Shares of Fossil Group, Inc. (NASDAQ:FOSL) have been given an average recommendation of “Hold” by the twenty brokerages that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $18.42.
A number of research firms have issued reports on FOSL. Instinet cut their price objective on shares of Fossil Group from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, May 10th. Jefferies Group LLC reissued a “hold” rating and issued a $19.00 price objective on shares of Fossil Group in a report on Tuesday, May 2nd. Zacks Investment Research raised shares of Fossil Group from a “strong sell” rating to a “hold” rating in a report on Monday, July 17th. Nomura reissued a “hold” rating and issued a $13.00 price objective on shares of Fossil Group in a report on Friday, May 12th. Finally, TheStreet downgraded shares of Fossil Group from a “c-” rating to a “d+” rating in a report on Thursday, May 11th.
Fossil Group (NASDAQ FOSL) traded up 5.71% on Tuesday, reaching $11.84. 5,403,546 shares of the company traded hands. The stock has a 50-day moving average price of $10.31 and a 200-day moving average price of $15.66. The firm has a market cap of $573.81 million, a P/E ratio of 23.22 and a beta of 0.73. Fossil Group has a 52-week low of $8.98 and a 52-week high of $36.87.
Fossil Group (NASDAQ:FOSL) last posted 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 business had revenue of $582 million during the quarter, compared to the consensus estimate of $590.51 million. Fossil Group had a net margin of 0.84% and a return on equity of 7.59%. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 EPS. Analysts anticipate that Fossil Group will post $0.87 earnings per share for the current fiscal year.
In related news, Chairman Kosta N. Kartsotis sold 625,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $9.73, for a total transaction of $6,081,250.00. The transaction was disclosed in a legal 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 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. Insiders sold a total of 2,220,281 shares of company stock valued at $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 added to or reduced their stakes in FOSL. Acadian Asset Management LLC bought a new position in Fossil Group during the second quarter worth about $113,000. Campbell & CO Investment Adviser LLC bought a new position in Fossil Group during the second quarter worth about $122,000. Louisiana State Employees Retirement System boosted its position 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 worth $178,000 after buying an additional 100 shares in the last quarter. Koch Industries Inc. bought a new position in Fossil Group during the first quarter worth about $196,000. Finally, Wayne Hummer Investments L.L.C. bought a new position in Fossil Group during the first quarter worth about $205,000. 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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