ValuEngine upgraded shares of Fossil Group (NASDAQ:FOSL) from a buy rating to a strong-buy rating in a research note published on Thursday.
Several other research firms have also issued reports on FOSL. Telsey Advisory Group lifted their target price on shares of Fossil Group from $16.00 to $27.00 and gave the company a market perform rating in a report on Friday, August 3rd. TheStreet upgraded shares of Fossil Group from a d rating to a c- rating in a report on Wednesday, August 8th. BidaskClub upgraded shares of Fossil Group from a hold rating to a buy rating in a report on Thursday, August 16th. KeyCorp lifted their target price on shares of Fossil Group from $32.00 to $33.00 and gave the company an overweight rating in a report on Wednesday, August 8th. Finally, Zacks Investment Research lowered shares of Fossil Group from a buy rating to a hold rating in a report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Fossil Group presently has an average rating of Hold and a consensus target price of $19.20.
FOSL traded up $0.43 on Thursday, hitting $23.65. The company had a trading volume of 1,209,224 shares, compared to its average volume of 2,188,008. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.11 and a quick ratio of 1.13. Fossil Group has a 52-week low of $5.50 and a 52-week high of $32.17. The firm has a market capitalization of $1.16 billion, a PE ratio of 473.00 and a beta of -0.12.
Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings data on Tuesday, August 7th. The accessories brand company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.65. Fossil Group had a negative net margin of 5.13% and a negative return on equity of 1.21%. The business had revenue of $576.60 million during the quarter, compared to analyst estimates of $571.95 million. Analysts expect that Fossil Group will post 0.77 EPS for the current fiscal year.
In related news, insider Gregory A. Mckelvey sold 26,138 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $26.00, for a total transaction of $679,588.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Darren E. Hart sold 25,662 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $26.30, for a total transaction of $674,910.60. Following the sale, the executive vice president now directly owns 116,325 shares of the company’s stock, valued at approximately $3,059,347.50. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. EAM Investors LLC bought a new stake in shares of Fossil Group during the second quarter valued at approximately $879,000. Renaissance Technologies LLC bought a new stake in shares of Fossil Group during the second quarter valued at approximately $25,134,000. Laurion Capital Management LP bought a new stake in shares of Fossil Group during the second quarter valued at approximately $310,000. Principal Financial Group Inc. increased its position in shares of Fossil Group by 2.7% during the first quarter. Principal Financial Group Inc. now owns 331,842 shares of the accessories brand company’s stock valued at $4,214,000 after acquiring an additional 8,661 shares in the last quarter. Finally, Chicago Equity Partners LLC bought a new stake in shares of Fossil Group during the second quarter valued at approximately $2,225,000. 91.33% of the stock is owned by institutional investors.
Fossil Group Company Profile
Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories. The company's principal products include a line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, and sunglasses. It offers its products under its proprietary brands, such as FOSSIL, MICHELE, MISFIT, RELIC, SKAGEN, and ZODIAC, as well as under the licensed brands, including ARMANI EXCHANGE, CHAPS, DIESEL, DKNY, EMPORIO ARMANI, KARL LAGERFELD, KATE SPADE NEW YORK, MARC JACOBS, MICHAEL KORS, and TORY BURCH.
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