Fossil Group, Inc. (FOSL) Stock Price Down 1.8% After Analyst Downgrade
Fossil Group, Inc. (NASDAQ:FOSL) was down 1.8% on Thursday after Buckingham Research lowered their price target on the stock from $10.00 to $9.00. Buckingham Research currently has a neutral rating on the stock. Fossil Group traded as low as $8.37 and last traded at $9.03, with a volume of 2,637,969 shares. The stock had previously closed at $8.87.
Other equities research analysts also recently issued reports about the company. ValuEngine upgraded Fossil Group from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Vetr downgraded Fossil Group from a “strong-buy” rating to a “buy” rating and set a $18.50 price target on the stock. in a report on Monday, April 17th. Zacks Investment Research upgraded Fossil Group from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Thursday, August 3rd. TheStreet downgraded Fossil Group from a “c-” rating to a “d+” rating in a report on Thursday, May 11th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $15.00 price target on shares of Fossil Group in a report on Friday, July 14th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. Fossil Group has an average rating of “Hold” and a consensus price target of $16.23.
In other news, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $11.29, for a total value of $12,136,750.00. Following the completion of the sale, the chairman now owns 4,183,047 shares of the company’s stock, valued at approximately $47,226,600.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Kosta N. Kartsotis sold 520,281 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $10.71, for a total value of $5,572,209.51. Following the completion of the sale, the chairman now directly owns 3,445,546 shares of the company’s stock, valued at approximately $36,901,797.66. The disclosure for this sale can be found here. Insiders have sold a total of 2,220,281 shares of company stock worth $23,790,210 in the last ninety days. Insiders own 12.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in Fossil Group during the fourth quarter worth $217,000. Norges Bank acquired a new stake in Fossil Group during the fourth quarter worth $13,259,000. Winslow Asset Management Inc. boosted its stake in Fossil Group by 1.6% in the first quarter. Winslow Asset Management Inc. now owns 168,823 shares of the accessories brand company’s stock worth $2,946,000 after buying an additional 2,645 shares during the last quarter. Capstone Asset Management Co. boosted its stake in Fossil Group by 79.9% in the first quarter. Capstone Asset Management Co. now owns 14,550 shares of the accessories brand company’s stock worth $254,000 after buying an additional 6,460 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Fossil Group by 64.4% in the first quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the accessories brand company’s stock worth $298,000 after buying an additional 6,700 shares during the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.
The firm has a 50 day moving average price of $10.43 and a 200-day moving average price of $15.28. The firm’s market capitalization is $439.17 million.
Fossil Group (NASDAQ:FOSL) last announced its earnings results on Tuesday, August 8th. The accessories brand company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.05. Fossil Group had a negative net margin of 11.33% and a positive return on equity of 5.80%. The business had revenue of $596.80 million during the quarter, compared to the consensus estimate of $617.89 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was down 12.9% compared to the same quarter last year. Equities analysts expect that Fossil Group, Inc. will post $0.87 earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: This report was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this report on another website, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The original version of this report can be viewed at https://www.dailypolitical.com/2017/08/10/fossil-group-inc-fosl-stock-price-down-1-8-after-analyst-downgrade.html.
About Fossil Group
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments include 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.
Receive News & Ratings for Fossil Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fossil Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.