Brokerages Set Movado Group, Inc (MOV) Target Price at $25.00

Movado Group, Inc (NYSE:MOV) has earned an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $25.00.

Several research firms have issued reports on MOV. ValuEngine raised Movado Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research cut Movado Group from a “buy” rating to a “hold” rating in a report on Thursday, January 25th.

In other Movado Group news, Director Richard D. Isserman sold 2,650 shares of Movado Group stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $32.07, for a total transaction of $84,985.50. Following the transaction, the director now directly owns 11,184 shares in the company, valued at approximately $358,670.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sallie A. Demarsilis sold 5,401 shares of Movado Group stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $28.44, for a total transaction of $153,604.44. Following the transaction, the chief financial officer now owns 31,978 shares in the company, valued at $909,454.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,751 shares of company stock worth $485,837. Corporate insiders own 33.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of MOV. PNC Financial Services Group Inc. grew its position in Movado Group by 1.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,855 shares of the company’s stock worth $122,000 after purchasing an additional 78 shares in the last quarter. Northern Trust Corp grew its position in Movado Group by 31.5% during the 2nd quarter. Northern Trust Corp now owns 400,216 shares of the company’s stock worth $10,105,000 after purchasing an additional 95,967 shares in the last quarter. FMR LLC grew its position in Movado Group by 62.5% during the 2nd quarter. FMR LLC now owns 588,709 shares of the company’s stock worth $14,865,000 after purchasing an additional 226,510 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in Movado Group by 10.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 48,548 shares of the company’s stock worth $1,226,000 after purchasing an additional 4,760 shares in the last quarter. Finally, Voya Investment Management LLC grew its position in Movado Group by 4.3% during the 2nd quarter. Voya Investment Management LLC now owns 35,217 shares of the company’s stock worth $889,000 after purchasing an additional 1,453 shares in the last quarter. Hedge funds and other institutional investors own 63.50% of the company’s stock.

Movado Group (NYSE:MOV) traded down $0.25 during midday trading on Wednesday, hitting $32.20. The company’s stock had a trading volume of 70,900 shares, compared to its average volume of 89,497. The company has a market capitalization of $738.64, a PE ratio of 31.26 and a beta of -0.02. Movado Group has a 52 week low of $20.50 and a 52 week high of $33.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.80 and a quick ratio of 3.12.

Movado Group (NYSE:MOV) last posted its quarterly earnings results on Tuesday, November 21st. The company reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.18. The company had revenue of $190.69 million for the quarter, compared to analysts’ expectations of $176.33 million. Movado Group had a return on equity of 8.34% and a net margin of 4.35%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 earnings per share. sell-side analysts predict that Movado Group will post 1.74 earnings per share for the current year.

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About Movado Group

Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains and department stores, as well as independent jewelers.

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