Fossil Group (FOSL) Lifted to Buy at BidaskClub
BidaskClub upgraded shares of Fossil Group (NASDAQ:FOSL) from a hold rating to a buy rating in a research report released on Tuesday.
A number of other equities analysts also recently commented on FOSL. Zacks Investment Research raised shares of Fossil Group from a hold rating to a buy rating and set a $11.00 price objective for the company in a report on Tuesday. ValuEngine downgraded shares of Fossil Group from a buy rating to a hold rating in a report on Thursday, November 9th. Buckingham Research downgraded shares of Fossil Group from a neutral rating to an underperform rating in a report on Friday, January 5th. Bank of America reduced their price objective on shares of Fossil Group from $7.00 to $4.00 and set an underperform rating for the company in a report on Wednesday, November 8th. Finally, Piper Jaffray Companies set a $10.00 price objective on shares of Fossil Group and gave the stock a hold rating in a report on Thursday, October 12th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Fossil Group has an average rating of Hold and a consensus price target of $11.27.
Fossil Group (NASDAQ FOSL) traded down $0.21 during trading hours on Tuesday, hitting $9.17. 2,353,600 shares of the stock were exchanged, compared to its average volume of 1,738,450. The company has a market cap of $469.26, a P/E ratio of -1.28 and a beta of 0.75. Fossil Group has a one year low of $5.50 and a one year high of $26.78. The company has a quick ratio of 1.09, a current ratio of 2.32 and a debt-to-equity ratio of 0.68.
In related news, EVP Martin Frey acquired 7,500 shares of the stock in a transaction on Wednesday, November 22nd. The stock was purchased at an average price of $7.41 per share, for a total transaction of $55,575.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gregory A. Mckelvey acquired 110,000 shares of the stock in a transaction on Friday, November 10th. The stock was bought at an average price of $6.22 per share, with a total value of $684,200.00. The disclosure for this purchase can be found here. Company insiders own 12.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC increased its position in Fossil Group by 0.4% in the 2nd quarter. FMR LLC now owns 7,269,630 shares of the accessories brand company’s stock valued at $75,241,000 after acquiring an additional 32,068 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Fossil Group by 3,915.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,514,634 shares of the accessories brand company’s stock worth $26,027,000 after buying an additional 2,452,006 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Fossil Group by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,043,074 shares of the accessories brand company’s stock worth $21,146,000 after buying an additional 296,119 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Fossil Group by 6,109.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,273,027 shares of the accessories brand company’s stock worth $13,176,000 after buying an additional 1,252,527 shares during the period. Finally, State Street Corp grew its position in shares of Fossil Group by 2.3% during the 2nd quarter. State Street Corp now owns 1,131,401 shares of the accessories brand company’s stock worth $11,705,000 after buying an additional 25,792 shares during the period. Hedge funds and other institutional investors own 91.83% 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 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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