Fossil Group (NASDAQ:FOSL) Upgraded at Wall Street Zen
by Sarita Garza · The Markets DailyWall Street Zen upgraded shares of Fossil Group (NASDAQ:FOSL – Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.
FOSL has been the topic of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Fossil Group in a report on Thursday, January 22nd. Zacks Research raised Fossil Group to a “hold” rating in a research note on Friday, February 20th. Northland Securities started coverage on shares of Fossil Group in a research report on Thursday, February 19th. They set an “outperform” rating and a $7.00 price objective for the company. Finally, Maxim Group increased their price objective on shares of Fossil Group from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.00.
View Our Latest Report on Fossil Group
Fossil Group Stock Up 0.2%
NASDAQ FOSL opened at $5.61 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.05 and a debt-to-equity ratio of 2.00. The company has a market cap of $327.34 million, a price-to-earnings ratio of -3.84 and a beta of 1.74. The company has a 50 day moving average of $4.51 and a 200-day moving average of $3.60. Fossil Group has a 1-year low of $0.86 and a 1-year high of $5.74.
Fossil Group (NASDAQ:FOSL – Get Free Report) last issued its quarterly earnings results on Wednesday, March 11th. The accessories brand company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The company had revenue of $280.52 million for the quarter, compared to analyst estimates of $249.28 million. Fossil Group had a negative return on equity of 46.78% and a negative net margin of 7.81%. On average, equities research analysts expect that Fossil Group will post -0.33 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Fossil Group
Hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its holdings in shares of Fossil Group by 43.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 144,375 shares of the accessories brand company’s stock worth $166,000 after buying an additional 43,849 shares in the last quarter. Jane Street Group LLC boosted its stake in Fossil Group by 93.1% in the first quarter. Jane Street Group LLC now owns 42,584 shares of the accessories brand company’s stock valued at $49,000 after buying an additional 20,530 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Fossil Group by 154.1% in the first quarter. Acadian Asset Management LLC now owns 459,023 shares of the accessories brand company’s stock valued at $527,000 after buying an additional 278,391 shares in the last quarter. XTX Topco Ltd bought a new position in Fossil Group in the second quarter valued at about $122,000. Finally, Nantahala Capital Management LLC grew its position in Fossil Group by 21.5% in the second quarter. Nantahala Capital Management LLC now owns 5,087,803 shares of the accessories brand company’s stock valued at $7,530,000 after acquiring an additional 898,626 shares during the last quarter. Institutional investors own 61.14% of the company’s stock.
Fossil Group Company Profile
Fossil Group, Inc designs, develops, markets and distributes consumer fashion accessories, focusing on lifestyle and wearable technology. The company offers a wide range of products including analog and digital watches, smartwatches, jewelry, handbags, small leather goods and wearable devices. It sells merchandise under its own Fossil brand and via license agreements with international labels such as Michael Kors, Armani Exchange, Burberry, Diesel, DKNY, Kate Spade and Tory Burch. Through its proprietary e-commerce platforms and global retail network, Fossil Group serves markets across North America, Europe, Asia and the Middle East.
The group’s wearable technology segment combines traditional timepieces with features such as fitness tracking, heart-rate monitoring and NFC payments.