Piper Jaffray Cos. Reiterates $25.00 Price Target for Fossil Group Inc. (FOSL)
Fossil Group Inc. (NASDAQ:FOSL) has been given a $25.00 target price by Piper Jaffray Cos. in a report issued on Tuesday. The brokerage currently has a a “sell” rating on the stock. Piper Jaffray Cos.’s price target indicates a potential downside of 10.49% from the stock’s previous close.
FOSL has been the topic of several other research reports. Zacks Investment Research upgraded shares of Fossil Group from a “sell” rating to a “hold” rating in a report on Tuesday, September 6th. Nomura cut their price objective on shares of Fossil Group from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Wednesday, August 10th. Mizuho boosted their price objective on shares of Fossil Group from $27.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, August 10th. Jefferies Group reiterated a “hold” rating on shares of Fossil Group in a report on Monday, September 12th. Finally, TheStreet lowered shares of Fossil Group from a “hold” rating to a “sell” rating in a report on Tuesday, June 7th. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $30.89.
Fossil Group (NASDAQ:FOSL) traded up 2.7171% during trading on Tuesday, hitting $28.6889. The company had a trading volume of 867,553 shares. The company’s 50 day moving average price is $29.49 and its 200-day moving average price is $33.70. The company has a market cap of $1.38 billion, a PE ratio of 9.9235 and a beta of 1.89. Fossil Group has a 12 month low of $26.03 and a 12 month high of $58.95.
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Fossil Group (NASDAQ:FOSL) last posted its earnings results on Tuesday, August 9th. The company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.03. The business had revenue of $685 million for the quarter, compared to analyst estimates of $670.97 million. Fossil Group had a net margin of 4.49% and a return on equity of 16.91%. The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 EPS. Equities analysts expect that Fossil Group will post $1.87 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors boosted its position in Fossil Group by 115.6% in the first quarter. BlackRock Fund Advisors now owns 1,388,760 shares of the company’s stock valued at $61,689,000 after buying an additional 744,537 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Fossil Group by 7.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,205,338 shares of the company’s stock valued at $53,541,000 after buying an additional 79,683 shares during the period. Texas Permanent School Fund boosted its position in Fossil Group by 126.7% in the first quarter. Texas Permanent School Fund now owns 33,094 shares of the company’s stock valued at $1,470,000 after buying an additional 18,498 shares during the period. JPMorgan Chase & Co. boosted its position in Fossil Group by 7.4% in the first quarter. JPMorgan Chase & Co. now owns 95,732 shares of the company’s stock valued at $4,253,000 after buying an additional 6,569 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Fossil Group during the first quarter valued at approximately $986,000. Hedge funds and other institutional investors own 95.52% 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 are 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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