Movado Group (NYSE:MOV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $36.00 target price on the stock. Zacks Investment Research‘s price target points to a potential upside of 12.68% from the company’s current price.
According to Zacks, “Movado Group, Inc. is one of the world’s premier watchmakers. Movado Group designs, manufactures and distributes watches from ten of the most recognized and respected names in time: Movado, Concord, EBEL and ESQ Movado along with their Coach, HUGO BOSS, Juicy Couture, Lacoste, Tommy Hilfiger and Scuderia Ferrari licensed watch brands. From their Swiss luxury timepieces to our accessible fashion watches, each of their brands is recognized for its inherent quality and distinctive image within its price category. Collectively, their timepieces are sold throughout North and South America, Europe, Asia and the Far East. Between their manufacturing facilities in Switzerland, corporate headquarters in Paramus, New Jersey, USA and Bienne, Switzerland and their sales and distribution offices around the world, Movado Group. “
Separately, ValuEngine raised Movado Group from a “hold” rating to a “buy” rating in a research report on Tuesday, December 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $30.50.
Movado Group (NYSE:MOV) opened at $31.95 on Wednesday. The stock has a market capitalization of $726.02, a PE ratio of 31.02 and a beta of -0.03. 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 has a 12-month low of $20.50 and a 12-month high of $33.95.
In other news, Director Richard Cote sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $32.02, for a total value of $51,232.00. Following the transaction, the director now owns 397,296 shares of the company’s stock, valued at $12,721,417.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard D. Isserman sold 2,650 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $32.07, for a total value of $84,985.50. Following the completion of the transaction, the director now directly owns 11,184 shares in the company, valued at approximately $358,670.88. The disclosure for this sale can be found here. Insiders sold 12,550 shares of company stock worth $401,757 in the last ninety days. Corporate insiders own 33.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of MOV. Hillsdale Investment Management Inc. bought a new position in shares of Movado Group in the third quarter worth about $101,000. Aperio Group LLC bought a new position in shares of Movado Group in the fourth quarter worth about $204,000. Delta Capital Management LLC bought a new position in shares of Movado Group in the fourth quarter worth about $206,000. Crossmark Global Holdings Inc. bought a new position in shares of Movado Group in the fourth quarter worth about $206,000. Finally, Van Hulzen Asset Management LLC bought a new position in shares of Movado Group in the third quarter worth about $210,000. 66.06% of the stock is currently owned by hedge funds and other institutional investors.
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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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