Oxford Industries, Inc. (OXM) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Oxford Industries, Inc. (NYSE:OXM) from a hold rating to a buy rating in a research report released on Friday morning. The brokerage currently has $68.00 price objective on the textile maker’s stock.
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. “
Several other analysts also recently weighed in on OXM. B. Riley reissued a buy rating and issued a $66.00 target price on shares of Oxford Industries in a report on Saturday, June 10th. FBR & Co reissued a buy rating and issued a $75.00 target price on shares of Oxford Industries in a report on Tuesday, September 12th. BidaskClub downgraded Oxford Industries from a buy rating to a hold rating in a report on Saturday, August 5th. DA Davidson downgraded Oxford Industries from a buy rating to a neutral rating and set a $68.00 target price for the company. in a report on Friday, September 8th. Finally, Telsey Advisory Group boosted their target price on Oxford Industries from $53.00 to $58.00 and gave the company a market perform rating in a report on Wednesday, June 7th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $68.22.
Oxford Industries (NYSE:OXM) opened at 60.32 on Friday. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 20.86 and a beta of 0.36. The stock has a 50 day moving average price of $60.79 and a 200-day moving average price of $58.50. Oxford Industries has a one year low of $49.50 and a one year high of $76.19.
Oxford Industries (NYSE:OXM) last posted its earnings results on Thursday, August 31st. The textile maker reported $1.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.01. Oxford Industries had a return on equity of 13.56% and a net margin of 4.64%. The business had revenue of $284.70 million during the quarter, compared to the consensus estimate of $291.34 million. During the same period in the previous year, the business earned $1.48 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts predict that Oxford Industries will post $3.59 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, October 12th. Oxford Industries’s dividend payout ratio (DPR) is presently 37.37%.
A number of hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC increased its position in Oxford Industries by 4.2% in the 2nd quarter. Lord Abbett & CO. LLC now owns 202,087 shares of the textile maker’s stock valued at $12,628,000 after acquiring an additional 8,200 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Oxford Industries in the 2nd quarter valued at about $1,768,000. Piedmont Investment Advisors LLC acquired a new position in Oxford Industries in the 2nd quarter valued at about $203,000. Westwood Holdings Group Inc. increased its position in Oxford Industries by 34.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 318,023 shares of the textile maker’s stock valued at $19,873,000 after acquiring an additional 80,913 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Oxford Industries by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,737 shares of the textile maker’s stock valued at $795,000 after acquiring an additional 470 shares during the period. Hedge funds and other institutional investors own 86.55% of the company’s stock.
Oxford Industries Company Profile
Oxford Industries, Inc is an apparel company. The Company designs, sources, markets and distributes products bearing the trademarks of its owned Tommy Bahama, Lilly Pulitzer and Southern Tide lifestyle brands, other owned brands and licensed brands, as well as private label apparel products. It distributes its lifestyle branded products through its direct to consumer channels, consisting of its Tommy Bahama and Lilly Pulitzer full-price retail stores and its e-commerce sites for Tommy Bahama, Lilly Pulitzer and Southern Tide, and through its wholesale distribution channels.
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