Fossil Group Inc (NASDAQ:FOSL) Receives Consensus Recommendation of “Hold” from Analysts

Fossil Group Inc (NASDAQ:FOSL) has been assigned a consensus rating of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $3.75.

Separately, BidaskClub downgraded Fossil Group from a “buy” rating to a “hold” rating in a report on Friday, October 2nd.

Several hedge funds have recently made changes to their positions in FOSL. Marshall Wace North America L.P. purchased a new stake in shares of Fossil Group during the first quarter worth approximately $26,000. Geode Capital Management LLC increased its position in shares of Fossil Group by 6.6% during the first quarter. Geode Capital Management LLC now owns 673,969 shares of the accessories brand company’s stock worth $2,216,000 after purchasing an additional 41,577 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Fossil Group by 30.2% during the first quarter. Wells Fargo & Company MN now owns 110,122 shares of the accessories brand company’s stock worth $362,000 after purchasing an additional 25,511 shares in the last quarter. Two Sigma Investments LP increased its position in shares of Fossil Group by 7,076.0% during the first quarter. Two Sigma Investments LP now owns 83,712 shares of the accessories brand company’s stock worth $275,000 after purchasing an additional 84,912 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Fossil Group by 93.4% during the first quarter. Invesco Ltd. now owns 1,046,067 shares of the accessories brand company’s stock worth $3,441,000 after purchasing an additional 505,049 shares in the last quarter. 91.73% of the stock is owned by institutional investors and hedge funds.

NASDAQ:FOSL traded up $0.21 during trading hours on Monday, reaching $6.29. The company had a trading volume of 44,535 shares, compared to its average volume of 1,629,308. Fossil Group has a 1-year low of $2.69 and a 1-year high of $13.08. The firm has a market cap of $311.90 million, a PE ratio of -2.37 and a beta of 1.38. The business’s 50 day moving average price is $6.61 and its 200-day moving average price is $4.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.90 and a quick ratio of 1.09.

Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings results on Wednesday, August 12th. The accessories brand company reported ($0.23) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.71) by $1.48. Fossil Group had a negative return on equity of 22.10% and a negative net margin of 7.41%. The company had revenue of $259.00 million during the quarter.

About Fossil Group

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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