BidaskClub cut shares of Fossil Group (NASDAQ:FOSL) from a sell rating to a strong sell rating in a report released on Friday morning, BidAskClub reports.

Other analysts also recently issued research reports about the stock. Telsey Advisory Group reissued a market perform rating and set a $17.00 target price (down previously from $20.00) on shares of Fossil Group in a research report on Friday, February 8th. ValuEngine downgraded shares of Fossil Group from a hold rating to a sell rating in a research report on Thursday, February 14th. Zacks Investment Research raised shares of Fossil Group from a sell rating to a hold rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Co dropped their target price on shares of Fossil Group from $14.00 to $8.00 and set an underperform rating for the company in a research report on Thursday, February 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Fossil Group currently has an average rating of Hold and an average price target of $20.00.

NASDAQ FOSL opened at $13.56 on Friday. Fossil Group has a 12 month low of $12.60 and a 12 month high of $32.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.08 and a quick ratio of 1.45. The stock has a market cap of $671.41 million, a PE ratio of 35.50 and a beta of 0.17.

Fossil Group (NASDAQ:FOSL) last posted its earnings results on Wednesday, February 13th. The accessories brand company reported $1.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.26). The business had revenue of $786.90 million for the quarter, compared to analyst estimates of $805.17 million. Fossil Group had a positive return on equity of 3.86% and a negative net margin of 0.14%. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS. On average, analysts expect that Fossil Group will post 0.64 earnings per share for the current fiscal year.

In related news, insider Gregory A. Mckelvey sold 249,940 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $14.64, for a total transaction of $3,659,121.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Kosta N. Kartsotis sold 50,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $15.92, for a total transaction of $796,000.00. The disclosure for this sale can be found here. 8.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of FOSL. Morgan Stanley boosted its holdings in Fossil Group by 364.8% in the 3rd quarter. Morgan Stanley now owns 1,391,269 shares of the accessories brand company’s stock worth $32,389,000 after acquiring an additional 1,091,931 shares during the period. United Services Automobile Association boosted its holdings in Fossil Group by 9.3% in the 4th quarter. United Services Automobile Association now owns 11,045 shares of the accessories brand company’s stock worth $174,000 after acquiring an additional 943 shares during the period. First Trust Advisors LP purchased a new position in Fossil Group in the 4th quarter worth approximately $2,315,000. Vanguard Group Inc boosted its holdings in Fossil Group by 28.7% in the 3rd quarter. Vanguard Group Inc now owns 5,542,764 shares of the accessories brand company’s stock worth $129,035,000 after acquiring an additional 1,235,339 shares during the period. Finally, FMR LLC boosted its holdings in Fossil Group by 0.5% in the 4th quarter. FMR LLC now owns 7,417,523 shares of the accessories brand company’s stock worth $116,677,000 after acquiring an additional 40,142 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

Fossil Group Company Profile

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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