Wells Fargo & Company reiterated their underperform rating on shares of Fossil Group, Inc. (NASDAQ:FOSL) in a research note published on Thursday. They currently have a $7.00 price target on the accessories brand company’s stock, down from their prior price target of $8.00.

A number of other research firms have also recently commented on FOSL. Buckingham Research raised Fossil Group from an underperform rating to a neutral rating in a report on Tuesday, June 20th. ValuEngine cut Fossil Group from a buy rating to a hold rating in a report on Friday, June 2nd. Vetr cut Fossil Group from a strong-buy rating to a buy rating and set a $18.50 price target on the stock. in a report on Monday, April 17th. TheStreet cut Fossil Group from a c- rating to a d+ rating in a report on Thursday, May 11th. Finally, Zacks Investment Research raised Fossil Group from a strong sell rating to a hold rating in a report on Monday, May 8th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $16.23.

Shares of Fossil Group (FOSL) opened at 8.20 on Thursday. The company’s market capitalization is $397.70 million. Fossil Group has a 1-year low of $7.92 and a 1-year high of $36.87. The company’s 50 day moving average price is $10.38 and its 200-day moving average price is $15.12.

Fossil Group (NASDAQ:FOSL) last released its earnings results on Tuesday, August 8th. The accessories brand company reported ($0.23) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.05. The company had revenue of $596.80 million for the quarter, compared to the consensus estimate of $617.89 million. Fossil Group had a positive return on equity of 6.34% and a negative net margin of 11.33%. Fossil Group’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 earnings per share. On average, equities analysts forecast that Fossil Group will post $0.47 earnings per share for the current year.

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In related news, Chairman Kosta N. Kartsotis sold 520,281 shares of Fossil Group stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $10.71, for a total value of $5,572,209.51. Following the completion of the transaction, the chairman now owns 3,445,546 shares in the company, valued at $36,901,797.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Kosta N. Kartsotis sold 625,000 shares of Fossil Group stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $9.73, for a total value of $6,081,250.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,220,281 shares of company stock valued at $23,790,210. 12.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FOSL. Louisiana State Employees Retirement System raised its position 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 in the last quarter. Arizona State Retirement System raised its position in Fossil Group by 0.5% in the second quarter. Arizona State Retirement System now owns 22,000 shares of the accessories brand company’s stock valued at $228,000 after buying an additional 100 shares in the last quarter. Texas Permanent School Fund raised its position in Fossil Group by 1.2% in the second quarter. Texas Permanent School Fund now owns 30,784 shares of the accessories brand company’s stock valued at $319,000 after buying an additional 379 shares in the last quarter. Sather Financial Group Inc raised its position in Fossil Group by 1.0% in the first quarter. Sather Financial Group Inc now owns 50,900 shares of the accessories brand company’s stock valued at $888,000 after buying an additional 500 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Fossil Group by 1.9% in the first quarter. Wells Fargo & Company MN now owns 31,572 shares of the accessories brand company’s stock valued at $551,000 after buying an additional 586 shares in the last quarter. Institutional investors own 97.21% 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 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.

Analyst Recommendations for Fossil Group (NASDAQ:FOSL)

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