Fossil Group, Inc. (FOSL) Receives Consensus Rating of “Hold” from Brokerages
Fossil Group, Inc. (NASDAQ:FOSL) has been assigned an average recommendation of “Hold” from the twenty analysts that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $18.42.
A number of equities research analysts have weighed in on the company. Cowen and Company cut their target price on Fossil Group from $15.00 to $12.00 and set a “market perform” rating for the company in a research report on Wednesday, May 10th. Telsey Advisory Group dropped their price target on Fossil Group from $23.00 to $16.00 and set a “market perform” rating on the stock in a report on Wednesday, May 10th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $19.00 price target on shares of Fossil Group in a report on Tuesday, May 2nd. Zacks Investment Research raised Fossil Group from a “strong sell” rating to a “hold” rating in a report on Monday, May 8th. Finally, Vetr cut Fossil Group from a “strong-buy” rating to a “buy” rating and set a $18.50 price target on the stock. in a report on Monday, April 17th.
Fossil Group (NASDAQ FOSL) traded up 5.71% during trading on Tuesday, reaching $11.84. The company had a trading volume of 5,403,546 shares. The company has a 50-day moving average of $10.31 and a 200-day moving average of $15.66. The firm has a market capitalization of $573.81 million, a P/E ratio of 23.22 and a beta of 0.73. Fossil Group has a 52-week low of $8.98 and a 52-week high of $36.87.
Fossil Group (NASDAQ:FOSL) last released its earnings results on Tuesday, May 9th. The accessories brand company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.14. The firm had revenue of $582 million during the quarter, compared to analyst estimates of $590.51 million. Fossil Group had a return on equity of 7.59% and a net margin of 0.84%. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share. Analysts expect that Fossil Group will post $0.87 EPS for the current fiscal year.
In other news, Chairman Kosta N. Kartsotis sold 520,281 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $10.71, for a total value of $5,572,209.51. Following the transaction, the chairman now directly owns 3,445,546 shares of the company’s stock, valued at $36,901,797.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $11.29, for a total transaction of $12,136,750.00. Following the completion of the transaction, the chairman now directly owns 4,183,047 shares in the company, valued at $47,226,600.63. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,220,281 shares of company stock worth $23,790,210. Company insiders own 12.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of FOSL. Renaissance Technologies LLC bought a new position in Fossil Group during the fourth quarter worth $217,000. Acadian Asset Management LLC bought a new position in Fossil Group during the second quarter worth $113,000. Koch Industries Inc. bought a new position in Fossil Group during the first quarter worth $196,000. Wayne Hummer Investments L.L.C. bought a new position in Fossil Group during the first quarter worth $205,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Fossil Group during the second quarter worth $122,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.
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Fossil Group Company Profile
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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