BidaskClub Downgrades Fossil Group (NASDAQ:FOSL) to Sell

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Fossil Group (NASDAQ:FOSL) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, BidAskClub reports.

A number of other equities analysts also recently commented on FOSL. ValuEngine downgraded shares of Fossil Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 10th. Zacks Investment Research upgraded shares of Fossil Group from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Wednesday, October 23rd. Finally, TheStreet cut shares of Fossil Group from a “c-” rating to a “d” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $11.00.

FOSL stock traded up $0.47 during midday trading on Tuesday, reaching $8.27. 63,254 shares of the company traded hands, compared to its average volume of 1,011,921. The firm has a market capitalization of $420.33 million, a price-to-earnings ratio of 10.63 and a beta of 0.28. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.99 and a current ratio of 2.06. The business has a 50 day moving average of $7.60 and a 200-day moving average of $10.06. Fossil Group has a 52-week low of $6.83 and a 52-week high of $19.32.

Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings results on Wednesday, November 6th. The accessories brand company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.55). The business had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $569.20 million. Fossil Group had a return on equity of 3.84% and a net margin of 0.10%. Research analysts anticipate that Fossil Group will post 0.12 earnings per share for the current year.

In related news, EVP Gregory A. Mckelvey bought 8,550 shares of Fossil Group stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average price of $7.25 per share, with a total value of $61,987.50. Following the acquisition, the executive vice president now owns 525,257 shares of the company’s stock, valued at approximately $3,808,113.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Maverick Capital Ltd. bought a new stake in Fossil Group in the third quarter valued at approximately $7,019,000. Public Employees Retirement System of Ohio boosted its holdings in Fossil Group by 10.8% during the third quarter. Public Employees Retirement System of Ohio now owns 124,103 shares of the accessories brand company’s stock worth $1,553,000 after buying an additional 12,053 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Fossil Group by 2.5% during the third quarter. California State Teachers Retirement System now owns 84,727 shares of the accessories brand company’s stock worth $1,060,000 after buying an additional 2,052 shares in the last quarter. Ancora Advisors LLC purchased a new stake in Fossil Group during the third quarter worth $125,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Fossil Group by 3,247.5% during the third quarter. Tower Research Capital LLC TRC now owns 7,465 shares of the accessories brand company’s stock worth $93,000 after buying an additional 7,242 shares in the last quarter. 97.74% of the stock is owned by institutional investors and hedge funds.

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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