Fossil Group (FOSL) Lowered to “Hold” at BidaskClub
BidaskClub lowered shares of Fossil Group (NASDAQ:FOSL) from a buy rating to a hold rating in a research report report published on Thursday.
FOSL has been the topic of a number of other research reports. KeyCorp lifted their target price on shares of Fossil Group from $25.00 to $32.00 and gave the company an overweight rating in a research note on Monday, June 4th. ValuEngine cut shares of Fossil Group from a buy rating to a hold rating in a research note on Thursday, July 12th. Zacks Investment Research downgraded shares of Fossil Group from a buy rating to a hold rating in a report on Friday, August 3rd. TheStreet upgraded shares of Fossil Group from a d rating to a c- rating in a report on Wednesday, August 8th. Finally, Telsey Advisory Group lifted their price target on shares of Fossil Group from $16.00 to $27.00 and gave the company a market perform rating in a report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $17.33.
FOSL opened at $23.33 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 2.11. Fossil Group has a fifty-two week low of $5.50 and a fifty-two week high of $32.17. The firm has a market cap of $1.19 billion, a P/E ratio of 466.60 and a beta of -0.11.
In other Fossil Group news, insider Gregory A. Mckelvey sold 26,138 shares of Fossil Group stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $26.00, for a total value of $679,588.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Darren E. Hart sold 25,662 shares of Fossil Group stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $26.30, for a total transaction of $674,910.60. Following the completion of the sale, the executive vice president now owns 116,325 shares in the company, valued at $3,059,347.50. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers increased its holdings in shares of Fossil Group by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 111,944 shares of the accessories brand company’s stock worth $3,008,000 after buying an additional 2,584 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Fossil Group by 0.6% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 534,805 shares of the accessories brand company’s stock worth $14,370,000 after buying an additional 3,318 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Fossil Group by 10.1% in the 1st quarter. New York State Common Retirement Fund now owns 47,800 shares of the accessories brand company’s stock worth $607,000 after buying an additional 4,400 shares during the last quarter. Swiss National Bank increased its holdings in shares of Fossil Group by 6.9% in the 1st quarter. Swiss National Bank now owns 76,041 shares of the accessories brand company’s stock worth $966,000 after buying an additional 4,900 shares during the last quarter. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Fossil Group in the 2nd quarter worth about $207,000. Institutional investors own 88.89% of the company’s stock.
About Fossil Group
Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories. The company's principal products include a line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, and sunglasses. It offers its products under its proprietary brands, such as FOSSIL, MICHELE, MISFIT, RELIC, SKAGEN, and ZODIAC, as well as under the licensed brands, including ARMANI EXCHANGE, CHAPS, DIESEL, DKNY, EMPORIO ARMANI, KARL LAGERFELD, KATE SPADE NEW YORK, MARC JACOBS, MICHAEL KORS, and TORY BURCH.
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