Fossil Group, Inc. (FOSL) Price Target Cut to $5.00

Fossil Group, Inc. (NASDAQ:FOSL) had its price target trimmed by Buckingham Research from $9.00 to $5.00 in a research note released on Wednesday. The brokerage currently has a neutral rating on the accessories brand company’s stock.

Several other equities research analysts have also commented on FOSL. ValuEngine raised shares of Fossil Group from a hold rating to a buy rating in a report on Thursday, July 13th. Piper Jaffray Companies reaffirmed a hold rating and issued a $15.00 price target on shares of Fossil Group in a report on Friday, July 14th. Zacks Investment Research raised shares of Fossil Group from a strong sell rating to a hold rating in a research note on Monday, July 17th. BidaskClub raised shares of Fossil Group from a sell rating to a hold rating in a research note on Wednesday, July 19th. Finally, Wells Fargo & Company reissued an underperform rating and set a $8.00 target price on shares of Fossil Group in a research note on Thursday, August 3rd. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $15.43.

Fossil Group (FOSL) traded up $0.92 during trading hours on Wednesday, reaching $6.60. 4,869,500 shares of the company’s stock traded hands, compared to its average volume of 2,274,204. Fossil Group has a one year low of $5.50 and a one year high of $36.87. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.66 and a current ratio of 2.32. The stock has a market capitalization of $320.28, a price-to-earnings ratio of 8.05 and a beta of 0.77.

Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings results on Tuesday, November 7th. The accessories brand company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.28) by $0.32. Fossil Group had a negative net margin of 12.33% and a positive return on equity of 4.75%. The company had revenue of $689.00 million for the quarter, compared to analyst estimates of $649.87 million. During the same period in the prior year, the company earned $0.36 earnings per share. The firm’s revenue was down 6.6% on a year-over-year basis. research analysts predict that Fossil Group will post -0.17 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This piece of content was originally posted by Markets Daily and is owned by of Markets Daily. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece of content can be viewed at https://www.themarketsdaily.com/2017/11/12/fossil-group-inc-fosl-price-target-cut-to-5-00.html.

In other news, insider Gregory A. Mckelvey purchased 5,712 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was acquired at an average price of $8.73 per share, for a total transaction of $49,865.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James M. Zimmerman purchased 36,000 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were purchased 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. In the last quarter, insiders acquired 82,147 shares of company stock valued at $644,806. 12.80% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System increased its holdings in shares of Fossil Group by 0.6% during the 2nd 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 during the last quarter. Arizona State Retirement System increased its holdings in shares of Fossil Group by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 22,000 shares of the accessories brand company’s stock worth $228,000 after buying an additional 100 shares during the last quarter. Texas Permanent School Fund increased its holdings in shares of Fossil Group by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 30,784 shares of the accessories brand company’s stock worth $319,000 after buying an additional 379 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Fossil Group by 1.9% during the 1st quarter. Wells Fargo & Company MN now owns 31,572 shares of the accessories brand company’s stock worth $551,000 after buying an additional 586 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Fossil Group by 3.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,365 shares of the accessories brand company’s stock worth $357,000 after buying an additional 1,288 shares during the last quarter.

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.

Analyst Recommendations for Fossil Group (NASDAQ:FOSL)

Receive News & Ratings for Fossil Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fossil Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply