Fossil Group, Inc. (FOSL) Receives $16.54 Consensus PT from Analysts
Fossil Group, Inc. (NASDAQ:FOSL) has been given an average rating of “Hold” by the twenty-one ratings firms that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $16.54.
Several brokerages recently commented on FOSL. Buckingham Research reduced their target price on Fossil Group from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 9th. Bank of America Corporation set a $7.00 price target on Fossil Group and gave the company a “sell” rating in a research note on Wednesday, August 9th. Telsey Advisory Group dropped their price target on Fossil Group from $13.00 to $11.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 9th. ValuEngine lowered Fossil Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Wells Fargo & Company reissued an “underperform” rating and issued a $8.00 price target on shares of Fossil Group in a research note on Thursday, August 3rd.
Shares of Fossil Group (NASDAQ FOSL) traded down 2.00% during mid-day trading on Wednesday, hitting $9.33. 1,293,130 shares of the company were exchanged. The company’s market capitalization is $452.70 million. The firm has a 50 day moving average of $8.82 and a 200 day moving average of $12.36. Fossil Group has a 12-month low of $6.80 and a 12-month high of $36.87.
Fossil Group (NASDAQ:FOSL) last announced its earnings results on Tuesday, August 8th. The accessories brand company reported ($0.23) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.05. Fossil Group had a positive return on equity of 6.34% and a negative net margin of 11.33%. The business had revenue of $596.80 million for the quarter, compared to analysts’ expectations of $617.89 million. During the same period in the prior year, the business posted $0.12 earnings per share. The firm’s revenue was down 12.9% on a year-over-year basis. Equities research analysts forecast that Fossil Group will post $0.47 earnings per share for the current year.
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In related news, Director James M. Zimmerman purchased 36,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was acquired at an average price of $8.30 per share, for a total transaction of $298,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Darren E. Hart purchased 14,347 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were bought at an average price of $6.99 per share, with a total value of $100,285.53. The disclosure for this purchase can be found here. Insiders have bought 114,945 shares of company stock worth $923,917 over the last ninety days. 12.80% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in FOSL. Acadian Asset Management LLC bought a new stake in Fossil Group during the second quarter worth $113,000. GSA Capital Partners LLP bought a new stake in Fossil Group during the second quarter worth $120,000. Campbell & CO Investment Adviser LLC bought a new stake in Fossil Group during the second quarter worth $122,000. BlueCrest Capital Management Ltd bought a new stake in Fossil Group during the second quarter worth $130,000. Finally, Louisiana State Employees Retirement System grew its holdings in Fossil Group by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the accessories brand company’s stock worth $178,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.
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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