Oxford Industries (NYSE:OXM) Shares Gap Down After Analyst Downgrade

Oxford Industries, Inc. (NYSE:OXM) gapped down prior to trading on Thursday after Truist Financial lowered their price target on the stock from $56.00 to $47.00. The stock had previously closed at $50.03, but opened at $45.77. Truist Financial currently has a hold rating on the stock. Oxford Industries shares last traded at $45.56, with a volume of 214,904 shares traded.

OXM has been the topic of a number of other reports. KeyCorp restated a “sector weight” rating on shares of Oxford Industries in a report on Friday, March 28th. Telsey Advisory Group reiterated a “market perform” rating and set a $52.00 price target on shares of Oxford Industries in a report on Thursday. UBS Group lifted their price target on Oxford Industries from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, June 5th. Finally, Citigroup lowered their price target on Oxford Industries from $47.00 to $44.00 and set a “sell” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.80.

Insider Buying and Selling at Oxford Industries

In other news, Director Milford W. Mcguirt bought 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, for a total transaction of $58,700.00. Following the completion of the purchase, the director now directly owns 7,180 shares of the company’s stock, valued at $421,466. This trade represents a 16.18% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.00% of the company’s stock.

Institutional Trading of Oxford Industries

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC lifted its position in shares of Oxford Industries by 981.6% in the fourth quarter. Quadrant Capital Group LLC now owns 411 shares of the textile maker’s stock worth $32,000 after buying an additional 373 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Oxford Industries during the 4th quarter worth about $63,000. Vestcor Inc acquired a new position in shares of Oxford Industries during the 4th quarter worth about $100,000. State of Wyoming lifted its position in shares of Oxford Industries by 159.4% during the 1st quarter. State of Wyoming now owns 2,511 shares of the textile maker’s stock worth $147,000 after purchasing an additional 1,543 shares during the last quarter. Finally, Truvestments Capital LLC lifted its position in shares of Oxford Industries by 15.6% during the 4th quarter. Truvestments Capital LLC now owns 2,411 shares of the textile maker’s stock worth $190,000 after purchasing an additional 326 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Oxford Industries Stock Down 13.8%

The company has a current ratio of 1.42, a quick ratio of 0.71 and a debt-to-equity ratio of 0.09. The firm has a market cap of $641.13 million, a price-to-earnings ratio of 48.46 and a beta of 1.45. The firm has a 50-day moving average of $51.85 and a two-hundred day moving average of $66.40.

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

Oxford Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a dividend of $0.69 per share. The ex-dividend date is Friday, July 18th. This represents a $2.76 annualized dividend and a yield of 6.40%. Oxford Industries’s dividend payout ratio is 47.02%.

About Oxford Industries

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.