TheStreet downgraded shares of Fossil Group (NASDAQ:FOSL) from a c- rating to a d rating in a research note issued to investors on Thursday, TheStreetRatingsTable reports.
Other research analysts also recently issued reports about the company. BidaskClub upgraded Fossil Group from a hold rating to a buy rating in a report on Friday. Telsey Advisory Group restated a market perform rating and set a $12.00 price objective (down from $15.00) on shares of Fossil Group in a report on Monday, August 5th. Zacks Investment Research upgraded Fossil Group from a hold rating to a buy rating and set a $13.00 price objective on the stock in a report on Wednesday, October 23rd. ValuEngine downgraded Fossil Group from a hold rating to a sell rating in a report on Friday, November 1st. Finally, Wells Fargo & Co reduced their price objective on Fossil Group from $8.00 to $6.00 and set an underperform rating on the stock in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $10.33.
Shares of NASDAQ:FOSL traded down $0.98 during trading on Thursday, hitting $8.93. 3,074,300 shares of the company’s stock were exchanged, compared to its average volume of 1,447,614. Fossil Group has a 52-week low of $8.92 and a 52-week high of $22.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.05. The company has a market cap of $652.60 million, a price-to-earnings ratio of 11.45 and a beta of 0.40. The business’s 50-day simple moving average is $11.45 and its 200 day simple moving average is $11.51.
Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings results on Wednesday, August 7th. The accessories brand company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.03. The firm had revenue of $501.40 million during the quarter, compared to analyst estimates of $499.05 million. Fossil Group had a return on equity of 6.94% and a net margin of 1.40%. Fossil Group’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same period last year, the company earned ($0.16) EPS. On average, sell-side analysts anticipate that Fossil Group will post 1.49 EPS for the current fiscal year.
In other news, EVP Gregory A. Mckelvey purchased 100,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was bought at an average price of $9.86 per share, with a total value of $986,000.00. Following the transaction, the executive vice president now owns 432,093 shares in the company, valued at approximately $4,260,436.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregory A. Mckelvey purchased 33,600 shares of the stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $10.22 per share, with a total value of $343,392.00. Following the transaction, the executive vice president now owns 432,093 shares in the company, valued at approximately $4,415,990.46. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 153,600 shares of company stock worth $1,529,992. 8.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of FOSL. Tower Research Capital LLC TRC lifted its holdings in shares of Fossil Group by 3,247.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,465 shares of the accessories brand company’s stock valued at $93,000 after buying an additional 7,242 shares during the period. SG Americas Securities LLC acquired a new position in shares of Fossil Group in the 3rd quarter valued at about $133,000. Russell Investments Group Ltd. lifted its holdings in shares of Fossil Group by 7.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 39,200 shares of the accessories brand company’s stock valued at $490,000 after buying an additional 2,600 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Fossil Group by 15.0% in the 3rd quarter. California Public Employees Retirement System now owns 80,767 shares of the accessories brand company’s stock valued at $1,010,000 after buying an additional 10,548 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in shares of Fossil Group in the 3rd quarter valued at about $186,000.
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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