Traders Buy Shares of Fossil Group Inc. (FOSL) on Weakness
Traders bought shares of Fossil Group Inc. (NASDAQ:FOSL) on weakness during trading 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 stocks 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
Several brokerages recently weighed in on FOSL. Piper Jaffray Cos. restated an “underweight” rating and set a $25.00 target price on shares of Fossil Group in a research note on Wednesday. TheStreet downgraded Fossil Group from a “hold” rating to a “sell” rating in a research note on Tuesday, June 7th. Vetr upgraded Fossil Group from a “sell” rating to a “hold” rating and set a $39.37 target price for the company in a research note on Friday, April 29th. S&P Equity Research downgraded Fossil Group from a “buy” rating to a “strong sell” rating and set a $22.00 price objective for the company. in a research report on Friday, May 13th. Finally, Nomura reduced their price objective on Fossil Group from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Wednesday, August 10th. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. Fossil Group presently has a consensus rating of “Hold” and an average target price of $30.89.
The stock has a market capitalization of $1.42 billion and a P/E ratio of 10.20. The company’s 50 day moving average is $30.61 and its 200-day moving average is $35.59.
Fossil Group (NASDAQ:FOSL) last posted its earnings results on Tuesday, August 9th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. The firm earned $685 million during the quarter, compared to analyst estimates of $670.97 million. Fossil Group’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 EPS. Equities analysts predict that Fossil Group Inc. will post $1.87 earnings per share for the current fiscal 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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