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.
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.
Receive News & Ratings for Movado Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Movado Group and related companies with MarketBeat.com's FREE daily email newsletter.