Truist Financial Cuts Oxford Industries (NYSE:OXM) Price Target to $47.00

Oxford Industries (NYSE:OXM) had its target price trimmed by Truist Financial from $56.00 to $47.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a hold rating on the textile maker’s stock.

A number of other brokerages also recently issued reports on OXM. Telsey Advisory Group reissued a “market perform” rating and issued a $52.00 price objective on shares of Oxford Industries in a research note on Thursday. UBS Group raised their target price on Oxford Industries from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, June 5th. KeyCorp reaffirmed a “sector weight” rating on shares of Oxford Industries in a research report on Friday, March 28th. Finally, Citigroup reduced their price target on shares of Oxford Industries from $47.00 to $44.00 and set a “sell” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.80.

Oxford Industries Stock Performance

Shares of Oxford Industries stock opened at $39.45 on Thursday. The company has a quick ratio of 0.71, a current ratio of 1.42 and a debt-to-equity ratio of 0.09. Oxford Industries has a twelve month low of $39.28 and a twelve month high of $108.51. The stock has a market cap of $586.38 million, a price-to-earnings ratio of 44.32 and a beta of 1.45. The company’s fifty day moving average is $51.72 and its 200 day moving average is $66.00.

Oxford Industries (NYSE:OXM) last announced its earnings results on Wednesday, June 11th. The textile maker reported $1.82 EPS for the quarter, hitting the consensus estimate of $1.82. The firm had revenue of $392.86 million for the quarter, compared to the consensus estimate of $383.54 million. Oxford Industries had a return on equity of 19.09% and a net margin of 0.98%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.66 EPS. Sell-side analysts forecast that Oxford Industries will post 6.62 EPS for the current year.

Oxford Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.76 annualized dividend and a yield of 7.00%. Oxford Industries’s payout ratio is 47.02%.

Insider Transactions at Oxford Industries

In other Oxford Industries news, Director Milford W. Mcguirt purchased 1,000 shares of the stock in a transaction on Wednesday, April 2nd. The shares were purchased at an average price of $58.70 per share, with a total value of $58,700.00. Following the acquisition, the director now directly owns 7,180 shares in the company, valued at approximately $421,466. The trade was a 16.18% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Entropy Technologies LP purchased a new stake in shares of Oxford Industries during the fourth quarter valued at approximately $376,000. Rhumbline Advisers boosted its holdings in shares of Oxford Industries by 6.8% during the 4th quarter. Rhumbline Advisers now owns 48,590 shares of the textile maker’s stock valued at $3,828,000 after buying an additional 3,114 shares in the last quarter. Principal Financial Group Inc. lifted its position in Oxford Industries by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 71,850 shares of the textile maker’s stock valued at $5,660,000 after acquiring an additional 2,137 shares during the period. Sanctuary Advisors LLC increased its stake in shares of Oxford Industries by 3.7% during the fourth quarter. Sanctuary Advisors LLC now owns 3,799 shares of the textile maker’s stock valued at $328,000 after purchasing an additional 137 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Oxford Industries during the fourth quarter valued at approximately $63,000. Institutional investors own 91.16% of the company’s stock.

Oxford Industries Company Profile

Oxford Industries, Inc, an apparel company, designs, sources, markets, and distributes products of lifestyle and other brands worldwide. The company offers men's and women's sportswear and related products under the Tommy Bahama brand; and women's and girl's dresses and sportswear, scarves, bags, jewelry, and belts, as well as children's apparel, swim, footwear, and licensed products under the Lilly Pulitzer brand.