Fossil Group Stock Rating Reaffirmed by Zacks (FOSL)
Fossil Group (NASDAQ:FOSL)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Friday. They currently have a $113.00 price target on the stock. Zacks‘s target price suggests a potential upside of 4.73% from the company’s current price.
Zacks’ analyst wrote, “Fossil’s first quarter 2014 earnings of $1.22 per share beat the Zacks Consensus Estimate by 2.5% and the year-ago earnings by 10.9%. The earnings upside was aided by strong top-line growth, increased operating income and lower share count. Net sales increased 14% year over year and also exceeded the Zacks Consensus Estimate driven by continued growth in the watch portfolio, driven by Fossil and Skagen brands and favorable currency translation. Overall, we are encouraged by Fossil’s acquisition of Skagen, which has further strengthened the company’s watch portfolio. The company targets further expansion of the Fossil brand in 2014 and intends to develop exciting new watch and jewelry designs, improve leather assortment and focus on increasing brand awareness. However, high promotional activity, increased competition from Apple’s smart watches and a sluggish leather business are expected to weigh down on second quarter results. We thus maintain a Neutral recommendation on the stock. “
A number of other analysts have also recently weighed in on FOSL. Analysts at Brean Capital upgraded shares of Fossil Group from a “sell” rating to a “hold” rating in a research note on Monday, May 19th. They noted that the move was a valuation call. Separately, analysts at Credit Agricole upgraded shares of Fossil Group from an “outperform” rating to a “buy” rating in a research note on Wednesday, May 14th. Finally, analysts at Telsey Advisory Group cut their price target on shares of Fossil Group from $140.00 to $136.00 in a research note on Wednesday, May 14th. They now have a “not rated” rating on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Fossil Group has an average rating of “Hold” and an average target price of $123.71.
Shares of Fossil Group (NASDAQ:FOSL) traded up 2.28% on Friday, hitting $107.90. The stock had a trading volume of 405,533 shares. Fossil Group has a 52 week low of $98.53 and a 52 week high of $134.99. The stock’s 50-day moving average is $104.5 and its 200-day moving average is $112.. The company has a market cap of $5.774 billion and a P/E ratio of 15.96.
Fossil Group (NASDAQ:FOSL) last announced its earnings results on Tuesday, May 13th. The company reported $1.22 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.17 by $0.05. The company had revenue of $776.50 million for the quarter, compared to the consensus estimate of $771.55 million. During the same quarter in the prior year, the company posted $1.21 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts predict that Fossil Group will post $7.13 earnings per share for the current fiscal year.
Fossil Group, Inc, formerly Fossil, Inc, a global designer, marketer and distributer company that specializes in consumer fashion accessories.
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