Zacks Investment Research Upgrades Oxford Industries Inc. (OXM) to “Hold”
Oxford Industries Inc. (NYSE:OXM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Oxford Industries Inc.’s primary business is the design, manufacture, marketing and sale of consumer apparel products in the popular to better price ranges. Substantially all of their distribution facilities, offices and customers are located in the United States. Oxford is organized into four operating groups that reflect four major product lines: Oxford Shirt Group, Lanier Clothes, Oxford Slacks and the Oxford Womenswear Group. “
A number of other brokerages have also recently weighed in on OXM. DA Davidson reissued a “buy” rating and set a $81.00 price objective on shares of Oxford Industries in a report on Thursday, September 22nd. assumed coverage on Oxford Industries in a report on Wednesday, September 28th. They set an “outperform” rating and a $78.00 price objective on the stock. Telsey Advisory Group raised their price objective on Oxford Industries from $73.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, September 1st. Citigroup Inc. assumed coverage on Oxford Industries in a report on Tuesday, November 15th. They set a “buy” rating and a $84.00 price objective on the stock. Finally, B. Riley reissued a “buy” rating and set a $71.00 price objective on shares of Oxford Industries in a report on Tuesday, August 30th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $81.50.
Shares of Oxford Industries (NYSE:OXM) opened at 75.69 on Wednesday. Oxford Industries has a one year low of $52.54 and a one year high of $77.99. The company has a market capitalization of $1.27 billion, a PE ratio of 21.12 and a beta of 0.47. The company has a 50-day moving average price of $66.14 and a 200 day moving average price of $62.94.
Oxford Industries (NYSE:OXM) last issued its quarterly earnings results on Wednesday, August 31st. The company reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.10. The firm earned $283 million during the quarter. Oxford Industries had a return on equity of 18.08% and a net margin of 5.95%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.32 EPS. Equities analysts anticipate that Oxford Industries will post $3.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, October 14th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, October 12th. This represents a $1.08 annualized dividend and a dividend yield of 1.43%. Oxford Industries’s dividend payout ratio (DPR) is presently 30.25%.
In other news, insider James Wesley Howard, Jr. sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $69.81, for a total transaction of $174,525.00. Following the transaction, the insider now directly owns 10,680 shares of the company’s stock, valued at $745,570.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.18% of the company’s stock.
Several institutional investors have recently bought and sold shares of OXM. PineBridge Investments L.P. raised its stake in Oxford Industries by 4.9% in the second quarter. PineBridge Investments L.P. now owns 1,870 shares of the company’s stock valued at $106,000 after buying an additional 88 shares in the last quarter. Teacher Retirement System of Texas raised its stake in Oxford Industries by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 2,091 shares of the company’s stock valued at $118,000 after buying an additional 253 shares in the last quarter. Mason Street Advisors LLC purchased a new stake in Oxford Industries during the second quarter valued at $163,000. Stanley Laman Group Ltd. purchased a new stake in Oxford Industries during the third quarter valued at $193,000. Finally, Clinton Group Inc. purchased a new stake in Oxford Industries during the second quarter valued at $203,000. 84.53% of the stock is currently owned by hedge funds and other institutional investors.
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About Oxford Industries
Oxford Industries, Inc is an apparel company. The Company designs, sources, markets and distributes products bearing the trademarks of its owned Tommy Bahama and Lilly Pulitzer lifestyle brands, as well as certain licensed and private label apparel products. The Company’s business is primarily operated through its Tommy Bahama, Lilly Pulitzer and Lanier Apparel operating groups.
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