Mizuho Downgrades Fossil Group, Inc. (FOSL) to Underperform
Fossil Group, Inc. (NASDAQ:FOSL) was downgraded by investment analysts at Mizuho from a “neutral” rating to an “underperform” rating in a research note issued on Friday. They presently have a $19.00 price objective on the stock, down from their prior price objective of $25.00. Mizuho’s price objective indicates a potential downside of 6.13% from the stock’s current price.
FOSL has been the topic of several other research reports. Piper Jaffray Companies reiterated a “sell” rating and issued a $23.00 price target on shares of Fossil Group in a report on Tuesday, November 8th. KeyCorp reiterated an “overweight” rating and issued a $42.00 price target on shares of Fossil Group in a report on Wednesday, December 28th. Zacks Investment Research downgraded shares of Fossil Group from a “buy” rating to a “hold” rating in a report on Monday, November 7th. Cowen and Company reiterated a “market perform” rating and issued a $25.00 price target (down previously from $30.00) on shares of Fossil Group in a report on Friday, November 4th. Finally, OTR Global upgraded shares of Fossil Group to a “neutral” rating in a report on Tuesday, November 1st. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.00.
Shares of Fossil Group (NASDAQ:FOSL) traded up 3.90% during trading on Friday, reaching $20.24. 5,038,427 shares of the company’s stock traded hands. The company has a 50 day moving average price of $24.64 and a 200-day moving average price of $28.61. Fossil Group has a one year low of $18.10 and a one year high of $51.93. The stock has a market cap of $975.57 million, a P/E ratio of 12.42 and a beta of 1.59.
Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings data on Tuesday, February 14th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by $0.18. Fossil Group had a net margin of 3.24% and a return on equity of 12.56%. The company had revenue of $959 million for the quarter, compared to analyst estimates of $977.13 million. During the same quarter last year, the company earned $1.46 EPS. The business’s revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts expect that Fossil Group will post $1.73 EPS for the current fiscal year.
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In other Fossil Group news, Director Elaine B. Agather sold 1,800 shares of the firm’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $31.77, for a total value of $57,186.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darren E. Hart sold 13,125 shares of the firm’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $34.42, for a total value of $451,762.50. The disclosure for this sale can be found here. Company insiders own 13.80% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Vulcan Value Partners LLC increased its stake in shares of Fossil Group by 4.1% in the second quarter. Vulcan Value Partners LLC now owns 11,611,725 shares of the company’s stock worth $331,283,000 after buying an additional 459,907 shares during the period. Vanguard Group Inc. increased its stake in shares of Fossil Group by 5.3% in the second quarter. Vanguard Group Inc. now owns 2,949,371 shares of the company’s stock worth $84,146,000 after buying an additional 149,439 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Fossil Group by 6.8% in the third quarter. BlackRock Fund Advisors now owns 2,204,564 shares of the company’s stock worth $61,221,000 after buying an additional 140,040 shares during the last quarter. Eminence Capital LP increased its stake in shares of Fossil Group by 19.8% in the second quarter. Eminence Capital LP now owns 2,136,408 shares of the company’s stock worth $60,952,000 after buying an additional 352,570 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its stake in shares of Fossil Group by 39.8% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,929,377 shares of the company’s stock worth $49,894,000 after buying an additional 548,901 shares during the last quarter. 95.01% of the stock is owned by institutional investors and hedge funds.
Fossil Group Company Profile
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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