Fossil Group (NASDAQ:FOSL) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

by · The Markets Daily

Fossil Group, Inc. (NASDAQ:FOSL – Get Free Report)’s stock price passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $5.02 and traded as high as $6.84. Fossil Group shares last traded at $6.55, with a volume of 706,145 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FOSL shares. Craig Hallum started coverage on Fossil Group in a research note on Thursday, September 10th. They issued a “buy” rating and a $12.00 target price for the company. Northland Securities set a $8.00 price objective on shares of Fossil Group in a research report on Thursday, August 13th. Lake Street Capital began coverage on shares of Fossil Group in a research report on Wednesday, October 7th. They set a “buy” rating and a $10.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Fossil Group in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.25.

Check Out Our Latest Stock Analysis on Fossil Group

Fossil Group Stock Performance

The company has a current ratio of 1.76, a quick ratio of 1.05 and a debt-to-equity ratio of 2.74. The stock has a market cap of $390.31 million, a P/E ratio of -5.16 and a beta of 1.55. The stock has a 50 day simple moving average of $5.96 and a 200 day simple moving average of $5.03.

Fossil Group (NASDAQ:FOSL – Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The accessories brand company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.16. Fossil Group had a negative net margin of 7.09% and a negative return on equity of 59.76%. The company had revenue of $209.69 million during the quarter, compared to the consensus estimate of $199.33 million. On average, equities analysts expect that Fossil Group, Inc. will post -0.04 earnings per share for the current year.

Insider Activity

In related news, Director Pamela J. Edwards acquired 7,208 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were bought at an average cost of $5.58 per share, with a total value of $40,220.64. Following the completion of the purchase, the director directly owned 50,251 shares in the company, valued at $280,400.58. The trade was a 16.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 3.80% of the stock is owned by company insiders.

Institutional Trading of Fossil Group

Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new stake in Fossil Group during the 2nd quarter worth approximately $34,000. The Manufacturers Life Insurance Company purchased a new stake in Fossil Group in the second quarter worth $64,000. Texas Capital Bank Wealth Management Services Inc bought a new position in Fossil Group during the 2nd quarter valued at approximately $73,000. State of Wyoming bought a new position in shares of Fossil Group during the second quarter valued at $101,000. Finally, Cannon Global Investment Management LLC bought a new position in Fossil Group in the first quarter worth approximately $110,000. Institutional investors and hedge funds own 61.14% of the company’s stock.

Fossil Group Company Profile

(Get Free Report)

Fossil Group, Inc is a global design, sourcing, marketing and distribution company focused primarily on watches and accessories. Its products include traditional watches, jewelry, handbags, small leather goods and other fashion accessories sold through company-operated and third-party retail stores, e-commerce channels and wholesale partners.

The company markets products under its Fossil, Skagen, Michele and Relic brands, as well as through various licensed brand relationships. Fossil Group was founded in 1984 and is headquartered in Richardson, Texas.

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