Wall Street Zen Upgrades Movado Group (NYSE:MOV) to Strong-Buy

Movado Group (NYSE:MOV) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

MOV has been the topic of a number of other research reports. Northland Securities initiated coverage on Movado Group in a research report on Wednesday, January 7th. They set an “outperform” rating and a $30.00 target price on the stock. Zacks Research raised shares of Movado Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Weiss Ratings restated a “hold (c)” rating on shares of Movado Group in a report on Monday, December 29th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $31.50 target price on shares of Movado Group in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Movado Group has a consensus rating of “Moderate Buy” and an average target price of $30.75.

Movado Group Trading Up 1.7%

Shares of NYSE:MOV opened at $24.48 on Friday. Movado Group has a 12-month low of $12.85 and a 12-month high of $25.22. The business has a 50 day moving average of $21.94 and a two-hundred day moving average of $19.44. The company has a market capitalization of $541.99 million, a PE ratio of 25.24 and a beta of 0.95.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Tuesday, November 25th. The company reported $0.45 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 firm had revenue of $186.13 million for the quarter, compared to analyst estimates of $185.89 million. During the same period in the previous year, the business earned $0.22 EPS. Equities research analysts predict that Movado Group will post 1.05 earnings per share for the current fiscal year.

Insider Transactions at Movado Group

In related news, SVP Michelle Kennedy sold 1,290 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $20.89, for a total transaction of $26,948.10. Following the completion of the transaction, the senior vice president directly owned 27,857 shares in the company, valued at $581,932.73. This trade represents a 4.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 30.80% of the company’s stock.

Institutional Trading of Movado Group

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

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.