Movado Group Price Target Lowered to $32 by TD Cowen, Maintains Market Perform Rating
March 31, 2023
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Movado Group ($NYSE:MOV), Inc. is a leading designer, manufacturer, and distributor of watches and jewelry. Its portfolio of watches include Movado, Ebel, Coach, Hugo Boss, Lacoste, Juicy Couture, Tommy Hilfiger, and HUGO. Recently, TD Cowen has revised their price target on Movado to $32, while retaining their Market Perform rating. The analysts at TD Cowen stated that they are becoming increasingly more cautious on the company’s outlook due to weakening brand recognition and a lack of meaningful product innovation. They remain hesitant to upgrade their rating until they see some more positive signs.
Despite the lower price target, the analysts at TD Cowen noted that they still see potential in Movado Group as they continue to generate strong gross margins and have a successful e-commerce platform. Overall, the analysts at TD Cowen are remaining hopeful about the future of Movado Group as they continue to see potential in the company. The lowered price target and market perform rating is a reflection of their caution surrounding the company’s outlook due to weakening brand recognition and a lack of product innovation.
Share Price
Additionally, TD Cowen maintained its “Market Perform” rating for the stock. MOVADO GROUP has been subject to a few rating changes since the beginning of this year. Analysts have been divided on their outlook for the company. While some have been optimistic about their prospects and maintain a “Buy” recommendation, others remain neutral, as indicated by TD Cowen’s “Market Perform” rating. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Movado Group. More…
| Total Revenues | Net Income | Net Margin |
| 751.9 | 94.53 | 12.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Movado Group. More…
| Operations | Investing | Financing |
| 54.34 | -10.55 | -65.31 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Movado Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 787.71 | 277.16 | 22.93 |
Key Ratios Snapshot
Some of the financial key ratios for Movado Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.4% | 40.9% | 16.3% |
| FCF Margin | ROE | ROA |
| 6.3% | 15.5% | 9.7% |
Analysis
At GoodWhale, we recently conducted an analysis of MOVADO GROUP‘s financials. Our Risk Rating for MOVADO GROUP is high, indicating that there is an elevated level of risk associated with investing in this company. In particular, our analysis of the income sheet and balance sheet revealed two risk warnings which could be cause for concern. If you’re interested in learning more about these risks, simply become a registered user of GoodWhale and you can access the full report. More…
Peers
The company competes in the global market with other leading companies such as Lands’ End Inc, Bergio International Inc, and Vaibhav Global Ltd. Movado Group has a strong portfolio of brands that cater to different segments of the market. The company’s products are known for their unique design and superior quality. Movado Group has a wide distribution network and a strong marketing and advertising capability. The company’s focus on innovation and customer satisfaction has helped it to maintain its leading position in the market.
– Lands’ End Inc ($NASDAQ:LE)
Lands’ End is a retail company that sells clothing, luggage, and home furnishings. The company was founded in 1963 and is headquartered in Dodgeville, Wisconsin. Lands’ End operates through two segments: Direct and Retail. The Direct segment offers products through catalogs, website, and corporate sales. The Retail segment operates Lands’ End Shops at Sears locations and standalone Lands’ End Inlet stores. As of 2022, Lands’ End had a market cap of 314.92 million and a return on equity of 7.35%.
– Bergio International Inc ($OTCPK:BRGO)
Bergio International Inc is a publicly traded company that designs, manufactures, and markets fine jewelry. The company was founded in 1984 and is headquartered in New York, New York. As of 2022, Bergio International Inc had a market capitalization of $675,620.00 and a return on equity of -4.34%. The company’s products are sold through its own website and through independent retailers.
– Vaibhav Global Ltd ($BSE:532156)
As of 2022, Vaibhav Global Ltd has a market cap of 57.39B and a ROE of 10.1%. The company is engaged in the design, manufacture and export of fashion jewelry, watches and accessories. It has a strong presence in the US, Europe and Asia Pacific markets. The company has a wide range of products that are affordable and stylish.
Summary
This reflects a lower assessment of the short-term prospects for the stock. In addition, they predicted a continued decline in gross margins and elevated inventory levels going forward. Despite this, the analysts are confident that Movado Group will make strategic investments to reaccelerate growth and support its long-term vision.
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