Fossil Group Inc. (FOSL) Stock Rating Upgraded by KeyCorp
Fossil Group Inc. (NASDAQ:FOSL) was upgraded by investment analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday.
Several other analysts also recently commented on FOSL. Piper Jaffray Cos. reaffirmed an “underweight” rating and issued a $25.00 price objective on shares of Fossil Group in a report on Tuesday, July 26th. Mizuho upped their price objective on shares of Fossil Group from $27.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, August 10th. Cowen and Company reaffirmed a “market perform” rating and issued a $30.00 price objective on shares of Fossil Group in a report on Wednesday, August 10th. Nomura dropped their price objective on shares of Fossil Group from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Wednesday, August 10th. Finally, Zacks Investment Research raised shares of Fossil Group from a “sell” rating to a “hold” rating in a report on Tuesday, September 6th. Seven analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. Fossil Group presently has a consensus rating of “Hold” and an average price target of $29.41.
Shares of Fossil Group (NASDAQ:FOSL) opened at 34.85 on Wednesday. The firm has a 50-day moving average of $28.75 and a 200-day moving average of $29.53. Fossil Group has a one year low of $23.10 and a one year high of $51.93. The company has a market capitalization of $1.68 billion, a P/E ratio of 16.98 and a beta of 1.66.
Fossil Group (NASDAQ:FOSL) last released 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. The business had revenue of $738 million for the quarter, compared to the consensus estimate of $739.12 million. Fossil Group had a net margin of 3.24% and a return on equity of 12.56%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.19 EPS. Analysts forecast that Fossil Group will post $1.68 earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Teachers Advisors LLC raised its position in shares of Fossil Group by 1,687.3% in the third quarter. Teachers Advisors LLC now owns 1,189,580 shares of the company’s stock valued at $33,035,000 after buying an additional 1,123,022 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Fossil Group by 48.7% in the second quarter. BlackRock Fund Advisors now owns 2,064,524 shares of the company’s stock worth $58,901,000 after buying an additional 675,764 shares in the last quarter. UBS Oconnor LLC bought a new stake in shares of Fossil Group during the second quarter worth $13,506,000. Vulcan Value Partners LLC boosted 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 worth $331,283,000 after buying an additional 459,907 shares in the last quarter. Finally, Scopia Capital Management LP bought a new stake in shares of Fossil Group during the third quarter worth $10,995,000. 97.33% of the stock is owned by hedge funds and other institutional investors.
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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