Fossil Group Inc. (FOSL) Trading Down 7%
Fossil Group Inc. (NASDAQ:FOSL) was down 7% on Tuesday . The company traded as low as $27.19 and last traded at $27.36, with a volume of 806,246 shares trading hands. The stock had previously closed at $29.43.
A number of equities research analysts recently weighed in on FOSL shares. Piper Jaffray Cos. reaffirmed an “underweight” rating and set a $25.00 price target on shares of Fossil Group in a report on Wednesday, June 22nd. Mizuho lowered their price target on shares of Fossil Group from $36.00 to $27.00 and set a “neutral” rating for the company 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 lowered shares of Fossil Group from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $46.85 to $34.00 in a report on Wednesday, March 16th. Finally, TheStreet lowered shares of Fossil Group from a “hold” rating to a “sell” rating in a report on Tuesday, June 7th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $36.97.
The company has a 50 day moving average price of $28.25 and a 200-day moving average price of $36.35. The company has a market cap of $1.38 billion and a P/E ratio of 7.35.
Fossil Group (NASDAQ:FOSL) last released its earnings results on Tuesday, May 10th. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.03. The company had revenue of $659.80 million for the quarter, compared to analysts’ expectations of $666.36 million. Fossil Group’s revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 EPS. Analysts anticipate that Fossil Group Inc. will post $2.12 earnings per share for the current fiscal year.
Other institutional investors recently added to or reduced their stakes in the company. Schroder Investment Management Group boosted its position in Fossil Group by 109.3% in the fourth quarter. Schroder Investment Management Group now owns 48,561 shares of the company’s stock valued at $1,775,000 after buying an additional 25,361 shares during the last quarter. Aberdeen Asset Management PLC UK raised 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 period. Principal Financial Group Inc. raised its stake in shares of Fossil Group by 4.7% in the fourth quarter. Principal Financial Group Inc. now owns 63,054 shares of the company’s stock valued at $2,305,000 after buying an additional 2,844 shares during the period. Pacifica Capital Investments LLC acquired a new stake in shares of Fossil Group during the fourth quarter valued at about $5,061,000. Finally, Norinchukin Bank The raised its stake in shares of Fossil Group by 12.5% in the fourth quarter. Norinchukin Bank The now owns 27,354 shares of the company’s stock valued at $1,000,000 after buying an additional 3,040 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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