Fossil Group Inc. (FOSL) Rating Increased to Neutral at Piper Jaffray Cos.
Fossil Group Inc. (NASDAQ:FOSL) was upgraded by investment analysts at Piper Jaffray Cos. from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday.
Several other research analysts have also recently weighed in on the company. Pacific Crest upgraded Fossil Group from an “underweight” rating to an “overweight” rating and set a $42.00 target price on the stock in a report on Wednesday, November 16th. KeyCorp upgraded Fossil Group from a “sector weight” rating to an “overweight” rating and set a $42.00 target price on the stock in a report on Wednesday, November 16th. Zacks Investment Research cut Fossil Group from a “buy” rating to a “hold” rating in a report on Monday, November 7th. Cowen and Company restated a “market perform” rating and set a $25.00 target price (down from $30.00) on shares of Fossil Group in a report on Friday, November 4th. Finally, Jefferies Group restated a “hold” rating and set a $24.00 target price (down from $29.00) on shares of Fossil Group in a report on Friday, November 4th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $30.15.
Fossil Group (NASDAQ:FOSL) opened at 34.33 on Monday. Fossil Group has a 52 week low of $23.10 and a 52 week high of $51.93. The company has a market cap of $1.65 billion, a PE ratio of 16.71 and a beta of 1.66. The company has a 50-day moving average price of $28.94 and a 200 day moving average price of $29.50.
Fossil Group (NASDAQ:FOSL) last issued its earnings results on Thursday, November 3rd. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.05. The business had revenue of $738 million for 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%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 EPS. On average, equities research analysts forecast that Fossil Group will post $1.68 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Teachers Advisors LLC increased 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 worth $33,035,000 after buying an additional 1,123,022 shares during the last quarter. BlackRock Fund Advisors increased its position 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 during the last quarter. UBS Oconnor LLC purchased a new position in shares of Fossil Group during the second quarter worth approximately $13,506,000. Vulcan Value Partners LLC increased its position 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 during the last quarter. Finally, Scopia Capital Management LP purchased a new position in shares of Fossil Group during the third quarter worth approximately $10,995,000. Hedge funds and other institutional investors own 99.88% 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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