Movado Group (NYSE:MOV) Rating Increased to Buy at StockNews.com

Movado Group (NYSE:MOV - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Tuesday.

Separately, BWS Financial reaffirmed a "buy" rating and issued a $31.50 target price on shares of Movado Group in a research note on Monday, April 21st.

Movado Group Stock Performance

NYSE MOV traded down $0.13 on Tuesday, reaching $13.93. The company had a trading volume of 167,136 shares, compared to its average volume of 200,234. The firm has a market capitalization of $308.45 million, a price-to-earnings ratio of 13.39 and a beta of 0.92. Movado Group has a 1-year low of $12.85 and a 1-year high of $27.80. The company's fifty day moving average is $16.63 and its 200-day moving average is $18.56.

Movado Group (NYSE:MOV - Get Free Report) last announced its earnings results on Wednesday, April 16th. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.12. The firm had revenue of $181.48 million during the quarter, compared to analyst estimates of $180.62 million. Movado Group had a net margin of 3.62% and a return on equity of 5.38%. On average, research analysts forecast that Movado Group will post 1.05 earnings per share for the current year.

Institutional Investors Weigh In On Movado Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS bought a new stake in Movado Group during the 4th quarter worth about $47,000. GAMMA Investing LLC raised its holdings in shares of Movado Group by 3,303.5% in the 1st quarter. GAMMA Investing LLC now owns 2,893 shares of the company's stock valued at $48,000 after purchasing an additional 2,808 shares during the period. Harbor Capital Advisors Inc. raised its holdings in shares of Movado Group by 1,597.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 3,412 shares of the company's stock valued at $57,000 after purchasing an additional 3,211 shares during the period. Aigen Investment Management LP bought a new stake in shares of Movado Group in the 4th quarter valued at about $201,000. Finally, Two Sigma Advisers LP raised its holdings in shares of Movado Group by 24.0% in the 4th quarter. Two Sigma Advisers LP now owns 12,400 shares of the company's stock valued at $244,000 after purchasing an additional 2,400 shares during the period. 72.08% of the stock is owned by institutional investors.

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.