Movado Group More Than Doubles in Value Through 2021
October 7, 2022
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Movado Group Intrinsic Stock Value – Movado Group ($NYSE:MOV), Inc. is a leading international designer and manufacturer of watches and jewelry. Movado Group’s portfolio of brands includes Movado, Ebel, Concord, ESQ, Coach Watches, Tommy Hilfiger Watches, Hugo Boss Watches, Lacoste Watches, Juicy Couture Watches, and Scuderia Ferrari Watches. Despite losing a third of its value YTD, Movado Group, Inc. stock more than doubled in value through 2021 and outperformed the S&P 500 by 600 bps in the previous 52 weeks due to a steep rise in Q4 2021 stemming from the above-expectations Q3 2021 earnings report.
Movado Group attributed the strong results to robust growth in its core brands, including Movado, Ebel, and Concord, as well as continued momentum in its licensed brands business. Movado Group’s strong performance in Q3 and positive guidance for the full year have driven the stock higher and given investors confidence in the company’s growth prospects.
Share Price
Movado Group More Than Doubles in Value Through 2021 At the time of writing, media coverage of the company is mostly positive. On Tuesday, MOVADO GROUP stock opened at $29.3 and closed at $30.9, a rise of 8.0% from its prior closing price of $28.6. The company’s stock has been on a steady upward trend since the start of the year, and shows no signs of slowing down. Investors are bullish on Movado Group’s prospects, as the company is well-positioned to benefit from the continued growth of the global luxury watch market.
Movado Group’s products are highly regarded by industry experts, and its brands have a strong presence in both brick-and-mortar and online retail channels. With its strong financial position and bright outlook, Movado Group is poised for continued success in the years to come.
VI Analysis – Movado Group Intrinsic Stock Value
MOVADO GROUP’s fundamentals reflect its long term potential, and the company’s stock is currently trading at a fair price that is 6% overvalued. The company’s fair value is around $29.2, as calculated by VI Line. MOVADO GROUP’s current stock price of $30.9 reflects its potential long term growth prospects.
Summary
Movado Group is a luxury watch company that has seen its stock more than double in value since the beginning of 2021. The company has been in the news recently for its strong financial performance and positive media coverage. The stock price has moved up the same day as the news, indicating that investors are bullish on the company’s prospects.
