Oxford Industries Inc. (NYSE: OXM) has experienced a notable shift in its stock rating, as analysts at Wall Street Zen lowered their assessment from “hold” to “sell” in a research note issued on December 11, 2023. This decision reflects broader concerns regarding the company’s financial performance and market expectations.
Several other financial institutions have also revised their outlook on Oxford Industries. Truist Financial decreased their price target from $50.00 to $35.00 while maintaining a “hold” rating. Similarly, Citigroup adjusted their price objective from $35.00 to $33.00, assigning a “neutral” rating to the stock. Furthermore, Zacks Research categorized the shares as a “strong sell” after downgrading them from a prior “hold” rating. According to MarketBeat.com, the current average rating for Oxford Industries stands at “Reduce,” with an average target price of $43.60.
Financial Performance Insights
The company’s recent quarterly earnings report, released on December 10, 2023, indicated a loss of $0.92 earnings per share (EPS), which surpassed analysts’ expectations of a $0.95 loss by $0.03. Despite this positive surprise, Oxford Industries reported a slight decline in revenue, with figures reaching $307.34 million for the quarter—just above the anticipated $304.42 million. This represents a 0.2% decrease compared to the same quarter last year.
Looking ahead, Oxford Industries has set its fiscal year 2025 guidance between $-1.540 and $-1.320 EPS, with Q4 2025 guidance ranging from $0.000 to $0.200 EPS. Analysts project an average EPS of 6.62 for the current year, reflecting cautious optimism despite the recent downgrades.
Insider Activity and Institutional Interest
In a significant move, CEO Thomas Caldecot Chubb III purchased 5,000 shares of Oxford Industries at an average price of $35.12 per share, totaling $175,600.00. With this acquisition, Chubb’s total holdings in the company have increased to 22,709 shares, valued at approximately $797,540.08. This transaction, reported to the Securities and Exchange Commission (SEC), highlights insider confidence amid fluctuating market conditions.
Institutional investors have also shown dynamic activity regarding Oxford Industries. For instance, Jump Financial LLC acquired a new stake valued at about $4.775 million during the first quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings by 5.8%, now owning 12,724 shares worth $512,000. Additionally, CenterBook Partners LP raised its stake by an impressive 226.6%, acquiring 81,236 shares valued at approximately $3.27 million.
Overall, institutional investors and hedge funds collectively hold 91.16% of Oxford Industries’ stock, reflecting a strong institutional interest despite recent ratings downgrades.
Founded in 1942 and headquartered in Atlanta, Georgia, Oxford Industries is a prominent designer and distributor of high-quality lifestyle apparel and accessories. Its product range includes well-known brands such as Tommy Bahama and Southern Tide, catering to a diverse consumer base.
As analysts continue to assess the implications of recent financial results and stock ratings, the future performance of Oxford Industries will be closely monitored by investors and market observers alike.
