Investors Buy Fossil Group Inc. (FOSL) on Weakness
Traders bought shares of Fossil Group Inc. (NASDAQ:FOSL) on weakness during trading hours on Thursday. $11.96 million flowed into the stock on the tick-up and $4.63 million flowed out of the stock on the tick-down, for a money net flow of $7.33 million into the stock. Of all equities tracked, Fossil Group had the 20th highest net in-flow for the day. Fossil Group traded down ($0.03) for the day and closed at $30.06
FOSL has been the subject of a number of recent analyst reports. Vetr raised Fossil Group from a “sell” rating to a “hold” rating and set a $39.37 price objective for the company in a research report on Friday, April 29th. Mizuho cut their price objective on Fossil Group from $36.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, May 11th. Telsey Advisory Group cut their price objective on Fossil Group from $40.00 to $32.00 and set a “market perform” rating for the company in a research report on Wednesday, May 11th. Topeka Capital Markets cut their price objective on Fossil Group from $60.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, May 11th. Finally, Bank of America Corp. reaffirmed a “sell” rating and issued a $20.00 price objective on shares of Fossil Group in a research report on Wednesday, May 11th. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. Fossil Group currently has a consensus rating of “Hold” and a consensus price target of $30.89.
The firm has a market cap of $1.45 billion and a P/E ratio of 10.40. The stock’s 50-day moving average is $30.57 and its 200 day moving average is $35.62.
Fossil Group (NASDAQ:FOSL) last announced its earnings results on Tuesday, August 9th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. During the same quarter in the previous year, the firm earned $1.12 EPS. The business earned $685 million during the quarter, compared to analysts’ expectations of $670.97 million. Fossil Group’s quarterly revenue was down 7.4% on a year-over-year basis. Equities research analysts expect that Fossil Group Inc. will post $1.87 earnings per share for the current year.
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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