Fossil Group (FOSL) Downgraded to Underperform at Buckingham Research

Fossil Group (NASDAQ:FOSL) was downgraded by stock analysts at Buckingham Research from a “neutral” rating to an “underperform” rating in a note issued to investors on Friday, The Fly reports.

A number of other brokerages also recently weighed in on FOSL. Piper Jaffray Companies set a $10.00 target price on Fossil Group and gave the stock a “hold” rating in a report on Thursday, October 12th. Zacks Investment Research downgraded Fossil Group from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Bank of America lowered their target price on Fossil Group from $7.00 to $4.00 and set an “underperform” rating for the company in a report on Wednesday, November 8th. Finally, ValuEngine downgraded Fossil Group from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $11.35.

Fossil Group (NASDAQ:FOSL) opened at $8.40 on Friday. The company has a quick ratio of 1.09, a current ratio of 2.32 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $407.63, a P/E ratio of -1.17 and a beta of 0.75. Fossil Group has a 12 month low of $5.50 and a 12 month high of $27.33.

Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings data on Tuesday, November 7th. The accessories brand company reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.32. The company had revenue of $689.00 million for the quarter, compared to analyst estimates of $649.87 million. Fossil Group had a positive return on equity of 4.75% and a negative net margin of 12.33%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 earnings per share. analysts predict that Fossil Group will post -0.22 EPS for the current year.

In related news, EVP Martin Frey purchased 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was acquired at an average price of $7.41 per share, for a total transaction of $55,575.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregory A. Mckelvey purchased 110,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were bought at an average price of $6.22 per share, with a total value of $684,200.00. The disclosure for this purchase can be found here. Insiders own 12.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC grew its holdings in Fossil Group by 0.4% during the second quarter. FMR LLC now owns 7,269,630 shares of the accessories brand company’s stock worth $75,241,000 after buying an additional 32,068 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Fossil Group by 3,915.2% in the second quarter. JPMorgan Chase & Co. now owns 2,514,634 shares of the accessories brand company’s stock worth $26,027,000 after purchasing an additional 2,452,006 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Fossil Group by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,043,074 shares of the accessories brand company’s stock worth $21,146,000 after purchasing an additional 296,119 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Fossil Group by 6,109.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,273,027 shares of the accessories brand company’s stock worth $13,176,000 after purchasing an additional 1,252,527 shares during the last quarter. Finally, State Street Corp boosted its position in Fossil Group by 2.3% in the second quarter. State Street Corp now owns 1,131,401 shares of the accessories brand company’s stock worth $11,705,000 after purchasing an additional 25,792 shares during the last quarter. Institutional investors and hedge funds own 91.83% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Fossil Group (NASDAQ:FOSL)

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