Fossil Group Inc. (FOSL) Sees Unusually-High Trading Volume
Fossil Group Inc. (NASDAQ:FOSL) saw unusually-strong trading volume on Friday . Approximately 2,780,113 shares changed hands during mid-day trading, an increase of 139% from the previous session’s volume of 1,162,254 shares.The stock last traded at $30.55 and had previously closed at $29.54.
Several equities research analysts recently commented on FOSL shares. Piper Jaffray Cos. reiterated an “underweight” rating and issued a $25.00 price objective on shares of Fossil Group in a research report on Wednesday, June 22nd. Mizuho reduced their target price 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. TheStreet lowered shares of Fossil Group from a “hold” rating to a “sell” rating in a report on Tuesday, June 7th. S&P Equity Research lowered shares of Fossil Group from a “buy” rating to a “strong sell” rating and set a $22.00 target price on the stock. in a report on Friday, May 13th. Finally, Pacific Crest restated an “equal weight” rating on shares of Fossil Group in a report on Tuesday, April 19th. Seven analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $36.97.
The stock’s 50 day moving average is $29.67 and its 200 day moving average is $35.69. The stock has a market capitalization of $1.47 billion and a P/E ratio of 7.84.
Fossil Group (NASDAQ:FOSL) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.03. The company earned $659.80 million during the quarter, compared to analyst estimates of $666.36 million. During the same period last year, the business earned $0.75 EPS. The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, analysts forecast that Fossil Group Inc. will post $2.06 EPS for the current fiscal year.
A number of large investors have made changes to their positions in the company. BlackRock Advisors LLC raised its stake in shares of Fossil Group by 0.6% in the fourth quarter. BlackRock Advisors LLC now owns 296,139 shares of the company’s stock worth $10,827,000 after buying an additional 1,636 shares during the last quarter. Hodges Capital Management Inc. acquired a new stake in shares of Fossil Group during the fourth quarter worth approximately $7,555,000. Schroder Investment Management Group raised its stake in shares of 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 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 worth $1,087,000 after buying an additional 580 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of 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 last quarter.
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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