Oxford Industries (NYSE:OXM) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Oxford Industries (NYSE:OXM) from a hold rating to a strong sell rating in a report released on Tuesday morning,Zacks.com reports.

Other research analysts have also issued reports about the company. Telsey Advisory Group cut their target price on Oxford Industries from $40.00 to $36.00 and set a “market perform” rating on the stock in a research report on Friday, March 27th. UBS Group lowered their price target on Oxford Industries from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, March 19th. Citigroup upped their price target on Oxford Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, March 30th. Wall Street Zen lowered Oxford Industries from a “hold” rating to a “sell” rating in a research note on Sunday, April 5th. Finally, Truist Financial decreased their target price on Oxford Industries from $38.00 to $32.00 and set a “hold” rating for the company in a report on Friday, March 27th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Oxford Industries currently has a consensus rating of “Reduce” and a consensus price target of $34.25.

Oxford Industries Price Performance

OXM opened at $44.91 on Tuesday. Oxford Industries has a 1 year low of $30.57 and a 1 year high of $60.31. The company’s 50 day simple moving average is $38.55 and its 200 day simple moving average is $37.83. The stock has a market capitalization of $668.72 million, a PE ratio of -23.15 and a beta of 1.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.48 and a current ratio of 1.10.

Oxford Industries (NYSE:OXM) last issued its quarterly earnings results on Thursday, March 26th. The textile maker reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.14). The company had revenue of $374.49 million for the quarter, compared to analyst estimates of $372.30 million. Oxford Industries had a positive return on equity of 5.68% and a negative net margin of 1.89%.The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the company posted $1.37 EPS. As a group, sell-side analysts expect that Oxford Industries will post 6.62 EPS for the current year.

Oxford Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 17th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 6.2%. This is a boost from Oxford Industries’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, April 17th. Oxford Industries’s dividend payout ratio is -142.27%.

Institutional Investors Weigh In On Oxford Industries

Several institutional investors and hedge funds have recently modified their holdings of OXM. AQR Capital Management LLC grew its stake in shares of Oxford Industries by 33.9% in the first quarter. AQR Capital Management LLC now owns 6,495 shares of the textile maker’s stock valued at $381,000 after buying an additional 1,643 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Oxford Industries by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,817 shares of the textile maker’s stock worth $517,000 after acquiring an additional 387 shares in the last quarter. Millennium Management LLC lifted its position in Oxford Industries by 311.9% during the 1st quarter. Millennium Management LLC now owns 293,384 shares of the textile maker’s stock worth $17,213,000 after acquiring an additional 222,150 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Oxford Industries by 22.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 29,906 shares of the textile maker’s stock worth $1,755,000 after acquiring an additional 5,577 shares during the period. Finally, Norges Bank acquired a new stake in Oxford Industries in the second quarter valued at approximately $369,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.

About Oxford Industries

Oxford Industries, Inc, incorporated in 1942 and headquartered in Atlanta, Georgia, is a leading designer, marketer and distributor of high-quality men’s and women’s lifestyle apparel and accessories. The company’s product portfolio features a mix of owned brands and licensed partnerships that span casual, resort and performance categories. Key owned brands include Tommy Bahama, renowned for its island-inspired menswear and women’s sportswear, and Southern Tide, which offers coastal-focused clothing and footwear.