Northland began covering Movado Group, Inc. (NYSE:MOV) on January 7, 2026, assigning an Outperform rating and setting a price target of $30. The firm reported that the company has faced tariff-related challenges but views this as a potential entry opportunity. Northland cited Movado's recession-tested structure and management team focused on returning capital to shareholders.
In its most recent quarter, Movado Group reported net sales of $186.1 million, representing a 3.1% increase compared to the same period last year. The company's gross margin expanded to 54.3%. Operating income rose to $11.7 million from $6.0 million in the previous year, with adjusted operating income reaching $12.6 million.
Adjusted earnings per share came in at $0.45, while diluted EPS increased to $0.42. The business ended the quarter with $183.9 million in cash and no debt outstanding. The board announced a quarterly dividend of $0.35 per share.
Movado Group's stock has gained 9.42% year-to-date as of January 13, 2026. The company designs, manufactures, sources, markets, and sells watches both domestically and internationally.