Oxford Industries (NYSE:OXM) Price Target Raised to $34.00

Key Points

• Citigroup raised its price target on Oxford Industries to $34 (from $33) and kept a "neutral" rating, a target that implies roughly a 3.5% downside and aligns with the average analyst price target of $34.25 amid a consensus rating of "Reduce" (six Holds, one Sell).
• Oxford missed EPS for the quarter at ($0.09) versus a $0.05 estimate, though revenue of $374.5M slightly beat forecasts; revenue declined 4.1% year-over-year, the company has a negative net margin, and a market cap of about $524M.

Oxford Industries (NYSE:OXM - Get Free Report) had its price objective lifted by research analysts at Citigroup from $33.00 to $34.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the textile maker's stock. Citigroup's price objective points to a potential downside of 3.50% from the company's current price.

A number of other research analysts have also commented on OXM. KeyCorp reiterated a "sector weight" rating on shares of Oxford Industries in a report on Thursday, December 11th. UBS Group cut their price objective on shares of Oxford Industries from $36.00 to $35.00 and set a "neutral" rating for the company in a research report on Thursday, March 19th. Weiss Ratings restated a "sell (d)" rating on shares of Oxford Industries in a research note on Monday, December 29th. Telsey Advisory Group lowered their price target on shares of Oxford Industries from $40.00 to $36.00 and set a "market perform" rating for the company in a research report on Friday. Finally, Truist Financial reduced their price objective on shares of Oxford Industries from $38.00 to $32.00 and set a "hold" rating on the stock in a research note on Friday. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $34.25.

Oxford Industries Stock Performance

OXM stock traded up $0.57 during midday trading on Monday, hitting $35.23. 225,321 shares of the company traded hands, compared to its average volume of 342,080. The business has a 50 day simple moving average of $37.68 and a 200-day simple moving average of $38.13. The company has a quick ratio of 0.48, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. Oxford Industries has a twelve month low of $30.57 and a twelve month high of $61.02. The stock has a market capitalization of $524.28 million, a price-to-earnings ratio of -18.15 and a beta of 1.05.

Oxford Industries (NYSE:OXM - Get Free Report) last announced its earnings results on Thursday, March 26th. The textile maker reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.14). The firm had revenue of $374.49 million during the quarter, compared to the consensus estimate of $372.30 million. Oxford Industries had a positive return on equity of 5.68% and a negative net margin of 1.89%.The business's revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.37 EPS. As a group, equities research analysts predict that Oxford Industries will post 6.62 earnings per share for the current year.

Institutional Investors Weigh In On Oxford Industries

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in shares of Oxford Industries by 33.9% during the 1st quarter. AQR Capital Management LLC now owns 6,495 shares of the textile maker's stock valued at $381,000 after acquiring an additional 1,643 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Oxford Industries by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,817 shares of the textile maker's stock valued at $517,000 after acquiring an additional 387 shares in the last quarter. Millennium Management LLC lifted its position in shares of Oxford Industries by 311.9% during the 1st quarter. Millennium Management LLC now owns 293,384 shares of the textile maker's stock valued at $17,213,000 after acquiring an additional 222,150 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Oxford Industries by 22.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 29,906 shares of the textile maker's stock worth $1,755,000 after acquiring an additional 5,577 shares in the last quarter. Finally, Creative Planning grew its holdings in Oxford Industries by 114.8% in the second quarter. Creative Planning now owns 13,566 shares of the textile maker's stock worth $546,000 after purchasing an additional 7,251 shares during the period. Institutional investors and hedge funds own 91.16% of the company's stock.

About Oxford Industries

Oxford Industries, Inc, incorporated in 1942 and headquartered in Atlanta, Georgia, is a leading designer, marketer and distributor of high-quality men's and women's lifestyle apparel and accessories. The company's product portfolio features a mix of owned brands and licensed partnerships that span casual, resort and performance categories. Key owned brands include Tommy Bahama, renowned for its island-inspired menswear and women's sportswear, and Southern Tide, which offers coastal-focused clothing and footwear.

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