Fossil Group (FOSL) Raised to Sell at BidaskClub

BidaskClub upgraded shares of Fossil Group (NASDAQ:FOSL) from a strong sell rating to a sell rating in a report issued on Friday, May 10th, BidAskClub reports.

Several other analysts also recently issued reports on FOSL. Telsey Advisory Group reaffirmed a market perform rating and set a $17.00 price objective (down from $20.00) on shares of Fossil Group in a report on Friday, February 8th. Wells Fargo & Co reduced their price target on shares of Fossil Group from $14.00 to $8.00 and set an underperform rating for the company in a report on Thursday, February 14th. ValuEngine downgraded shares of Fossil Group from a hold rating to a sell rating in a report on Thursday, February 14th. Finally, Zacks Investment Research downgraded shares of Fossil Group from a hold rating to a strong sell rating in a report on Monday, February 18th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $20.00.

Shares of FOSL traded down $0.53 during mid-day trading on Friday, hitting $12.82. 1,151,300 shares of the company’s stock were exchanged, compared to its average volume of 1,690,444. Fossil Group has a twelve month low of $12.24 and a twelve month high of $32.17. The firm has a market cap of $676.38 million, a price-to-earnings ratio of 16.44 and a beta of 0.17. The company has a quick ratio of 1.22, a current ratio of 1.99 and a debt-to-equity ratio of 0.86.

Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings data on Wednesday, May 8th. The accessories brand company reported ($0.42) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.53) by $0.11. The business had revenue of $465.30 million during the quarter, compared to the consensus estimate of $453.97 million. Fossil Group had a net margin of 1.34% and a return on equity of 8.88%. Fossil Group’s quarterly revenue was down 18.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.99) EPS. As a group, research analysts predict that Fossil Group will post 0.55 earnings per share for the current fiscal year.

In related news, Chairman Kosta N. Kartsotis sold 50,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $15.92, for a total transaction of $796,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory A. Mckelvey sold 249,940 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $14.64, for a total transaction of $3,659,121.60. The disclosure for this sale can be found here. 8.00% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Morgan Stanley increased its position in Fossil Group by 364.8% in the 3rd quarter. Morgan Stanley now owns 1,391,269 shares of the accessories brand company’s stock valued at $32,389,000 after acquiring an additional 1,091,931 shares in the last quarter. United Services Automobile Association increased its position in Fossil Group by 9.3% in the 4th quarter. United Services Automobile Association now owns 11,045 shares of the accessories brand company’s stock valued at $174,000 after acquiring an additional 943 shares in the last quarter. First Trust Advisors LP acquired a new stake in Fossil Group in the 4th quarter valued at about $2,315,000. Vanguard Group Inc increased its position in Fossil Group by 28.7% in the 3rd quarter. Vanguard Group Inc now owns 5,542,764 shares of the accessories brand company’s stock valued at $129,035,000 after acquiring an additional 1,235,339 shares in the last quarter. Finally, FMR LLC increased its position in Fossil Group by 0.5% in the 4th quarter. FMR LLC now owns 7,417,523 shares of the accessories brand company’s stock valued at $116,677,000 after acquiring an additional 40,142 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Fossil Group Company Profile

Fossil Group, Inc designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. Its principal products include men's and women's fashion watches and jewelry, smartwatches, handbags, small leather goods, belts, and sunglasses.

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