Fossil Group, Inc. (FOSL) Given Consensus Recommendation of “Hold” by Brokerages
Fossil Group, Inc. (NASDAQ:FOSL) has been given an average recommendation of “Hold” by the twenty-one ratings firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $16.18.
A number of research firms have recently commented on FOSL. Zacks Investment Research raised shares of Fossil Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Piper Jaffray Companies set a $10.00 price objective on shares of Fossil Group and gave the company a “hold” rating in a research note on Thursday, October 12th. Wells Fargo & Company reaffirmed an “underperform” rating and issued a $7.00 price objective (down from $8.00) on shares of Fossil Group in a research note on Thursday, August 10th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Fossil Group in a research note on Wednesday, August 9th. Finally, Buckingham Research reduced their price objective on shares of Fossil Group from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 9th.
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In other Fossil Group news, VP John A. White acquired 13,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average cost of $7.26 per share, with a total value of $94,380.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James M. Zimmerman acquired 36,000 shares of the company’s stock in a transaction on Friday, August 25th. The stock was acquired at an average cost of $8.30 per share, for a total transaction of $298,800.00. The disclosure for this purchase can be found here. Insiders acquired 114,945 shares of company stock worth $923,917 over the last ninety days. Insiders own 12.80% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in FOSL. Wells Fargo & Company MN lifted its stake in shares of Fossil Group by 1.9% in the first quarter. Wells Fargo & Company MN now owns 31,572 shares of the accessories brand company’s stock valued at $551,000 after buying an additional 586 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Fossil Group by 10.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 28,132 shares of the accessories brand company’s stock valued at $491,000 after purchasing an additional 2,615 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Fossil Group by 7.3% in the first quarter. Bank of New York Mellon Corp now owns 561,584 shares of the accessories brand company’s stock valued at $9,798,000 after purchasing an additional 38,082 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Fossil Group by 37.7% in the first quarter. UBS Asset Management Americas Inc. now owns 28,194 shares of the accessories brand company’s stock valued at $492,000 after purchasing an additional 7,725 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of Fossil Group in the first quarter valued at about $343,000.
Shares of Fossil Group (FOSL) traded up 3.25% during trading on Friday, hitting $9.21. 1,010,516 shares of the stock were exchanged. Fossil Group has a 52 week low of $6.80 and a 52 week high of $36.87. The stock’s market cap is $446.88 million. The firm’s 50 day moving average price is $8.79 and its 200-day moving average price is $11.13.
Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings data on Tuesday, August 8th. The accessories brand company reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.05. Fossil Group had a negative net margin of 11.33% and a positive return on equity of 6.34%. The company had revenue of $596.80 million for the quarter, compared to analyst estimates of $617.89 million. During the same period in the prior year, the firm posted $0.12 EPS. The company’s quarterly revenue was down 12.9% on a year-over-year basis. On average, analysts predict that Fossil Group will post ($0.11) EPS for the current year.
About Fossil Group
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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