Fossil Group (NASDAQ:FOSL) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Fossil Group (NASDAQ:FOSL) from a sell rating to a hold rating in a research note released on Thursday morning, BidAskClub reports.

FOSL has been the topic of a number of other research reports. ValuEngine raised shares of Fossil Group from a strong sell rating to a sell rating in a report on Thursday. Zacks Investment Research raised shares of Fossil Group from a sell rating to a hold rating in a report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $20.00.

Shares of FOSL traded down $0.29 during trading hours on Thursday, hitting $9.91. The stock had a trading volume of 1,214,683 shares, compared to its average volume of 1,460,253. The company’s fifty day moving average price is $10.81. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.99 and a quick ratio of 1.22. Fossil Group has a 52 week low of $9.46 and a 52 week high of $29.59. The stock has a market capitalization of $539.52 million, a PE ratio of 12.71 and a beta of 0.55.

Fossil Group (NASDAQ:FOSL) last posted its earnings results on Wednesday, May 8th. The accessories brand company reported ($0.42) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.53) by $0.11. Fossil Group had a net margin of 1.34% and a return on equity of 8.88%. The business had revenue of $465.30 million for the quarter, compared to analyst estimates of $453.97 million. During the same quarter in the prior year, the firm earned ($0.99) EPS. The firm’s quarterly revenue was down 18.3% compared to the same quarter last year. On average, analysts anticipate that Fossil Group will post 0.55 EPS for the current fiscal year.

In related news, EVP Martin Frey acquired 5,000 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were purchased at an average price of $9.70 per share, with a total value of $48,500.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.00% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. acquired a new position in Fossil Group during the 1st quarter valued at about $26,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Fossil Group in the 1st quarter valued at approximately $141,000. Menta Capital LLC acquired a new stake in shares of Fossil Group in the 1st quarter valued at approximately $151,000. United Services Automobile Association raised its position in shares of Fossil Group by 9.3% in the 4th quarter. United Services Automobile Association now owns 11,045 shares of the accessories brand company’s stock valued at $174,000 after acquiring an additional 943 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in shares of 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 during the period. Institutional investors own 89.08% of the company’s stock.

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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