Movado Group (NYSE:MOV) Upgraded at StockNews.com

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

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

Movado Group Stock Performance

Shares of MOV stock traded down $0.13 on Tuesday, hitting $13.93. The company's stock had a trading volume of 167,136 shares, compared to its average volume of 199,935. Movado Group has a fifty-two week low of $12.85 and a fifty-two week high of $27.80. The stock's 50 day moving average is $16.75 and its 200-day moving average is $18.59. The company has a market capitalization of $308.45 million, a PE ratio of 13.39 and a beta of 0.92.

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

Institutional Trading of Movado Group

Institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its position in Movado Group by 3.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,395 shares of the company's stock valued at $500,000 after buying an additional 848 shares in the last quarter. Barclays PLC raised its holdings in Movado Group by 5.3% during the 4th quarter. Barclays PLC now owns 28,080 shares of the company's stock worth $552,000 after purchasing an additional 1,416 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in Movado Group by 3.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 68,091 shares of the company's stock worth $1,340,000 after buying an additional 1,994 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Movado Group by 18.4% in the 4th quarter. Wells Fargo & Company MN now owns 14,372 shares of the company's stock worth $283,000 after acquiring an additional 2,234 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Movado Group in the fourth quarter valued at approximately $47,000. 72.08% of the stock is currently owned by institutional investors.

Movado Group Company Profile

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.