Fossil Group (NASDAQ:FOSL) Upgraded to Strong-Buy at Craig Hallum

Fossil Group (NASDAQ:FOSL) was upgraded by analysts at Craig Hallum to a “strong-buy” rating in a report released on Thursday, Zacks reports.

Several other research analysts have also recently issued reports on FOSL. Wall Street Zen raised Fossil Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Northland Securities set a $8.00 price target on Fossil Group in a report on Thursday, August 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Fossil Group in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.00.

Fossil Group Stock Up 5.3%

Shares of Fossil Group stock opened at $4.73 on Thursday. 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 has a 52-week low of $1.70 and a 52-week high of $6.25. The company has a market capitalization of $279.72 million, a P/E ratio of -3.70 and a beta of 1.61. The company has a 50 day moving average of $4.91 and a 200 day moving average of $4.60.

Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings data on Wednesday, August 12th. The accessories brand company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.16. Fossil Group had a negative net margin of 7.09% and a negative return on equity of 59.76%. 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 EPS for the current fiscal year.

Insider Buying and Selling at Fossil Group

In other Fossil Group news, Director Pamela J. Edwards purchased 7,208 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average price of $5.58 per share, for a total transaction of $40,220.64. Following the purchase, the director directly owned 50,251 shares in the company, valued at approximately $280,400.58. This trade represents a 16.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.80% of the company’s stock.

Institutional Trading of Fossil Group

Several hedge funds and other institutional investors have recently made changes to their positions in FOSL. Wexford Capital LP purchased a new stake in Fossil Group in the 3rd quarter valued at approximately $28,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Fossil Group in the 2nd quarter valued at approximately $34,000. Qube Research & Technologies Ltd purchased a new stake in shares of Fossil Group in the third quarter valued at approximately $39,000. Texas Capital Bank Wealth Management Services Inc acquired a new position in Fossil Group during the third quarter worth $45,000. Finally, Jane Street Group LLC raised its position in Fossil Group by 93.1% in the first quarter. Jane Street Group LLC now owns 42,584 shares of the accessories brand company’s stock worth $49,000 after acquiring an additional 20,530 shares in the last quarter. Hedge funds and other institutional investors own 61.14% of the company’s stock.

About Fossil Group

Fossil Group, Inc designs, develops, markets and distributes consumer fashion accessories, focusing on lifestyle and wearable technology. The company offers a wide range of products including analog and digital watches, smartwatches, jewelry, handbags, small leather goods and wearable devices. It sells merchandise under its own Fossil brand and via license agreements with international labels such as Michael Kors, Armani Exchange, Burberry, Diesel, DKNY, Kate Spade and Tory Burch. Through its proprietary e-commerce platforms and global retail network, Fossil Group serves markets across North America, Europe, Asia and the Middle East.

The group’s wearable technology segment combines traditional timepieces with features such as fitness tracking, heart-rate monitoring and NFC payments.