Movado Group (NYSE:MOV) Upgraded by Wall Street Zen to Hold Rating

Movado Group (NYSE:MOV - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Friday.

Separately, BWS Financial reissued a "buy" rating and set a $31.50 target price on shares of Movado Group in a report on Monday, June 2nd.

Movado Group Stock Up 0.5%

Shares of Movado Group stock traded up $0.07 on Friday, reaching $15.52. The company's stock had a trading volume of 245,544 shares, compared to its average volume of 212,935. The company has a market capitalization of $345.16 million, a P/E ratio of 19.40 and a beta of 1.21. The stock has a 50-day moving average price of $15.57 and a 200-day moving average price of $17.40. Movado Group has a 52-week low of $12.85 and a 52-week high of $26.59.

Movado Group (NYSE:MOV - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.31). Movado Group had a return on equity of 5.10% and a net margin of 2.78%. The company had revenue of $131.77 million for the quarter, compared to analyst estimates of $142.11 million. Sell-side analysts forecast that Movado Group will post 1.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Movado Group

Large investors have recently modified their holdings of the business. Royce & Associates LP lifted its stake in Movado Group by 10.3% in the 1st quarter. Royce & Associates LP now owns 1,628,031 shares of the company's stock worth $27,221,000 after purchasing an additional 152,677 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Movado Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 959,424 shares of the company's stock valued at $18,881,000 after purchasing an additional 9,999 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Movado Group by 212.8% in the first quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company's stock valued at $11,226,000 after purchasing an additional 456,727 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Movado Group by 19.3% in the fourth quarter. Ameriprise Financial Inc. now owns 549,455 shares of the company's stock valued at $10,813,000 after purchasing an additional 88,778 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Movado Group by 202.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company's stock worth $9,414,000 after buying an additional 320,103 shares in the last quarter. Hedge funds and other institutional investors own 72.08% of the company's stock.

About Movado Group

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.

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