Fossil Group (NASDAQ:FOSL) Upgraded to Sell by ValuEngine

ValuEngine upgraded shares of Fossil Group (NASDAQ:FOSL) from a strong sell rating to a sell rating in a research note published on Friday, ValuEngine reports.

FOSL has been the subject of a number of other reports. BidaskClub raised Zebra Technologies from a hold rating to a buy rating in a research note on Saturday, July 6th. Zacks Investment Research cut Great Portland Estates from a hold rating to a sell rating in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Fossil Group presently has an average rating of Hold and an average target price of $20.00.

Fossil Group stock opened at $11.31 on Friday. The stock has a market cap of $571.36 million, a PE ratio of 14.50 and a beta of 0.55. The stock’s 50-day moving average is $10.84. Fossil Group has a 52 week low of $9.46 and a 52 week high of $29.59. The company has a current ratio of 1.99, a quick ratio of 1.22 and a debt-to-equity ratio of 0.86.

Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings results on Wednesday, May 8th. The accessories brand company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.11. The company had revenue of $465.30 million during the quarter, compared to analysts’ expectations of $453.97 million. Fossil Group had a return on equity of 8.88% and a net margin of 1.34%. The firm’s revenue was down 18.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.99) EPS. Equities research analysts predict that Fossil Group will post 0.55 EPS for the current fiscal year.

In other Fossil Group news, EVP Martin Frey bought 5,000 shares of Fossil Group stock in a transaction on Friday, May 31st. The shares were purchased at an average cost of $9.70 per share, for a total transaction of $48,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 8.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund acquired a new position in Fossil Group during the 4th quarter worth approximately $272,000. Prudential Financial Inc. raised its position in shares of Fossil Group by 2.2% in the 4th quarter. Prudential Financial Inc. now owns 96,438 shares of the accessories brand company’s stock valued at $1,517,000 after purchasing an additional 2,078 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of Fossil Group in the 4th quarter valued at approximately $2,315,000. New York State Common Retirement Fund raised its position in shares of Fossil Group by 11.4% in the 4th quarter. New York State Common Retirement Fund now owns 82,381 shares of the accessories brand company’s stock valued at $1,296,000 after purchasing an additional 8,455 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Fossil Group by 1.4% in the 4th quarter. BlackRock Inc. now owns 6,665,046 shares of the accessories brand company’s stock valued at $104,842,000 after purchasing an additional 93,411 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

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.

Further Reading: Diluted Earnings Per Share

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