Several other equities research analysts have also recently commented on the company. ValuEngine cut Fossil Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 13th. Telsey Advisory Group reissued a “market perform” rating and set a $12.00 target price (down previously from $15.00) on shares of Fossil Group in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.00.
Fossil Group stock traded up $0.53 during midday trading on Wednesday, hitting $11.13. 989,818 shares of the company were exchanged, compared to its average volume of 1,225,061. The firm has a market capitalization of $538.03 million, a PE ratio of 14.26 and a beta of 0.44. The business has a fifty day simple moving average of $12.16 and a two-hundred day simple moving average of $11.83. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.05 and a current ratio of 1.92. Fossil Group has a fifty-two week low of $9.00 and a fifty-two week high of $24.28.
Fossil Group (NASDAQ:FOSL) last released its earnings results on Wednesday, August 7th. The accessories brand company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03. Fossil Group had a return on equity of 6.94% and a net margin of 1.40%. The business had revenue of $501.40 million for the quarter, compared to the consensus estimate of $499.05 million. During the same quarter last year, the business posted ($0.16) earnings per share. The business’s quarterly revenue was down 13.0% compared to the same quarter last year. As a group, equities analysts expect that Fossil Group will post 1.49 earnings per share for the current year.
In related news, insider Darren E. Hart bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was purchased at an average cost of $10.03 per share, for a total transaction of $200,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory A. Mckelvey bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average price of $9.86 per share, with a total value of $986,000.00. Following the completion of the acquisition, the executive vice president now owns 432,093 shares of the company’s stock, valued at approximately $4,260,436.98. The disclosure for this purchase can be found here. Insiders bought 153,600 shares of company stock valued at $1,529,992 over the last ninety days. Insiders own 8.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in Fossil Group by 10.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,715,698 shares of the accessories brand company’s stock worth $26,989,000 after buying an additional 169,086 shares during the last quarter. Quantamental Technologies LLC lifted its holdings in shares of Fossil Group by 458.7% in the 2nd quarter. Quantamental Technologies LLC now owns 7,828 shares of the accessories brand company’s stock valued at $90,000 after purchasing an additional 6,427 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Fossil Group by 60.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 18,954 shares of the accessories brand company’s stock valued at $218,000 after purchasing an additional 7,168 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Fossil Group by 22.2% in the 2nd quarter. Pacer Advisors Inc. now owns 79,497 shares of the accessories brand company’s stock valued at $914,000 after purchasing an additional 14,450 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Fossil Group by 567.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,572,406 shares of the accessories brand company’s stock valued at $21,574,000 after purchasing an additional 1,336,698 shares during the last quarter.
About Fossil Group
Fossil Group, Inc designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. Its principal products include men's and women's fashion watches and jewelry, smartwatches, handbags, small leather goods, belts, and sunglasses.
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