Fossil Group (FOSL) Cut to Sell at BidaskClub

BidaskClub cut shares of Fossil Group (NASDAQ:FOSL) from a hold rating to a sell rating in a report published on Wednesday morning, BidAskClub reports.

FOSL has been the topic of several other research reports. ValuEngine raised shares of Fossil Group from a hold rating to a buy rating in a research report on Wednesday, February 20th. Telsey Advisory Group reissued a market perform rating and set a $17.00 price target on shares of Fossil Group in a research report on Thursday, February 14th. Zacks Investment Research raised shares of Fossil Group from a sell rating to a hold rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Co reduced their price target on shares of Fossil Group from $14.00 to $8.00 and set an underperform rating on the stock in a research report on Thursday, February 14th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $20.00.

Shares of FOSL opened at $11.25 on Wednesday. The stock has a market cap of $559.92 million, a PE ratio of 14.42 and a beta of 0.17. Fossil Group has a 1 year low of $10.81 and a 1 year high of $32.17. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.22 and a current ratio of 1.99.

Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings results on Wednesday, May 8th. The accessories brand company reported ($0.42) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.53) by $0.11. The business had revenue of $465.30 million for the quarter, compared to analysts’ expectations of $453.97 million. Fossil Group had a net margin of 1.34% and a return on equity of 8.88%. The business’s quarterly revenue was down 18.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.99) earnings per share. As a group, analysts predict that Fossil Group will post 0.55 EPS for the current year.

In related news, Chairman Kosta N. Kartsotis sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $15.92, for a total value of $796,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.00% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. FMR LLC raised its holdings in Fossil Group by 0.3% in the first quarter. FMR LLC now owns 7,437,523 shares of the accessories brand company’s stock valued at $102,043,000 after acquiring an additional 20,000 shares in the last quarter. BlueMountain Capital Management LLC raised its holdings in Fossil Group by 1,002.4% in the first quarter. BlueMountain Capital Management LLC now owns 86,329 shares of the accessories brand company’s stock valued at $1,184,000 after acquiring an additional 78,498 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in Fossil Group in the first quarter valued at approximately $145,000. SEI Investments Co acquired a new stake in Fossil Group in the first quarter valued at approximately $141,000. Finally, Hsbc Holdings PLC raised its holdings in Fossil Group by 4.6% in the first quarter. Hsbc Holdings PLC now owns 44,120 shares of the accessories brand company’s stock valued at $606,000 after acquiring an additional 1,939 shares in the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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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