Fossil Group, Inc. (NASDAQ:FOSL) Upgraded to “Hold” at BidaskClub
BidaskClub upgraded shares of Fossil Group, Inc. (NASDAQ:FOSL) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
A number of other research analysts have also issued reports on FOSL. Cowen and Company dropped their price target on shares of Fossil Group from $15.00 to $12.00 and set a market perform rating on the stock in a research note on Wednesday, May 10th. Telsey Advisory Group decreased their price objective on shares of Fossil Group from $23.00 to $16.00 and set a market perform rating on the stock in a report on Wednesday, May 10th. Jefferies Group LLC reissued a hold rating and set a $19.00 price objective on shares of Fossil Group in a report on Tuesday, May 2nd. Zacks Investment Research raised shares of Fossil Group from a strong sell rating to a hold rating in a report on Monday, May 8th. Finally, Vetr downgraded shares of Fossil Group from a strong-buy rating to a buy rating and set a $18.50 price objective on the stock. in a report on Monday, April 17th. Three 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’s stock. Fossil Group currently has an average rating of Hold and an average target price of $19.89.
Shares of Fossil Group (FOSL) traded up 3.70% during midday trading on Wednesday, hitting $10.93. The stock had a trading volume of 777,564 shares. The stock has a market cap of $529.71 million, a PE ratio of 21.43 and a beta of 0.71. Fossil Group has a 52-week low of $8.98 and a 52-week high of $36.87. The firm has a 50 day moving average price of $10.15 and a 200-day moving average price of $16.70.
Fossil Group (NASDAQ:FOSL) last released its quarterly earnings data on Tuesday, May 9th. The accessories brand company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.14. Fossil Group had a return on equity of 7.59% and a net margin of 0.84%. The firm had revenue of $582 million for the quarter, compared to analysts’ expectations of $590.51 million. During the same period last year, the firm posted $0.12 earnings per share. Fossil Group’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities analysts predict that Fossil Group will post $0.84 EPS for the current fiscal year.
In other news, Chairman Kosta N. Kartsotis sold 520,281 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $10.71, for a total value of $5,572,209.51. Following the completion of the sale, the chairman now owns 3,445,546 shares of the company’s stock, valued at $36,901,797.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $11.29, for a total transaction of $12,136,750.00. Following the completion of the sale, the chairman now directly owns 4,183,047 shares of the company’s stock, valued at approximately $47,226,600.63. The disclosure for this sale can be found here. Insiders have sold 2,220,281 shares of company stock valued at $23,790,210 in the last ninety days. 12.80% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its stake in Fossil Group by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the accessories brand company’s stock valued at $178,000 after buying an additional 100 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Fossil Group during the second quarter valued at about $373,000. Teachers Retirement System of The State of Kentucky raised its stake in Fossil Group by 71.8% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 14,600 shares of the accessories brand company’s stock valued at $255,000 after buying an additional 6,100 shares during the last quarter. Achmea Investment Management B.V. acquired a new stake in Fossil Group during the first quarter valued at about $1,124,000. Finally, HighTower Advisors LLC acquired a new stake in Fossil Group during the first quarter valued at about $1,212,000.
Fossil Group Company Profile
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments include 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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