Brean Murray Carret Raises Price Target on Oxford Industries (OXM) Following Solid Q3 Results
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Price: $64.55 +0.16%
Rating Summary:
3 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
3 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade OXM Now!
Brean Murray Carret & Co. is maintaining its Buy rating on shares of Oxford Industries (NYSE: OXM) and is increasing its price target from $44 to $46.
The company reported solid Q3 results, while the firm notes Tommy Bahama and Lilly Pulitzer continue to look more like lifestyle brands as time goes on. Higher gross margin in Tommy Bahama was offset by margin declines in Ben Sherman and Lanier Clothes. Tommy Bahama's revenues also increased by 14 percent during the quarter, doubling Lanier Clothes growth of 7.3 percent.
Management increased its FY12 EPS guidance from $2.20-$2.30 to $2.30-$2.35 following strong holiday shopping trends. The firm is increasing its FY12 and FY13 EPS estimates from $2.28 and $2.70 to $2.36 and $2.80.
For an analyst ratings summary and ratings history on Oxford Industries click here. For more ratings news on Oxford Industries click here.
Shares of Oxford Industries closed at $40.42 yesterday, with a 52 week range of $21.50-$41.67.
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The company reported solid Q3 results, while the firm notes Tommy Bahama and Lilly Pulitzer continue to look more like lifestyle brands as time goes on. Higher gross margin in Tommy Bahama was offset by margin declines in Ben Sherman and Lanier Clothes. Tommy Bahama's revenues also increased by 14 percent during the quarter, doubling Lanier Clothes growth of 7.3 percent.
Management increased its FY12 EPS guidance from $2.20-$2.30 to $2.30-$2.35 following strong holiday shopping trends. The firm is increasing its FY12 and FY13 EPS estimates from $2.28 and $2.70 to $2.36 and $2.80.
For an analyst ratings summary and ratings history on Oxford Industries click here. For more ratings news on Oxford Industries click here.
Shares of Oxford Industries closed at $40.42 yesterday, with a 52 week range of $21.50-$41.67.
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