Fossil Group (FOSL) Lowered to “Sell” at BidaskClub

BidaskClub lowered shares of Fossil Group (NASDAQ:FOSL) from a hold rating to a sell rating in a research report sent to investors on Wednesday, April 3rd, BidAskClub reports.

FOSL has been the topic of several other research reports. ValuEngine raised Fossil Group from a sell rating to a hold rating in a research report on Wednesday, January 2nd. Telsey Advisory Group reiterated a market perform rating and set a $17.00 target price on shares of Fossil Group in a research note on Thursday, February 14th. Zacks Investment Research downgraded Fossil Group from a hold rating to a strong sell rating in a research note on Monday, February 18th. TheStreet downgraded Fossil Group from a c- rating to a d+ rating in a research note on Monday, December 10th. Finally, Wells Fargo & Co reduced their target price on Fossil Group from $14.00 to $8.00 and set an underperform rating for the company in a research note on Thursday, February 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $20.00.

Fossil Group stock traded down $0.23 during midday trading on Wednesday, reaching $13.15. The stock had a trading volume of 788,095 shares, compared to its average volume of 1,653,241. Fossil Group has a 1-year low of $12.60 and a 1-year high of $32.17. The firm has a market cap of $665.94 million, a PE ratio of 16.86 and a beta of 0.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.45 and a current ratio of 2.08.

Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings results on Wednesday, February 13th. The accessories brand company reported $1.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.26). The company had revenue of $786.90 million for the quarter, compared to analyst estimates of $805.17 million. Fossil Group had a positive return on equity of 3.86% and a negative net margin of 0.14%. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period last year, the firm earned $0.64 EPS. As a group, equities research analysts predict that Fossil Group will post 0.64 EPS for the current year.

In related news, Chairman Kosta N. Kartsotis sold 50,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $15.92, for a total value of $796,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gregory A. Mckelvey sold 249,940 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $14.64, for a total value of $3,659,121.60. The disclosure for this sale can be found here. 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. Oppenheimer Asset Management Inc. acquired a new position in Fossil Group in the 4th quarter valued at $27,000. Mercer Global Advisors Inc. ADV acquired a new position in Fossil Group in the 1st quarter valued at $141,000. Palo Capital Inc. acquired a new position in Fossil Group in the 3rd quarter valued at $156,000. BNP Paribas Arbitrage SA raised its holdings in Fossil Group by 154.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,786 shares of the accessories brand company’s stock valued at $162,000 after acquiring an additional 7,154 shares in the last quarter. Finally, United Services Automobile Association raised its holdings in shares of Fossil Group by 9.3% during the 4th quarter. United Services Automobile Association now owns 11,045 shares of the accessories brand company’s stock worth $174,000 after buying an additional 943 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Fossil Group Company Profile

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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