TheStreet Lowers Fossil Group (NASDAQ:FOSL) to D

TheStreet cut shares of Fossil Group (NASDAQ:FOSL) from a c- rating to a d rating in a research report sent to investors on Thursday, TheStreetRatingsTable reports.

A number of other analysts also recently issued reports on FOSL. Wells Fargo & Co lowered their price target on Fossil Group from $8.00 to $6.00 and set an underperform rating for the company in a research report on Thursday. ValuEngine downgraded Fossil Group from a hold rating to a sell rating in a research report on Friday, November 1st. BidaskClub upgraded Fossil Group from a hold rating to a buy rating in a research report on Friday. Zacks Investment Research upgraded Fossil Group from a hold rating to a buy rating and set a $13.00 price target for the company in a research report on Wednesday, October 23rd. Finally, Telsey Advisory Group restated a market perform rating and issued a $12.00 price target (down from $15.00) on shares of Fossil Group in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $10.33.

Fossil Group stock traded down $0.98 during midday trading on Thursday, hitting $8.93. The stock had a trading volume of 3,074,300 shares, compared to its average volume of 1,447,614. The company has a market capitalization of $652.60 million, a PE ratio of 11.45 and a beta of 0.40. The firm’s fifty day moving average is $11.45 and its two-hundred day moving average is $11.51. Fossil Group has a 52-week low of $8.92 and a 52-week high of $22.24. The company has a current ratio of 1.92, a quick ratio of 1.05 and a debt-to-equity ratio of 0.87.

Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings results on Wednesday, August 7th. The accessories brand company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The company had revenue of $501.40 million during the quarter, compared to the consensus estimate of $499.05 million. Fossil Group had a return on equity of 6.94% and a net margin of 1.40%. Fossil Group’s revenue was down 13.0% on a year-over-year basis. During the same period last year, the company earned ($0.16) earnings per share. As a group, equities research analysts predict that Fossil Group will post 1.49 earnings per share for the current fiscal year.

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In other Fossil Group news, EVP Gregory A. Mckelvey bought 33,600 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $10.22 per share, for a total transaction of $343,392.00. Following the completion of the transaction, the executive vice president now owns 432,093 shares in the company, valued at $4,415,990.46. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Darren E. Hart bought 20,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were acquired at an average price of $10.03 per share, with a total value of $200,600.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 153,600 shares of company stock valued at $1,529,992. Corporate insiders own 8.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Flinton Capital Management LLC lifted its position in shares of Fossil Group by 22.8% during the second quarter. Flinton Capital Management LLC now owns 6,032 shares of the accessories brand company’s stock worth $69,000 after purchasing an additional 1,120 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of Fossil Group by 3.7% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 31,949 shares of the accessories brand company’s stock worth $400,000 after purchasing an additional 1,132 shares during the last quarter. Riverhead Capital Management LLC lifted its position in shares of Fossil Group by 22.2% during the second quarter. Riverhead Capital Management LLC now owns 6,600 shares of the accessories brand company’s stock worth $76,000 after purchasing an additional 1,200 shares during the last quarter. Meadow Creek Investment Management LLC lifted its position in shares of Fossil Group by 22.8% during the second quarter. Meadow Creek Investment Management LLC now owns 8,294 shares of the accessories brand company’s stock worth $95,000 after purchasing an additional 1,540 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in shares of Fossil Group during the first quarter worth $26,000.

About Fossil Group

Fossil Group, Inc designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. Its principal products include men's and women's fashion watches and jewelry, smartwatches, handbags, small leather goods, belts, and sunglasses.

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