Fossil Group (NASDAQ:FOSL) Now Covered by Lake Street Capital

Lake Street Capital began coverage on shares of Fossil Group (NASDAQ:FOSL) in a report published on Wednesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $10.00 target price on the accessories brand company’s stock.

FOSL has been the topic of several other research reports. Craig Hallum assumed coverage on Fossil Group in a research note on Thursday, September 10th. They issued a “buy” rating and a $12.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Fossil Group in a report on Friday, July 17th. Finally, Northland Securities set a $8.00 price objective on Fossil Group in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $9.25.

Fossil Group Stock Performance

NASDAQ FOSL opened at $7.08 on Wednesday. The stock has a market cap of $418.71 million, a P/E ratio of -5.53 and a beta of 1.55. The company’s 50-day simple moving average is $5.63 and its 200 day simple moving average is $4.81. Fossil Group has a twelve month low of $1.70 and a twelve month high of $7.33. The company has a quick ratio of 1.05, a current ratio of 1.76 and a debt-to-equity ratio of 2.74.

Fossil Group (NASDAQ:FOSL) last released its quarterly earnings data on Wednesday, August 12th. The accessories brand company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.16. Fossil Group had a negative return on equity of 59.76% and a negative net margin of 7.09%.The company had revenue of $209.69 million for the quarter, compared to the consensus estimate of $199.33 million. As a group, research analysts forecast that Fossil Group will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In other Fossil Group news, Director Pamela J. Edwards bought 7,208 shares of Fossil Group stock in a transaction dated Thursday, August 20th. The shares were acquired at an average cost of $5.58 per share, with a total value of $40,220.64. Following the acquisition, the director directly owned 50,251 shares of the company’s stock, valued at $280,400.58. The trade was a 16.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Fossil Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nantahala Capital Management LLC acquired a new position in Fossil Group in the second quarter worth $22,791,230. BlackRock Inc. acquired a new stake in shares of Fossil Group in the second quarter valued at $15,263,000. Miller Value Partners LLC acquired a new stake in shares of Fossil Group in the second quarter valued at $8,874,000. Fund 1 Investments LLC bought a new position in shares of Fossil Group in the second quarter valued at about $2,223,000. Finally, Sei Investments Co. lifted its position in Fossil Group by 107.6% during the 1st quarter. Sei Investments Co. now owns 253,771 shares of the accessories brand company’s stock worth $1,094,000 after buying an additional 131,531 shares in the last quarter. 61.14% of the stock is owned by institutional investors and hedge funds.

Fossil Group Company Profile

Fossil Group, Inc is a global design, marketing and distribution company focused on consumer lifestyle accessories. The company is best known for watches and also offers jewelry, handbags, small leather goods and other accessories.

Fossil Group markets products under its owned brands, including Fossil, Skagen, Michele and Zodiac, as well as through licensed and other brand relationships. Its products are sold through company-operated and third-party retail stores, e-commerce platforms and other distribution channels.

Founded in 1984 by Tom Kartsotis, the company is headquartered in Richardson, Texas, and serves customers in markets across North America, Europe, Asia and other international regions.