Fossil Group (FOSL) Lowered to Underperform at Buckingham Research
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Fossil Group from a sell rating to a hold rating in a research report on Tuesday. ValuEngine cut shares of Fossil Group from a buy rating to a hold rating in a research report on Thursday, November 9th. Bank of America dropped their price objective on shares of Fossil Group from $7.00 to $4.00 and set an underperform rating for the company in a research report on Wednesday, November 8th. Finally, Piper Jaffray Companies set a $10.00 price objective on shares of Fossil Group and gave the stock a hold rating in a research report on Thursday, October 12th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. Fossil Group currently has an average rating of Hold and a consensus target price of $11.35.
Fossil Group (FOSL) traded down $0.06 during mid-day trading on Friday, reaching $8.34. 2,771,865 shares of the company traded hands, compared to its average volume of 1,661,247. The company has a quick ratio of 1.09, a current ratio of 2.32 and a debt-to-equity ratio of 0.68. Fossil Group has a 1 year low of $5.50 and a 1 year high of $26.78. The company has a market cap of $407.63, a PE ratio of -1.16 and a beta of 0.75.
Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings data on Tuesday, November 7th. The accessories brand company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.32. Fossil Group had a negative net margin of 12.33% and a positive return on equity of 4.75%. The firm had revenue of $689.00 million during the quarter, compared to analysts’ expectations of $649.87 million. During the same quarter in the previous year, the company posted $0.36 EPS. Fossil Group’s revenue was down 6.6% on a year-over-year basis. equities research analysts anticipate that Fossil Group will post -0.22 earnings per share for the current year.
In other news, EVP Martin Frey purchased 7,500 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was bought at an average price of $7.41 per share, with a total value of $55,575.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Gregory A. Mckelvey purchased 110,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was purchased at an average cost of $6.22 per share, with a total value of $684,200.00. The disclosure for this purchase can be found here. 12.80% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in shares of Fossil Group in the 2nd quarter valued at $120,000. KBC Group NV grew its holdings in shares of Fossil Group by 167.9% in the 3rd quarter. KBC Group NV now owns 13,441 shares of the accessories brand company’s stock valued at $125,000 after buying an additional 8,424 shares during the period. BlueCrest Capital Management Ltd acquired a new position in shares of Fossil Group in the 2nd quarter valued at $130,000. Crossmark Global Holdings Inc. acquired a new position in shares of Fossil Group in the 3rd quarter valued at $137,000. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Fossil Group in the 3rd quarter valued at $182,000. 91.83% of the stock is owned by institutional investors.
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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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