Fossil Group (NASDAQ:FOSL) Rating Lowered to Sell at Wall Street Zen

Fossil Group (NASDAQ:FOSL) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other analysts have also recently issued research reports about the stock. Maxim Group lifted their price objective on shares of Fossil Group from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Zacks Research upgraded shares of Fossil Group to a “hold” rating in a research report on Friday, February 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fossil Group in a report on Thursday, January 22nd. Finally, Northland Securities began coverage on shares of Fossil Group in a research report on Thursday, February 19th. They issued an “outperform” rating and a $7.00 price target for the company. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Fossil Group currently has a consensus rating of “Hold” and a consensus target price of $7.00.

Fossil Group Stock Performance

Shares of NASDAQ FOSL opened at $4.01 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.55 and a quick ratio of 1.05. The stock’s fifty day moving average price is $4.06 and its two-hundred day moving average price is $3.33. Fossil Group has a one year low of $0.86 and a one year high of $5.00. The firm has a market cap of $233.69 million, a price-to-earnings ratio of -2.74 and a beta of 1.68.

Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings data on Wednesday, March 11th. The accessories brand company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.17). The firm had revenue of $280.52 million for the quarter, compared to the consensus estimate of $249.28 million. Fossil Group had a negative return on equity of 46.78% and a negative net margin of 7.81%.

Hedge Funds Weigh In On Fossil Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its position in shares of Fossil Group by 43.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 144,375 shares of the accessories brand company’s stock worth $166,000 after buying an additional 43,849 shares during the last quarter. Jane Street Group LLC grew its position in Fossil Group by 93.1% in the first quarter. Jane Street Group LLC now owns 42,584 shares of the accessories brand company’s stock valued at $49,000 after acquiring an additional 20,530 shares during the last quarter. Acadian Asset Management LLC raised its stake in Fossil Group by 154.1% during the first quarter. Acadian Asset Management LLC now owns 459,023 shares of the accessories brand company’s stock worth $527,000 after acquiring an additional 278,391 shares in the last quarter. XTX Topco Ltd acquired a new position in Fossil Group during the second quarter worth about $122,000. Finally, Nantahala Capital Management LLC lifted its holdings in shares of Fossil Group by 21.5% in the second quarter. Nantahala Capital Management LLC now owns 5,087,803 shares of the accessories brand company’s stock worth $7,530,000 after acquiring an additional 898,626 shares during the last quarter. Institutional investors own 61.14% of the company’s stock.

About Fossil Group

Fossil Group, Inc designs, develops, markets and distributes consumer fashion accessories, focusing on lifestyle and wearable technology. The company offers a wide range of products including analog and digital watches, smartwatches, jewelry, handbags, small leather goods and wearable devices. It sells merchandise under its own Fossil brand and via license agreements with international labels such as Michael Kors, Armani Exchange, Burberry, Diesel, DKNY, Kate Spade and Tory Burch. Through its proprietary e-commerce platforms and global retail network, Fossil Group serves markets across North America, Europe, Asia and the Middle East.

The group’s wearable technology segment combines traditional timepieces with features such as fitness tracking, heart-rate monitoring and NFC payments.