Movado Group (NYSE:MOV) Stock Rating Lowered by Wall Street Zen

Movado Group (NYSE:MOV) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

Several other equities analysts also recently commented on the stock. BWS Financial reiterated a “buy” rating and set a $31.50 price target on shares of Movado Group in a report on Wednesday, November 26th. Zacks Research lowered Movado Group from a “hold” rating to a “strong sell” rating in a research report on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Movado Group in a research note on Monday, December 29th. Finally, Northland Securities assumed coverage on Movado Group in a research note on Wednesday, January 7th. They set an “outperform” rating and a $30.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Movado Group presently has an average rating of “Moderate Buy” and a consensus target price of $30.75.

Movado Group Price Performance

Shares of MOV stock opened at $22.46 on Friday. The stock’s 50 day simple moving average is $21.17 and its two-hundred day simple moving average is $18.99. Movado Group has a 1 year low of $12.85 and a 1 year high of $23.06. The company has a market cap of $497.26 million, a PE ratio of 23.15 and a beta of 0.90.

Movado Group (NYSE:MOV) last issued its quarterly earnings results on Tuesday, November 25th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.12). Movado Group had a return on equity of 5.86% and a net margin of 3.33%.The company had revenue of $186.13 million during the quarter, compared to the consensus estimate of $185.89 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. Equities research analysts expect that Movado Group will post 1.05 EPS for the current year.

Insider Transactions at Movado Group

In related news, SVP Michelle Kennedy sold 1,290 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $20.89, for a total value of $26,948.10. Following the transaction, the senior vice president owned 27,857 shares of the company’s stock, valued at $581,932.73. This represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 30.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Movado Group

Several hedge funds have recently made changes to their positions in the company. Brandes Investment Partners LP purchased a new position in shares of Movado Group during the second quarter valued at $5,540,000. Laurel Wealth Advisors LLC lifted its stake in Movado Group by 1,425.0% in the second quarter. Laurel Wealth Advisors LLC now owns 31,095 shares of the company’s stock worth $474,000 after acquiring an additional 29,056 shares during the period. Inspire Investing LLC purchased a new stake in Movado Group in the third quarter worth about $458,000. Russell Investments Group Ltd. grew its holdings in Movado Group by 426.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 176,015 shares of the company’s stock worth $2,684,000 after acquiring an additional 142,601 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in Movado Group by 86.9% during the 2nd quarter. Fisher Asset Management LLC now owns 59,013 shares of the company’s stock valued at $900,000 after purchasing an additional 27,431 shares during the period. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Movado Group Company Profile

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.