Fossil Group (NASDAQ:FOSL) Downgraded by BidaskClub to Sell

BidaskClub downgraded shares of Fossil Group (NASDAQ:FOSL) from a hold rating to a sell rating in a research report sent to investors on Wednesday, May 22nd, BidAskClub reports.

FOSL has been the subject of several other reports. ValuEngine upgraded shares of Fossil Group from a hold rating to a buy rating in a research report on Wednesday, February 20th. Telsey Advisory Group restated a market perform rating and set a $17.00 price objective on shares of Fossil Group in a research report on Thursday, February 14th. Zacks Investment Research upgraded shares of Fossil Group from a sell rating to a hold rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Co lowered their price objective on shares of Fossil Group from $14.00 to $8.00 and set an underperform rating for the company in a research report on Thursday, February 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Fossil Group presently has an average rating of Hold and an average price target of $20.00.

FOSL stock traded down $0.49 during trading hours on Wednesday, reaching $10.20. 626,892 shares of the stock were exchanged, compared to its average volume of 1,605,837. The stock has a market cap of $527.07 million, a PE ratio of 13.08 and a beta of 0.40. The company has a current ratio of 1.99, a quick ratio of 1.22 and a debt-to-equity ratio of 0.86. Fossil Group has a 12 month low of $9.46 and a 12 month high of $32.17.

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

In related news, EVP Martin Frey acquired 5,000 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were purchased at an average price of $9.70 per share, for a total transaction of $48,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Marshall Wace North America L.P. purchased a new stake in Fossil Group in the 1st quarter worth approximately $26,000. Marshall Wace LLP purchased a new stake in Fossil Group in the 1st quarter worth approximately $567,000. FMR LLC lifted its stake in Fossil Group by 0.3% in the 1st quarter. FMR LLC now owns 7,437,523 shares of the accessories brand company’s stock worth $102,043,000 after purchasing an additional 20,000 shares in the last quarter. BlueMountain Capital Management LLC lifted its stake in Fossil Group by 1,002.4% in the 1st quarter. BlueMountain Capital Management LLC now owns 86,329 shares of the accessories brand company’s stock worth $1,184,000 after purchasing an additional 78,498 shares in the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new stake in Fossil Group in the 1st quarter worth approximately $145,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Fossil Group Company Profile

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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