado Group by 393.0% in the third quarter. FMR LLC now owns 7,400 shares of the company’s stock worth $138,000 after acquiring an additional 5,899 shares in the last quarter. Barclays PLC increased its stake in shares of Movado Group by 368.7% in the third quarter. Barclays PLC now owns 26,664 shares of the company’s stock worth $496,000 after purchasing an additional 20,975 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Movado Group by 1.7% during the third quarter. Geode Capital Management LLC now owns 355,152 shares of the company’s stock valued at $6,607,000 after buying an additional 5,990 shares during the period. Virtu Financial LLC bought a new stake in shares of Movado Group during the 3rd quarter valued at about $364,000. Finally, Confluence Investment Management LLC lifted its stake in Movado Group by 60.6% during the fourth quarter. Confluence Investment Management LLC now owns 176,057 shares of the company’s stock worth $3,465,000 after purchasing an additional 66,422 shares during the last quarter. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Movado Group Company Profile

Movado Group, Inc designs, sources, markets, and distributes watches in the United States and internationally. The company operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands comprising Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.