Fossil Group, Inc. (NASDAQ:FOSL) had its target price lowered by Buckingham Research from $10.00 to $9.00 in a report released on Wednesday morning. Buckingham Research currently has a neutral rating on the accessories brand company’s stock.
Several other analysts have also issued reports on the company. Bank of America Corporation set a $7.00 target price on Fossil Group and gave the company a sell rating in a research note on Wednesday. Telsey Advisory Group lowered their target price on Fossil Group from $13.00 to $11.00 and set a market perform rating on the stock in a research note on Wednesday. Wells Fargo & Company restated an underperform rating and issued a $8.00 target price on shares of Fossil Group in a research note on Thursday, August 3rd. Zacks Investment Research upgraded Fossil Group from a hold rating to a buy rating and set a $12.00 target price on the stock in a research note on Thursday, August 3rd. Finally, ValuEngine lowered Fossil Group from a buy rating to a hold rating in a research note on Tuesday, August 1st. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. Fossil Group presently has a consensus rating of Hold and a consensus target price of $16.23.
Fossil Group (FOSL) traded down 6.92% on Wednesday, reaching $8.20. The company’s stock had a trading volume of 5,573,946 shares. Fossil Group has a 12 month low of $7.92 and a 12 month high of $36.87. The firm’s market cap is $397.70 million. The firm has a 50 day moving average of $10.38 and a 200 day moving average of $15.12.
Fossil Group (NASDAQ:FOSL) last issued its earnings results on Tuesday, August 8th. The accessories brand company reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.05. The firm had revenue of $596.80 million for the quarter, compared to analyst estimates of $617.89 million. Fossil Group had a positive return on equity of 6.34% and a negative net margin of 11.33%. The business’s revenue was down 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 earnings per share. Analysts anticipate that Fossil Group will post $0.47 earnings per share for the current year.
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In other Fossil Group news, Chairman Kosta N. Kartsotis sold 625,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $9.73, for a total value of $6,081,250.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Kosta N. Kartsotis sold 520,281 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $10.71, for a total value of $5,572,209.51. Following the completion of the transaction, the chairman now owns 3,445,546 shares in the company, valued at $36,901,797.66. The disclosure for this sale can be found here. Insiders sold a total of 2,220,281 shares of company stock worth $23,790,210 over the last 90 days. Corporate insiders own 12.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in FOSL. Nisa Investment Advisors LLC raised its position in shares of Fossil Group by 21.2% in the first quarter. Nisa Investment Advisors LLC now owns 14,300 shares of the accessories brand company’s stock worth $250,000 after buying an additional 2,500 shares in the last quarter. FDO Partners LLC acquired a new position in shares of Fossil Group during the first quarter worth $3,379,000. State Board of Administration of Florida Retirement System raised its position in shares of Fossil Group by 10.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 28,132 shares of the accessories brand company’s stock worth $491,000 after buying an additional 2,615 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Fossil Group during the first quarter worth $1,212,000. Finally, Comerica Bank raised its position in shares of Fossil Group by 50.5% in the first quarter. Comerica Bank now owns 47,498 shares of the accessories brand company’s stock worth $838,000 after buying an additional 15,945 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.
About Fossil Group
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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