Piper Jaffray Companies set a $10.00 target price on Fossil Group, Inc. (NASDAQ:FOSL) in a report released on Thursday morning. The brokerage currently has a hold rating on the accessories brand company’s stock.
FOSL has been the topic of a number of other research reports. ValuEngine cut shares of Fossil Group from a buy rating to a hold rating in a report on Tuesday, August 1st. BidaskClub raised shares of Fossil Group from a sell rating to a hold rating in a report on Wednesday, July 19th. Zacks Investment Research raised shares of Fossil Group from a sell rating to a hold rating in a report on Wednesday, September 6th. Bank of America Corporation set a $7.00 price objective on shares of Fossil Group and gave the stock a sell rating in a report on Wednesday, August 9th. Finally, Wells Fargo & Company reissued an underperform rating and set a $7.00 price objective (down previously from $8.00) on shares of Fossil Group in a report on Thursday, August 10th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $15.90.
Shares of Fossil Group (FOSL) traded up 3.03% on Thursday, hitting $8.51. 1,438,242 shares of the stock were exchanged. The company’s 50 day moving average is $8.73 and its 200-day moving average is $11.48. Fossil Group has a 52-week low of $6.80 and a 52-week high of $36.87. The stock’s market cap is $412.91 million.
Fossil Group (NASDAQ:FOSL) last released its quarterly earnings data on Tuesday, August 8th. The accessories brand company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.05. Fossil Group had a negative net margin of 11.33% and a positive return on equity of 6.34%. The company had revenue of $596.80 million for the quarter, compared to analysts’ expectations of $617.89 million. During the same quarter last year, the company earned $0.12 earnings per share. The firm’s revenue for the quarter was down 12.9% on a year-over-year basis. Analysts predict that Fossil Group will post ($0.11) EPS for the current fiscal year.
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In other news, insider Darren E. Hart bought 14,347 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average price of $6.99 per share, with a total value of $100,285.53. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gregory A. Mckelvey bought 5,712 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average cost of $8.73 per share, with a total value of $49,865.76. The disclosure for this purchase can be found here. Insiders have bought a total of 114,945 shares of company stock valued at $923,917 in the last ninety days. Corporate insiders own 12.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. FMR LLC raised its stake in Fossil Group by 0.4% in the 2nd quarter. FMR LLC now owns 7,269,630 shares of the accessories brand company’s stock valued at $75,241,000 after purchasing an additional 32,068 shares during the last quarter. BlackRock Inc. raised its stake in Fossil Group by 19,301.2% in the 1st quarter. BlackRock Inc. now owns 5,209,210 shares of the accessories brand company’s stock valued at $90,900,000 after purchasing an additional 5,182,360 shares during the last quarter. Vanguard Group Inc. raised its stake in Fossil Group by 14.5% in the 1st quarter. Vanguard Group Inc. now owns 3,644,137 shares of the accessories brand company’s stock valued at $63,591,000 after purchasing an additional 462,851 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Fossil Group by 3,915.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,514,634 shares of the accessories brand company’s stock valued at $26,027,000 after purchasing an additional 2,452,006 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Fossil Group by 17.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,043,074 shares of the accessories brand company’s stock valued at $21,146,000 after purchasing an additional 296,119 shares during the last quarter.
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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