Fossil Group Inc. (FOSL) Upgraded by Pacific Crest to “Overweight”
Pacific Crest upgraded shares of Fossil Group Inc. (NASDAQ:FOSL) from an underweight rating to an overweight rating in a report published on Wednesday. They currently have $42.00 price objective on the stock.
A number of other brokerages have also issued reports on FOSL. KeyCorp upgraded Fossil Group from a sector weight rating to an overweight rating in a research note on Wednesday. Piper Jaffray Cos. restated an underweight rating and issued a $25.00 target price on shares of Fossil Group in a research note on Saturday, August 13th. Nomura cut their price target on Fossil Group from $25.00 to $23.00 and set a neutral rating on the stock in a research report on Wednesday, August 10th. Cowen and Company reaffirmed a market perform rating and set a $30.00 price target on shares of Fossil Group in a research report on Wednesday, August 10th. Finally, Mizuho increased their price target on Fossil Group from $27.00 to $29.00 and gave the stock a neutral rating in a research report on Wednesday, August 10th. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $29.41.
Fossil Group (NASDAQ:FOSL) traded down 2.10% during mid-day trading on Wednesday, reaching $34.95. The company’s stock had a trading volume of 548,721 shares. The company has a market capitalization of $1682.25 billion, a price-to-earnings ratio of 17.05 and a beta of 1.66. The stock has a 50-day moving average price of $28.57 and a 200-day moving average price of $29.50. Fossil Group has a one year low of $23.10 and a one year high of $51.93.
Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.31 by $0.05. Fossil Group had a return on equity of 12.56% and a net margin of 3.24%. The firm earned $738 million during the quarter, compared to analyst estimates of $739.12 million. During the same quarter in the prior year, the business posted $1.19 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts forecast that Fossil Group will post $1.63 EPS for the current year.
Hedge funds have recently modified their holdings of the stock. Vulcan Value Partners LLC increased its stake in shares of Fossil Group by 4.1% in the second quarter. Vulcan Value Partners LLC now owns 11,611,725 shares of the company’s stock valued at $331,283,000 after buying an additional 459,907 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Fossil Group by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 2,958,131 shares of the company’s stock valued at $84,395,000 after buying an additional 17,464 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Fossil Group by 5.3% in the second quarter. Vanguard Group Inc. now owns 2,949,371 shares of the company’s stock valued at $84,146,000 after buying an additional 149,439 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Fossil Group by 6.8% in the third quarter. BlackRock Fund Advisors now owns 2,204,564 shares of the company’s stock valued at $61,221,000 after buying an additional 140,040 shares in the last quarter. Finally, Eminence Capital LP increased its stake in shares of Fossil Group by 19.8% in the second quarter. Eminence Capital LP now owns 2,136,408 shares of the company’s stock valued at $60,952,000 after buying an additional 352,570 shares in the last quarter. Hedge funds and other institutional investors own 97.33% of the company’s stock.
About Fossil Group
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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