Movado Group's (MOV) "Hold (C-)" Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings reiterated a "Hold (C-)" rating for Movado Group (NYSE: MOV) following a research report issued to clients and investors.
• The company's stock increased by 1.3% and currently has a market cap of $421.77 million, with an average target price of $31.50.
• Movado Group reported $0.23 earnings per share for the last quarter, missing expectations by $0.08 but achieving a revenue of $161.83 million.

Movado Group (NYSE:MOV - Get Free Report)'s stock had its "hold (c-)" rating reiterated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other brokerages have also recently commented on MOV. Wall Street Zen raised shares of Movado Group from a "sell" rating to a "hold" rating in a report on Friday, June 27th. BWS Financial reaffirmed a "buy" rating and set a $31.50 target price on shares of Movado Group in a report on Friday, August 29th. Finally, Zacks Research cut shares of Movado Group from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $31.50.

Movado Group Stock Up 1.3%

Shares of Movado Group stock opened at $19.05 on Wednesday. The company has a market cap of $421.77 million, a price-to-earnings ratio of 24.74 and a beta of 1.22. The company's 50 day moving average is $17.95 and its 200 day moving average is $16.46. Movado Group has a twelve month low of $12.85 and a twelve month high of $22.20.

Movado Group (NYSE:MOV - Get Free Report) last issued its quarterly earnings data on Thursday, August 28th. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.08). Movado Group had a net margin of 2.66% and a return on equity of 5.45%. The company had revenue of $161.83 million for the quarter, compared to the consensus estimate of $156.84 million. Sell-side analysts expect that Movado Group will post 1.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Movado Group

Several institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. purchased a new position in Movado Group during the third quarter valued at $315,000. Squarepoint Ops LLC grew its stake in Movado Group by 41.1% during the second quarter. Squarepoint Ops LLC now owns 59,496 shares of the company's stock valued at $907,000 after acquiring an additional 17,337 shares in the last quarter. State of Wyoming purchased a new position in shares of Movado Group in the 2nd quarter worth $40,000. Tidal Investments LLC grew its stake in shares of Movado Group by 33.0% in the 2nd quarter. Tidal Investments LLC now owns 28,405 shares of the company's stock worth $433,000 after buying an additional 7,049 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Movado Group in the 2nd quarter worth $707,000. 72.08% of the stock is owned by hedge funds and other institutional investors.

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.

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