Fossil Group, Inc. (FOSL) Trading Up 6.4%
Fossil Group, Inc. (NASDAQ:FOSL)’s share price was up 6.4% on Thursday . The stock traded as high as $7.68 and last traded at $7.62. Approximately 2,207,109 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 2,281,304 shares. The stock had previously closed at $7.16.
Several equities analysts have recently weighed in on FOSL shares. Buckingham Research reduced their target price on shares of Fossil Group from $9.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, November 8th. ValuEngine downgraded shares of Fossil Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Bank of America Corporation reduced their price objective on shares of Fossil Group from $7.00 to $4.00 and set an “underperform” rating for the company in a research note on Wednesday, November 8th. Piper Jaffray Companies set a $10.00 price objective on shares of Fossil Group and gave the company a “hold” rating in a research note on Thursday, October 12th. Finally, Zacks Investment Research raised shares of Fossil Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. Fossil Group has an average rating of “Hold” and an average target price of $13.54.
The company has a market cap of $369.78, a PE ratio of 8.78 and a beta of 0.77. The company has a current ratio of 2.32, a quick ratio of 1.09 and a debt-to-equity ratio of 0.68.
Fossil Group (NASDAQ:FOSL) last announced its earnings results on Tuesday, November 7th. The accessories brand company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.32. The business had revenue of $689.00 million during the quarter, compared to analyst estimates of $649.87 million. Fossil Group had a negative net margin of 12.33% and a positive return on equity of 4.75%. Fossil Group’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 earnings per share. research analysts anticipate that Fossil Group, Inc. will post -0.22 earnings per share for the current fiscal year.
In other Fossil Group news, insider Gregory A. Mckelvey acquired 5,712 shares of the stock in a transaction dated Tuesday, August 29th. The stock was purchased at an average cost of $8.73 per share, for a total transaction of $49,865.76. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James M. Zimmerman acquired 36,000 shares of the stock in a transaction dated Friday, August 25th. The stock was acquired at an average price of $8.30 per share, with a total value of $298,800.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 192,147 shares of company stock valued at $1,329,006. Company insiders own 12.80% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. California Public Employees Retirement System lifted its holdings in shares of Fossil Group by 42.9% in the 3rd quarter. California Public Employees Retirement System now owns 415,119 shares of the accessories brand company’s stock worth $3,873,000 after acquiring an additional 124,619 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Fossil Group by 177.5% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 548,529 shares of the accessories brand company’s stock worth $5,118,000 after acquiring an additional 350,865 shares during the last quarter. KBC Group NV lifted its holdings in shares of Fossil Group by 167.9% in the 3rd quarter. KBC Group NV now owns 13,441 shares of the accessories brand company’s stock worth $125,000 after acquiring an additional 8,424 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Fossil Group in the 3rd quarter worth approximately $182,000. Finally, Schwab Charles Investment Management Inc. raised its holdings in Fossil Group by 31.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 388,165 shares of the accessories brand company’s stock valued at $3,622,000 after buying an additional 93,027 shares during the last quarter.
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Fossil Group Company Profile
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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