A number of firms have modified their ratings and price targets on shares of Fossil Group (NASDAQ: FOSL) recently:
- 7/19/2017 - Fossil Group was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
- 7/17/2017 - Fossil Group was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Shares of Fossil have been underperforming the Zacks Categorized industry since the past one year, primarily due to a decline in the company's in traditional watches, softness in leather business and tough retail landscape. The company is also facing economic challenges in many of its key international markets. Notably, the company’s sales have lagged the Zacks Consensus Estimate since past four straight quarters. Though Fossil’s connected wearables and smartwatches are expected to gain momentum, the Watches category is likely to remain sluggish due to increased competition from new entrants in the market and volatility in sales pattern. Meanwhile, the company focuses on a restructuring program named New World Fossil, which aims at improving the financial performance of the Fossil brand and build an improved operating platform to drive long-term shareholder value.”
- 7/14/2017 - Fossil Group had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $15.00 price target on the stock.
- 7/13/2017 - Fossil Group was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
- 6/20/2017 - Fossil Group was upgraded by analysts at Buckingham Research from an “underperform” rating to a “neutral” rating.
- 6/16/2017 - Fossil Group had its “underperform” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $8.00 price target on the stock, down previously from $12.00.
- 6/2/2017 - Fossil Group was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
Fossil Group, Inc. (FOSL) traded up 3.92% during mid-day trading on Wednesday, hitting $10.61. 554,169 shares of the stock traded hands. The firm has a market cap of $514.20 million, a P/E ratio of 20.80 and a beta of 0.71. Fossil Group, Inc. has a 52 week low of $8.98 and a 52 week high of $36.87. The firm’s 50-day moving average price is $10.16 and its 200-day moving average price is $16.75.
Fossil Group (NASDAQ:FOSL) last released its quarterly earnings data on Tuesday, May 9th. The accessories brand company reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by $0.14. The company had revenue of $582 million for the quarter, compared to analyst estimates of $590.51 million. Fossil Group had a return on equity of 7.59% and a net margin of 0.84%. Fossil Group’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 earnings per share. On average, equities analysts forecast that Fossil Group, Inc. will post $0.84 earnings per share for the current fiscal year.
In related news, Chairman Kosta N. Kartsotis sold 520,281 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $10.71, for a total transaction of $5,572,209.51. Following the completion of the transaction, the chairman now directly owns 3,445,546 shares in the company, valued at approximately $36,901,797.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $11.29, for a total transaction of $12,136,750.00. Following the transaction, the chairman now owns 4,183,047 shares of the company’s stock, valued at $47,226,600.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,220,281 shares of company stock valued at $23,790,210. 12.80% of the stock is owned by corporate insiders.
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.
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