Fossil Group, Inc. (FOSL) Sets New 52-Week Low at $8.18
Fossil Group, Inc. (NASDAQ:FOSL)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $8.18 and last traded at $8.14, with a volume of 3,716,123 shares. The stock had previously closed at $8.81.
A number of equities analysts have commented on FOSL shares. Vetr cut shares of Fossil Group from a “strong-buy” rating to a “buy” rating and set a $18.50 price objective for the company. in a research note on Monday, April 17th. Jefferies Group LLC restated a “hold” rating and issued a $19.00 target price on shares of Fossil Group in a report on Tuesday, May 2nd. Zacks Investment Research upgraded shares of Fossil Group from a “strong sell” rating to a “hold” rating in a report on Monday, May 8th. Telsey Advisory Group lowered their target price on shares of Fossil Group from $23.00 to $16.00 and set a “market perform” rating for the company in a report on Wednesday, May 10th. Finally, Cowen and Company lowered their target price on shares of Fossil Group from $15.00 to $12.00 and set a “market perform” rating for the company in a report on Wednesday, May 10th. Four equities research 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’s stock. Fossil Group currently has a consensus rating of “Hold” and an average price target of $16.23.
The firm’s 50 day moving average price is $10.42 and its 200 day moving average price is $15.24. The company’s market capitalization is $402.31 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 Thomson Reuters’ consensus estimate of ($0.28) by $0.05. The company had revenue of $596.80 million during the quarter, compared to analyst estimates of $617.89 million. Fossil Group had a negative net margin of 11.33% and a positive return on equity of 6.34%. Fossil Group’s revenue was down 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.12 earnings per share. Equities research analysts forecast that Fossil Group, Inc. will post $0.47 earnings per share for the current fiscal year.
In other Fossil Group news, Chairman Kosta N. Kartsotis sold 625,000 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $9.73, for a total transaction of $6,081,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Kosta N. Kartsotis sold 520,281 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $10.71, for a total transaction of $5,572,209.51. Following the transaction, 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. In the last ninety days, insiders have sold 2,220,281 shares of company stock valued at $23,790,210. 12.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its position in shares of Fossil Group by 21.2% in the first quarter. Nisa Investment Advisors LLC now owns 14,300 shares of the accessories brand company’s stock valued at $250,000 after buying an additional 2,500 shares during the period. FDO Partners LLC bought a new position in shares of Fossil Group during the first quarter valued at $3,379,000. State Board of Administration of Florida Retirement System raised its position in shares of Fossil Group by 10.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 28,132 shares of the accessories brand company’s stock valued at $491,000 after buying an additional 2,615 shares during the period. HighTower Advisors LLC bought a new position in shares of Fossil Group during the first quarter valued at $1,212,000. Finally, Prudential Financial Inc. raised its position in shares of Fossil Group by 171.2% in the first quarter. Prudential Financial Inc. now owns 380,416 shares of the accessories brand company’s stock valued at $6,638,000 after buying an additional 240,130 shares during the period. 97.21% of the stock is owned by institutional investors.
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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.
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