Fossil Group (NASDAQ:FOSL) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Fossil Group (NASDAQ:FOSL) from a sell rating to a hold rating in a report released on Friday, BidAskClub reports.

Several other equities analysts have also recently commented on FOSL. Zacks Investment Research raised shares of Fossil Group from a hold rating to a buy rating and set a $13.00 price objective for the company in a research note on Wednesday, October 23rd. TheStreet cut shares of Fossil Group from a c- rating to a d rating in a research note on Thursday, November 7th. Finally, ValuEngine raised shares of Fossil Group from a buy rating to a strong-buy rating in a research note on Saturday, January 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Fossil Group presently has a consensus rating of Hold and an average target price of $11.00.

Shares of NASDAQ:FOSL opened at $7.78 on Friday. The company has a 50 day moving average of $7.81 and a 200 day moving average of $9.89. The stock has a market cap of $406.69 million, a P/E ratio of 259.33 and a beta of 0.28. Fossil Group has a 12 month low of $6.83 and a 12 month high of $17.78. The company has a current ratio of 2.06, a quick ratio of 0.99 and a debt-to-equity ratio of 1.04.

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

In related news, EVP Gregory A. Mckelvey bought 8,550 shares of the company’s stock in a transaction on Monday, November 18th. The stock was acquired at an average cost of $7.25 per share, for a total transaction of $61,987.50. Following the completion of the transaction, the executive vice president now directly owns 525,257 shares in the company, valued at approximately $3,808,113.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. California Public Employees Retirement System lifted its position in Fossil Group by 138.5% during the fourth quarter. California Public Employees Retirement System now owns 192,639 shares of the accessories brand company’s stock valued at $1,518,000 after purchasing an additional 111,872 shares during the last quarter. New York State Teachers Retirement System lifted its position in Fossil Group by 29.8% during the fourth quarter. New York State Teachers Retirement System now owns 120,155 shares of the accessories brand company’s stock valued at $947,000 after purchasing an additional 27,568 shares during the last quarter. Maverick Capital Ltd. bought a new stake in Fossil Group during the third quarter valued at approximately $7,019,000. Public Employees Retirement System of Ohio lifted its position 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 valued at $1,553,000 after purchasing an additional 12,053 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position 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 valued at $1,060,000 after purchasing an additional 2,052 shares during the last quarter. Institutional investors and hedge funds own 97.55% of the company’s stock.

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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