Shares of Fossil Group, Inc. (NASDAQ:FOSL) were down 3.9% on Thursday after Zacks Investment Research downgraded the stock from a hold rating to a sell rating. The company traded as low as $5.50 and last traded at $5.89. Approximately 3,051,275 shares traded hands during mid-day trading, an increase of 66% from the average daily volume of 1,835,302 shares. The stock had previously closed at $5.67.

FOSL has been the subject of a number of other reports. ValuEngine cut shares of Fossil Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Buckingham Research reduced their price objective on shares of Fossil Group from $9.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday. Piper Jaffray Companies set a $10.00 price objective on shares of Fossil Group and gave the stock a “hold” rating in a research note on Thursday, October 12th. Bank of America Corporation reduced 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 note on Wednesday. Finally, BidaskClub upgraded shares of Fossil Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. Fossil Group presently has a consensus rating of “Hold” and a consensus target price of $15.43.

In other Fossil Group news, Director James M. Zimmerman acquired 36,000 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was bought 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 SEC, which is accessible through this link. Also, EVP Martin Frey acquired 7,100 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was acquired at an average price of $7.25 per share, with a total value of $51,475.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 82,147 shares of company stock valued at $644,806. Corporate insiders own 12.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of Fossil Group in the 2nd quarter valued at $113,000. GSA Capital Partners LLP acquired a new position in shares of Fossil Group in the 2nd quarter valued at $120,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Fossil Group in the 2nd quarter valued at $122,000. BlueCrest Capital Management Ltd acquired a new position in shares of Fossil Group in the 2nd quarter valued at $130,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Fossil Group in the 3rd quarter valued at $137,000.

The firm has a market capitalization of $320.25, a P/E ratio of 6.91, a PEG ratio of 0.96 and a beta of 0.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.66 and a current ratio of 2.32.

Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings data on Tuesday, November 7th. The accessories brand company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $689.00 million during the quarter, compared to analysts’ expectations of $649.87 million. During the same quarter in the prior year, the company posted $0.36 EPS. The business’s revenue was down 6.6% on a year-over-year basis. equities analysts predict that Fossil Group, Inc. will post 0.55 earnings per share for the current year.

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About Fossil Group

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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