Fossil Group Inc. (FOSL) Rating Reiterated by Piper Jaffray Cos.
Fossil Group Inc. (NASDAQ:FOSL)‘s stock had its “sell” rating reiterated by stock analysts at Piper Jaffray Cos. in a report released on Tuesday. They currently have a $23.00 target price on the stock. Piper Jaffray Cos.’s price target suggests a potential downside of 18.06% from the company’s previous close.
A number of other analysts have also recently commented on the company. Zacks Investment Research cut Fossil Group from a “buy” rating to a “hold” rating in a research note on Monday. Cowen and Company reissued a “market perform” rating and set a $25.00 target price (down from $30.00) on shares of Fossil Group in a research note on Friday, November 4th. Jefferies Group reissued a “hold” rating and set a $24.00 target price (down from $29.00) on shares of Fossil Group in a research note on Friday, November 4th. Telsey Advisory Group lowered their target price on Fossil Group from $32.00 to $27.00 and set a “market perform” rating for the company in a research note on Friday, November 4th. Finally, Mizuho lowered their target price on Fossil Group from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, November 4th. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. Fossil Group has a consensus rating of “Hold” and a consensus target price of $30.22.
Fossil Group (NASDAQ:FOSL) opened at 28.07 on Tuesday. The company has a market capitalization of $1.35 billion, a P/E ratio of 13.67 and a beta of 1.66. The firm’s 50-day moving average is $28.07 and its 200-day moving average is $29.80. Fossil Group has a 1-year low of $23.10 and a 1-year high of $52.73.
Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The company earned $738 million during the quarter, compared to analysts’ expectations of $739.12 million. Fossil Group had a return on equity of 12.56% and a net margin of 3.24%. Fossil Group’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 EPS. Equities research analysts predict that Fossil Group will post $1.63 EPS for the current year.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its stake in Fossil Group by 115.6% in the first quarter. BlackRock Fund Advisors now owns 1,388,760 shares of the company’s stock worth $61,689,000 after buying an additional 744,537 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Fossil Group by 7.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,205,338 shares of the company’s stock worth $53,541,000 after buying an additional 79,683 shares in the last quarter. JPMorgan Chase & Co. increased its position in Fossil Group by 7.4% in the first quarter. JPMorgan Chase & Co. now owns 95,732 shares of the company’s stock worth $4,253,000 after buying an additional 6,569 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Fossil Group during the first quarter worth $986,000. Finally, GSA Capital Partners LLP increased its position in Fossil Group by 8.8% in the second quarter. GSA Capital Partners LLP now owns 7,800 shares of the company’s stock worth $223,000 after buying an additional 633 shares in the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.
Fossil Group Company Profile
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments are Americas, Europe and Asia. Each segment includes sales to wholesale and distributor customers, and sales through the Company-owned retail stores and e-commerce activities based on the location of the selling entity.
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