Fossil Group (NASDAQ:FOSL) Share Price Breaks Above 200-Day Moving Average – What’s Next?

Shares of Fossil Group, Inc. (NASDAQ:FOSL) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $4.92 and traded as high as $7.20. Fossil Group shares last traded at $6.90, with a volume of 579,728 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Craig Hallum started coverage on shares of Fossil Group in a research note on Thursday, September 10th. They issued a “buy” rating and a $12.00 price target for the company. Northland Securities set a $8.00 price objective on Fossil Group in a research report on Thursday, August 13th. Lake Street Capital started coverage on Fossil Group in a research note on Wednesday, October 7th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Fossil Group in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.25.

Fossil Group Price Performance

The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.05 and a current ratio of 1.76. The company has a market cap of $409.25 million, a price-to-earnings ratio of -5.41 and a beta of 1.55. The company’s 50 day moving average price is $5.80 and its 200 day moving average price is $4.94.

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

Insiders Place Their Bets

In related news, Director Pamela J. Edwards acquired 7,208 shares of Fossil Group stock in a transaction dated Thursday, August 20th. The stock was purchased at an average cost of $5.58 per share, for a total transaction of $40,220.64. Following the purchase, the director directly owned 50,251 shares of the company’s stock, valued at approximately $280,400.58. This trade represents a 16.75% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fossil Group

Large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new stake in shares of Fossil Group in the second quarter valued at about $34,000. The Manufacturers Life Insurance Company purchased a new position in Fossil Group during the second quarter worth about $64,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in Fossil Group during the 2nd quarter worth approximately $73,000. State of Wyoming bought a new position in Fossil Group during the 2nd quarter valued at $101,000. Finally, Cannon Global Investment Management LLC bought a new position in Fossil Group during the first quarter worth $110,000. 61.14% of the stock is owned by institutional investors and hedge funds.

About Fossil Group

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.