Movado Group’s (MOV) “Buy” Rating Reaffirmed at BWS Financial

Movado Group (NYSE:MOV)‘s stock had its “buy” rating restated by analysts at BWS Financial in a research report issued on Monday,Benzinga reports. They presently have a $31.50 price target on the stock. BWS Financial’s price objective points to a potential upside of 126.62% from the company’s previous close.

Separately, StockNews.com cut shares of Movado Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th.

Movado Group Stock Up 3.2 %

Shares of MOV opened at $13.90 on Monday. The stock’s fifty day simple moving average is $16.97 and its 200-day simple moving average is $18.66. The firm has a market capitalization of $307.79 million, a PE ratio of 13.37 and a beta of 0.92. Movado Group has a 12-month low of $12.85 and a 12-month high of $27.80.

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

Hedge Funds Weigh In On Movado Group

Several institutional investors have recently modified their holdings of MOV. Royce & Associates LP raised its position in shares of Movado Group by 1.3% in the 4th quarter. Royce & Associates LP now owns 1,475,354 shares of the company’s stock valued at $29,035,000 after acquiring an additional 18,545 shares during the period. Vanguard Group Inc. raised its holdings in Movado Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 959,424 shares of the company’s stock worth $18,881,000 after purchasing an additional 9,999 shares during the period. Ameriprise Financial Inc. raised its holdings in Movado Group by 19.3% in the fourth quarter. Ameriprise Financial Inc. now owns 549,455 shares of the company’s stock worth $10,813,000 after purchasing an additional 88,778 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Movado Group by 202.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company’s stock worth $9,414,000 after purchasing an additional 320,103 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Movado Group by 10.2% in the 4th quarter. Millennium Management LLC now owns 443,179 shares of the company’s stock valued at $8,722,000 after buying an additional 41,063 shares during the period. 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.