Movado Group (NYSE:MOV) Given Buy Rating at BWS Financial

Movado Group (NYSE:MOV - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at BWS Financial in a research note issued on Monday,Benzinga reports. They presently have a $31.50 price target on the stock. BWS Financial's price objective suggests a potential upside of 101.86% from the stock's current price.

Separately, Wall Street Zen cut shares of Movado Group from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th.

Movado Group Stock Performance

Shares of MOV stock traded down $0.40 during midday trading on Monday, hitting $15.61. 96,539 shares of the company were exchanged, compared to its average volume of 210,145. Movado Group has a 52 week low of $12.85 and a 52 week high of $26.59. The firm's 50 day moving average price is $15.19 and its two-hundred day moving average price is $17.95. The firm has a market capitalization of $347.01 million, a P/E ratio of 15.00 and a beta of 1.21.

Movado Group (NYSE:MOV - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.31). Movado Group had a return on equity of 5.38% and a net margin of 3.62%. The business had revenue of $131.77 million during the quarter, compared to analyst estimates of $142.11 million. Analysts expect that Movado Group will post 1.05 EPS for the current year.

Hedge Funds Weigh In On Movado Group

A number of institutional investors have recently added to or reduced their stakes in MOV. Empowered Funds LLC increased its position in Movado Group by 5.1% during the 4th quarter. Empowered Funds LLC now owns 102,680 shares of the company's stock worth $2,021,000 after purchasing an additional 4,958 shares in the last quarter. Bank of New York Mellon Corp increased its position in Movado Group by 11.5% during the 4th quarter. Bank of New York Mellon Corp now owns 219,502 shares of the company's stock worth $4,320,000 after purchasing an additional 22,578 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Movado Group during the 4th quarter worth approximately $804,000. VELA Investment Management LLC increased its position in Movado Group by 121.1% during the 4th quarter. VELA Investment Management LLC now owns 113,574 shares of the company's stock worth $2,235,000 after purchasing an additional 62,214 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Movado Group by 131.7% during the 4th quarter. Victory Capital Management Inc. now owns 37,835 shares of the company's stock worth $745,000 after purchasing an additional 21,505 shares in the last quarter. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Movado Group Company Profile

Movado Group, Inc designs, sources, markets, and distributes watches in the United States and internationally. The company operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands comprising Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.