Fossil Group (NASDAQ:FOSL) was downgraded by Buckingham Research from a “neutral” rating to an “underperform” rating in a research note issued to investors on Friday, January 5th, Marketbeat reports.
Several other equities research analysts have also weighed in on FOSL. Piper Jaffray Companies set a $10.00 target price on Fossil Group and gave the stock a “hold” rating in a research report on Thursday, October 12th. Zacks Investment Research raised Fossil Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Bank of America cut their price target on Fossil Group from $7.00 to $4.00 and set an “underperform” rating on the stock in a research report on Wednesday, November 8th. Finally, ValuEngine lowered Fossil Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $11.27.
Fossil Group (NASDAQ:FOSL) opened at $7.96 on Friday. The company has a current ratio of 2.32, a quick ratio of 1.09 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $383.61, a PE ratio of -1.11 and a beta of 0.75. Fossil Group has a twelve month low of $5.50 and a twelve month high of $26.01.
Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings data on Tuesday, November 7th. The accessories brand company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.32. The business had revenue of $689.00 million during the quarter, compared to analysts’ expectations of $649.87 million. Fossil Group had a positive return on equity of 4.75% and a negative net margin of 12.33%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS. equities analysts anticipate that Fossil Group will post -0.22 earnings per share for the current fiscal year.
In related news, EVP Gregory A. Mckelvey acquired 110,000 shares of Fossil Group stock in a transaction dated Friday, November 10th. The shares were acquired at an average cost of $6.22 per share, for a total transaction of $684,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Martin Frey acquired 7,500 shares of Fossil Group stock in a transaction dated Wednesday, November 22nd. The stock was bought at an average price of $7.41 per share, for a total transaction of $55,575.00. The disclosure for this purchase can be found here. 12.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in FOSL. JPMorgan Chase & Co. increased its stake in Fossil Group by 3,915.2% in the second quarter. JPMorgan Chase & Co. now owns 2,514,634 shares of the accessories brand company’s stock valued at $26,027,000 after purchasing an additional 2,452,006 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Fossil Group by 6,109.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,273,027 shares of the accessories brand company’s stock valued at $13,176,000 after purchasing an additional 1,252,527 shares during the last quarter. Southpoint Capital Advisors LP acquired a new position in Fossil Group in the second quarter valued at $10,350,000. Contrarius Investment Management Ltd increased its stake in Fossil Group by 511.8% in the third quarter. Contrarius Investment Management Ltd now owns 1,111,463 shares of the accessories brand company’s stock valued at $10,370,000 after purchasing an additional 929,803 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Fossil Group by 1,481.4% in the second quarter. Wells Fargo & Company MN now owns 499,264 shares of the accessories brand company’s stock valued at $5,167,000 after purchasing an additional 467,692 shares during the last quarter. Hedge funds and other institutional investors own 92.25% of the company’s stock.
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Fossil Group Company Profile
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments include Americas, Europe and Asia. Each segment includes sales to wholesale and distributor customers, and sales through the Company-owned retail stores and e-commerce activities based on the location of the selling entity.
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