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

Movado Group (NYSE:MOV)‘s stock had its “buy” rating reiterated by equities research analysts at BWS Financial in a note issued to investors on Tuesday, Benzinga reports. They presently have a $45.00 price target on the stock. BWS Financial’s target price would indicate a potential upside of 35.07% from the company’s current price.

Other research analysts also recently issued reports about the company. Zacks Research raised Movado Group from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Northland Securities set a $35.00 price target on Movado Group in a report on Wednesday, May 27th. Wall Street Zen lowered shares of Movado Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Movado Group in a research report on Tuesday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Movado Group presently has an average rating of “Buy” and a consensus target price of $40.00.

Movado Group Price Performance

Shares of MOV traded down $0.41 during trading hours on Tuesday, hitting $33.32. The stock had a trading volume of 30,691 shares, compared to its average volume of 189,411. The company’s fifty day moving average is $37.23 and its two-hundred day moving average is $31.34. Movado Group has a 52 week low of $17.24 and a 52 week high of $40.50. The stock has a market capitalization of $735.64 million, a price-to-earnings ratio of 18.56 and a beta of 0.97.

Movado Group (NYSE:MOV) last released its quarterly earnings results on Wednesday, August 26th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.19. The firm had revenue of $169.75 million for the quarter, compared to analyst estimates of $164.20 million. Movado Group had a net margin of 6.00% and a return on equity of 8.49%. Equities analysts predict that Movado Group will post 1.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Movado Group during the 2nd quarter worth about $52,824,000. Vanguard Group Inc. raised its holdings in Movado Group by 5.9% in the third 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 during the period. Goldman Sachs Group Inc. boosted its position in shares of Movado Group by 3.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 888,244 shares of the company’s stock worth $18,316,000 after purchasing an additional 29,137 shares in the last quarter. Brandes Investment Partners LP boosted its position in shares of Movado Group by 5.6% during the fourth quarter. Brandes Investment Partners LP now owns 704,036 shares of the company’s stock worth $14,517,000 after purchasing an additional 37,587 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Movado Group by 14.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 636,862 shares of the company’s stock valued at $9,712,000 after buying an additional 80,109 shares during the period. 72.08% of the stock is currently owned by institutional investors.

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.