Jefferies Group LLC restated their hold rating on shares of Fossil Group, Inc. (NASDAQ:FOSL) in a research note released on Wednesday morning. Jefferies Group LLC currently has a $13.00 price target on the accessories brand company’s stock. Jefferies Group also issued estimates for Fossil Group’s Q3 2017 earnings at ($0.14) EPS, Q4 2017 earnings at $1.29 EPS, FY2017 earnings at $0.55 EPS and FY2018 earnings at $0.78 EPS.
Several other research analysts have also recently weighed in on the company. Buckingham Research raised Fossil Group from an underperform rating to a neutral rating in a research report on Tuesday, June 20th. ValuEngine cut Fossil Group from a buy rating to a hold rating in a research report on Friday, June 2nd. Vetr cut Fossil Group from a strong-buy rating to a buy rating and set a $18.50 price objective for the company. in a research report on Monday, April 17th. TheStreet cut Fossil Group from a c- rating to a d+ rating in a research report on Thursday, May 11th. Finally, Zacks Investment Research raised Fossil Group from a strong sell rating to a hold rating in a research report on Monday, May 8th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $16.23.
Fossil Group (FOSL) traded down 6.92% during midday trading on Wednesday, hitting $8.20. The stock had a trading volume of 5,573,946 shares. Fossil Group has a 52 week low of $7.92 and a 52 week high of $36.87. The stock has a 50-day moving average of $10.38 and a 200-day moving average of $15.12. The firm’s market cap is $397.70 million.
Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings data on Tuesday, August 8th. The accessories brand company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.05. The company had revenue of $596.80 million during the quarter, compared to analysts’ expectations of $617.89 million. Fossil Group had a positive return on equity of 6.34% and a negative net margin of 11.33%. Fossil Group’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share. Analysts forecast that Fossil Group will post $0.47 EPS for the current fiscal year.
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In other Fossil Group news, Chairman Kosta N. Kartsotis sold 520,281 shares of the company’s stock in a transaction that occurred on 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 sale, the chairman now owns 3,445,546 shares in the company, valued at $36,901,797.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 shares were sold at an average price of $11.29, for a total value of $12,136,750.00. Following the completion of the sale, the chairman now owns 4,183,047 shares in the company, valued at approximately $47,226,600.63. The disclosure for this sale can be found here. Insiders sold 2,220,281 shares of company stock worth $23,790,210 in the last 90 days. Corporate insiders own 12.80% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new stake in Fossil Group during the second quarter valued at about $113,000. GSA Capital Partners LLP acquired a new stake in Fossil Group during the second quarter valued at about $120,000. Campbell & CO Investment Adviser LLC acquired a new stake in Fossil Group during the second quarter valued at about $122,000. Louisiana State Employees Retirement System raised its stake in Fossil Group by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the accessories brand company’s stock valued at $178,000 after buying an additional 100 shares in the last quarter. Finally, Koch Industries Inc. acquired a new stake in Fossil Group during the first quarter valued at about $196,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.
Fossil Group Company Profile
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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