ValuEngine downgraded shares of Fossil Group (NASDAQ:FOSL) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday, ValuEngine reports.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Fossil Group from a sell rating to a hold rating in a report on Tuesday, April 16th. BidaskClub raised shares of Fossil Group from a sell rating to a hold rating in a report on Thursday, August 1st. Finally, Telsey Advisory Group reissued a market perform rating and issued a $12.00 price target (down previously from $15.00) on shares of Fossil Group in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company has a consensus rating of Hold and an average price target of $14.00.

Shares of NASDAQ:FOSL opened at $9.42 on Tuesday. The stock has a market cap of $503.71 million, a PE ratio of 12.08 and a beta of 0.54. Fossil Group has a 52 week low of $9.00 and a 52 week high of $26.89. The company has a quick ratio of 1.05, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. The company’s fifty day moving average is $10.58 and its 200 day moving average is $12.74.

Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings results on Wednesday, August 7th. The accessories brand company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $501.40 million for the quarter, compared to analyst estimates of $499.05 million. Fossil Group had a net margin of 1.40% and a return on equity of 6.94%. The company’s revenue was down 13.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.16) EPS. Sell-side analysts anticipate that Fossil Group will post 1.49 EPS for the current year.

In other news, EVP Martin Frey purchased 5,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were acquired at an average price of $9.70 per share, with a total value of $48,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.00% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in FOSL. Marshall Wace North America L.P. bought a new stake in shares of Fossil Group during the 1st quarter valued at about $26,000. US Bancorp DE boosted its stake in shares of Fossil Group by 523.7% during the 2nd quarter. US Bancorp DE now owns 2,551 shares of the accessories brand company’s stock valued at $29,000 after purchasing an additional 2,142 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Fossil Group during the 2nd quarter valued at about $30,000. Bank of Montreal Can bought a new stake in shares of Fossil Group during the 2nd quarter valued at about $45,000. Finally, Flinton Capital Management LLC boosted its stake in shares of Fossil Group by 22.8% during the 2nd quarter. Flinton Capital Management LLC now owns 6,032 shares of the accessories brand company’s stock valued at $69,000 after purchasing an additional 1,120 shares in the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

About Fossil Group

Fossil Group, Inc designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. Its principal products include men's and women's fashion watches and jewelry, smartwatches, handbags, small leather goods, belts, and sunglasses.

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