Fossil Group, Inc. (FOSL) Downgraded by ValuEngine

ValuEngine cut shares of Fossil Group, Inc. (NASDAQ:FOSL) from a buy rating to a hold rating in a report issued on Tuesday, August 1st.

Several other analysts have also commented on FOSL. Cowen and Company lowered their price objective on shares of Fossil Group from $15.00 to $12.00 and set a market perform rating on the stock in a research report on Wednesday, May 10th. Telsey Advisory Group lowered their price objective on shares of Fossil Group from $23.00 to $16.00 and set a market perform rating on the stock in a research report on Wednesday, May 10th. Nomura reaffirmed a hold rating and issued a $13.00 price objective on shares of Fossil Group in a research report on Friday, May 12th. Piper Jaffray Companies reaffirmed a hold rating and issued a $15.00 price objective on shares of Fossil Group in a research report on Friday, July 14th. Finally, Wells Fargo & Company reaffirmed an underperform rating and issued a $8.00 price objective (down previously from $12.00) on shares of Fossil Group in a research report on Friday, June 16th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. Fossil Group presently has a consensus rating of Hold and a consensus price target of $16.23.

Shares of Fossil Group (FOSL) traded down 3.60% on Tuesday, reaching $7.49. 3,735,836 shares of the company were exchanged. The firm’s market capitalization is $363.42 million. The company’s 50 day moving average is $10.08 and its 200 day moving average is $14.49. Fossil Group has a 12-month low of $7.28 and a 12-month high of $36.87.

Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings data on Tuesday, August 8th. The accessories brand company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.05. The business had revenue of $596.80 million for 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%. The company’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 earnings per share. Analysts forecast that Fossil Group will post $0.47 earnings per share for the current year.

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In related news, insider Gregory A. Mckelvey purchased 32,798 shares of the business’s stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $8.51 per share, with a total value of $279,110.98. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Kosta N. Kartsotis sold 520,281 shares of the business’s stock in a transaction that occurred on 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 completion of 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 owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in Fossil Group during the second quarter worth approximately $113,000. GSA Capital Partners LLP bought a new position in Fossil Group during the second quarter worth approximately $120,000. Campbell & CO Investment Adviser LLC bought a new position in Fossil Group during the second quarter worth approximately $122,000. BlueCrest Capital Management Ltd bought a new position in Fossil Group during the second quarter worth approximately $130,000. Finally, Louisiana State Employees Retirement System boosted its position in Fossil Group by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the accessories brand company’s stock worth $178,000 after buying an additional 100 shares in the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Fossil Group (NASDAQ:FOSL)

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