Movado Group (NYSE:MOV) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Other analysts have also issued reports about the company. Zacks Investment Research raised Movado Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. KeyCorp reissued a “hold” rating on shares of Movado Group in a research note on Wednesday, October 11th. Finally, BidaskClub lowered Movado Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Movado Group presently has a consensus rating of “Buy” and an average target price of $30.33.

Shares of Movado Group (NYSE MOV) traded up $0.85 during mid-day trading on Tuesday, hitting $30.60. The stock had a trading volume of 234,388 shares, compared to its average volume of 138,926. Movado Group has a 12-month low of $20.50 and a 12-month high of $33.70. The firm has a market capitalization of $668.67, a price-to-earnings ratio of 17.15 and a beta of 0.21. The company has a quick ratio of 3.12, a current ratio of 4.80 and a debt-to-equity ratio of 0.05.

Movado Group (NYSE:MOV) last announced its quarterly earnings results on Tuesday, November 21st. The company reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.18. Movado Group had a return on equity of 8.34% and a net margin of 4.35%. The firm had revenue of $190.69 million for the quarter, compared to analyst estimates of $176.33 million. During the same period last year, the firm posted $0.91 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. analysts forecast that Movado Group will post 1.74 EPS for the current year.

Movado Group declared that its Board of Directors has initiated a share buyback program on Tuesday, August 29th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

In other news, CFO Sallie A. Demarsilis sold 8,977 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $28.50, for a total transaction of $255,844.50. Following the completion of the transaction, the chief financial officer now directly owns 37,379 shares in the company, valued at $1,065,301.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sallie A. Demarsilis sold 5,401 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $28.44, for a total value of $153,604.44. Following the transaction, the chief financial officer now owns 31,978 shares of the company’s stock, valued at $909,454.32. The disclosure for this sale can be found here. Insiders have sold 20,012 shares of company stock valued at $565,805 over the last 90 days. 33.30% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of MOV. Janus Henderson Group PLC bought a new position in shares of Movado Group during the second quarter worth about $13,810,000. Deprince Race & Zollo Inc. bought a new position in shares of Movado Group during the second quarter worth about $10,666,000. FMR LLC raised its position in shares of Movado Group by 62.5% during the second quarter. FMR LLC now owns 588,709 shares of the company’s stock worth $14,865,000 after acquiring an additional 226,510 shares during the last quarter. Brandes Investment Partners LP raised its position in shares of Movado Group by 1,536.0% during the second quarter. Brandes Investment Partners LP now owns 142,429 shares of the company’s stock worth $3,596,000 after acquiring an additional 133,723 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Movado Group by 31.5% during the second quarter. Northern Trust Corp now owns 400,216 shares of the company’s stock worth $10,105,000 after acquiring an additional 95,967 shares during the last quarter. Institutional investors own 63.85% of the company’s stock.

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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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