BWS Financial Reiterates "Buy" Rating for Movado Group (NYSE:MOV)

Movado Group (NYSE:MOV - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at BWS Financial in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $31.50 price objective on the stock. BWS Financial's target price suggests a potential upside of 93.82% from the stock's current price.

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

Movado Group Price Performance

Movado Group stock traded down $0.03 during midday trading on Monday, reaching $16.25. The stock had a trading volume of 251,230 shares, compared to its average volume of 210,434. The firm's fifty day simple moving average is $15.25 and its two-hundred day simple moving average is $17.97. Movado Group has a twelve month low of $12.85 and a twelve month high of $26.75. The firm has a market cap of $361.40 million, a price-to-earnings ratio of 15.63 and a beta of 1.21.

Movado Group (NYSE:MOV - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.31). The company had revenue of $131.77 million for the quarter, compared to analyst estimates of $142.11 million. Movado Group had a net margin of 3.62% and a return on equity of 5.38%. As a group, sell-side analysts predict that Movado Group will post 1.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC increased its holdings in shares of Movado Group by 11.9% during the 1st quarter. Acadian Asset Management LLC now owns 79,208 shares of the company's stock worth $1,322,000 after purchasing an additional 8,436 shares during the period. Jane Street Group LLC increased its holdings in shares of Movado Group by 11.4% during the 1st quarter. Jane Street Group LLC now owns 104,188 shares of the company's stock worth $1,742,000 after purchasing an additional 10,670 shares during the period. Empowered Funds LLC increased its holdings in shares of Movado Group by 5.5% during the 1st quarter. Empowered Funds LLC now owns 108,377 shares of the company's stock worth $1,812,000 after purchasing an additional 5,697 shares during the period. Coppell Advisory Solutions LLC increased its holdings in shares of Movado Group by 14,191.7% during the 1st quarter. Coppell Advisory Solutions LLC now owns 1,715 shares of the company's stock worth $29,000 after purchasing an additional 1,703 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Movado Group by 212.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company's stock worth $11,226,000 after purchasing an additional 456,727 shares during the period. Institutional investors own 72.08% of the company's stock.

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.