Fossil Group Inc. (FOSL) Sees Unusually-High Trading Volume
Shares of Fossil Group Inc. (NASDAQ:FOSL) saw unusually-high trading volume on Wednesday . Approximately 2,670,196 shares changed hands during mid-day trading, an increase of 66% from the previous session’s volume of 1,605,456 shares.The stock last traded at $28.02 and had previously closed at $27.46.
FOSL has been the topic of several research analyst reports. Piper Jaffray Cos. reaffirmed an “underweight” rating and issued a $25.00 price target on shares of Fossil Group in a report on Wednesday, June 22nd. Mizuho decreased their price target on shares of Fossil Group from $36.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, May 11th. Zacks Investment Research raised shares of Fossil Group from a “strong sell” rating to a “hold” rating in a report on Monday, March 28th. Macquarie cut shares of Fossil Group from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $46.85 to $34.00 in a report on Wednesday, March 16th. Finally, TheStreet cut shares of Fossil Group from a “hold” rating to a “sell” rating in a report on Tuesday, June 7th. Seven analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. Fossil Group presently has a consensus rating of “Hold” and a consensus target price of $36.97.
The company has a market capitalization of $1.35 billion and a price-to-earnings ratio of 7.19. The company has a 50 day moving average of $28.25 and a 200 day moving average of $36.35.
Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.15 by $0.03. The business had revenue of $659.80 million for the quarter, compared to analyst estimates of $666.36 million. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 EPS. Equities research analysts anticipate that Fossil Group Inc. will post $2.12 EPS for the current fiscal year.
A number of hedge funds recently made changes to their positions in the company. Aberdeen Asset Management PLC UK boosted its stake in shares of Fossil Group by 3.0% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 19,946 shares of the company’s stock valued at $1,087,000 after buying an additional 580 shares during the last quarter. Norinchukin Bank The increased its stake in Fossil Group by 12.5% in the fourth quarter. Norinchukin Bank The now owns 27,354 shares of the company’s stock worth $1,000,000 after buying an additional 3,040 shares during the period. ProShare Advisors LLC increased its stake in Fossil Group by 102.1% in the fourth quarter. ProShare Advisors LLC now owns 29,113 shares of the company’s stock worth $1,064,000 after buying an additional 14,709 shares during the period. GSA Capital Partners LLP increased its stake in Fossil Group by 188.9% in the fourth quarter. GSA Capital Partners LLP now owns 37,912 shares of the company’s stock worth $1,386,000 after buying an additional 24,789 shares during the period. Finally, Schroder Investment Management Group increased its stake in Fossil Group by 109.3% in the fourth quarter. Schroder Investment Management Group now owns 48,561 shares of the company’s stock worth $1,775,000 after buying an additional 25,361 shares during the period.
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments are 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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