Fossil Group (FOSL) Shares Down 9.2%
Shares of Fossil Group, Inc. (NASDAQ:FOSL) fell 9.2% on Thursday . The stock traded as low as $7.05 and last traded at $7.08. 2,509,375 shares traded hands during trading, an increase of 11% from the average session volume of 2,252,129 shares. The stock had previously closed at $7.80.
Several brokerages have weighed in on FOSL. Telsey Advisory Group cut their target price on Fossil Group from $13.00 to $11.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 9th. Jefferies Group reaffirmed a “hold” rating and set a $13.00 target price on shares of Fossil Group in a research note on Wednesday, August 9th. Buckingham Research cut their target price on Fossil Group from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 9th. Wells Fargo & Company reaffirmed an “underperform” rating and set a $7.00 target price (down previously from $8.00) on shares of Fossil Group in a research note on Thursday, August 10th. Finally, Bank of America set a $7.00 target price on Fossil Group and gave the company a “sell” rating in a research note on Wednesday, August 9th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $13.54.
The company has a quick ratio of 1.09, a current ratio of 2.32 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $324.65, a P/E ratio of 8.63 and a beta of 0.77.
Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings data on Tuesday, November 7th. The accessories brand company reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.32. Fossil Group had a positive return on equity of 4.75% and a negative net margin of 12.33%. The company had revenue of $689.00 million for the quarter, compared to the consensus estimate of $649.87 million. During the same quarter in the previous year, the business earned $0.36 EPS. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. analysts forecast that Fossil Group, Inc. will post -0.22 EPS for the current year.
In related news, EVP Gregory A. Mckelvey bought 110,000 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were bought at an average cost of $6.22 per share, with a total value of $684,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Martin Frey bought 7,500 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were bought at an average cost of $7.41 per share, for a total transaction of $55,575.00. The disclosure for this purchase can be found here. 12.80% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. Shell Asset Management Co. acquired a new stake in shares of Fossil Group during the third quarter worth $652,000. Northwestern Mutual Investment Management Company LLC acquired a new stake in shares of Fossil Group during the second quarter worth $204,000. Acadian Asset Management LLC acquired a new stake in shares of Fossil Group during the second quarter worth $113,000. GSA Capital Partners LLP acquired a new stake in shares of Fossil Group during the second quarter worth $120,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Fossil Group during the second quarter worth $122,000. 92.54% of the stock is currently owned by institutional investors.
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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