Fossil Group (NASDAQ:FOSL) was downgraded by equities research analysts at TheStreet from a “c-” rating to a “d” rating in a research note issued on Thursday, TheStreetRatingsTable reports.
Several other research firms have also weighed in on FOSL. Wells Fargo & Co cut their target price on shares of Fossil Group from $8.00 to $6.00 and set an “underperform” rating for the company in a report on Thursday. Telsey Advisory Group reaffirmed a “market perform” rating and set a $12.00 target price (down from $15.00) on shares of Fossil Group in a report on Monday, August 5th. BidaskClub raised shares of Fossil Group from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research raised shares of Fossil Group from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Wednesday, October 23rd. Finally, ValuEngine lowered shares of Fossil Group from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $10.33.
Shares of NASDAQ:FOSL traded down $0.98 during trading on Thursday, reaching $8.93. The stock had a trading volume of 3,074,300 shares, compared to its average volume of 1,447,614. Fossil Group has a one year low of $8.92 and a one year high of $22.24. The company has a current ratio of 1.92, a quick ratio of 1.05 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $652.60 million, a P/E ratio of 11.45 and a beta of 0.40. The firm’s 50-day simple moving average is $11.45 and its 200 day simple moving average is $11.51.
Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings results on Wednesday, August 7th. The accessories brand company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The company had revenue of $501.40 million during the quarter, compared to analyst estimates of $499.05 million. Fossil Group had a net margin of 1.40% and a return on equity of 6.94%. Fossil Group’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.16) EPS. Equities research analysts forecast that Fossil Group will post 1.49 earnings per share for the current fiscal year.
In other news, EVP Gregory A. Mckelvey bought 33,600 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $10.22 per share, with a total value of $343,392.00. Following the acquisition, the executive vice president now directly owns 432,093 shares in the company, valued at $4,415,990.46. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Darren E. Hart purchased 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was bought at an average cost of $10.03 per share, with a total value of $200,600.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 153,600 shares of company stock valued at $1,529,992. Insiders own 8.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of FOSL. Marshall Wace North America L.P. purchased a new stake in Fossil Group in the 1st quarter worth $26,000. US Bancorp DE increased its holdings in Fossil Group by 523.7% in the 2nd quarter. US Bancorp DE now owns 2,551 shares of the accessories brand company’s stock worth $29,000 after acquiring an additional 2,142 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Fossil Group in the 2nd quarter worth $30,000. Bank of Montreal Can purchased a new stake in Fossil Group in the 2nd quarter worth $45,000. Finally, Flinton Capital Management LLC increased its holdings in Fossil Group by 22.8% in the 2nd quarter. Flinton Capital Management LLC now owns 6,032 shares of the accessories brand company’s stock worth $69,000 after acquiring an additional 1,120 shares in the last quarter.
About Fossil Group
Fossil Group, Inc designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. Its principal products include men's and women's fashion watches and jewelry, smartwatches, handbags, small leather goods, belts, and sunglasses.
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