Fossil Group, Inc. (NASDAQ:FOSL) Receives $9.00 Consensus Target Price from Analysts

Fossil Group, Inc. (NASDAQ:FOSL) has earned a consensus rating of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $9.00.

FOSL has been the topic of several recent research reports. Craig Hallum initiated coverage on shares of Fossil Group in a report on Thursday, September 10th. They set a “buy” rating and a $12.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fossil Group in a research note on Friday, July 17th. Finally, Northland Securities set a $8.00 price target on shares of Fossil Group in a research report on Thursday, August 13th.

Fossil Group Stock Performance

NASDAQ:FOSL opened at $5.32 on Thursday. The company has a market capitalization of $314.62 million, a P/E ratio of -4.16 and a beta of 1.61. The business has a fifty day simple moving average of $4.96 and a two-hundred day simple moving average of $4.61. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.76 and a quick ratio of 1.05. Fossil Group has a 1 year low of $1.70 and a 1 year high of $6.25.

Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings results on Wednesday, August 12th. The accessories brand company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.16. The firm had revenue of $209.69 million for the quarter, compared to analysts’ expectations of $199.33 million. Fossil Group had a negative return on equity of 59.76% and a negative net margin of 7.09%. On average, analysts expect that Fossil Group will post -0.04 earnings per share for the current year.

Insiders Place Their Bets

In other Fossil Group news, Director Pamela J. Edwards acquired 7,208 shares of Fossil Group stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average cost of $5.58 per share, for a total transaction of $40,220.64. Following the purchase, the director owned 50,251 shares of the company’s stock, valued at approximately $280,400.58. This represents a 16.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Fossil Group

A number of large investors have recently made changes to their positions in the stock. Headlands Technologies LLC grew its position in shares of Fossil Group by 132.1% in the second quarter. Headlands Technologies LLC now owns 55,214 shares of the accessories brand company’s stock valued at $229,000 after purchasing an additional 31,422 shares in the last quarter. Nantahala Capital Management LLC purchased a new stake in Fossil Group during the 2nd quarter worth about $22,791,230. Empowered Funds LLC purchased a new stake in Fossil Group during the 2nd quarter worth about $558,000. Public Employees Retirement System of Ohio purchased a new stake in Fossil Group during the 2nd quarter worth about $34,000. Finally, Bank of America Corp DE bought a new position in Fossil Group in the 2nd quarter worth about $854,000. 61.14% of the stock is owned by institutional investors.

About Fossil Group

Fossil Group, Inc is a global design, marketing and distribution company focused on fashion accessories. The company is best known for its watches, including products sold under the Fossil brand and licensed brands, and also offers jewelry, handbags, small leather goods and other accessories.

Fossil Group sells products through a combination of wholesale customers, company-operated retail stores, e-commerce websites and other direct-to-consumer channels. Its products are distributed across North America, Europe, Asia and other international markets, serving consumers through department stores, specialty retailers and digital platforms.

Founded in 1984 and headquartered in Richardson, Texas, Fossil Group has expanded from its original watch business into a broader accessories company.