Fossil Group Inc (NASDAQ:FOSL) shares were down 8.1% during trading on Thursday . The stock traded as low as $19.07 and last traded at $19.14. Approximately 1,584,188 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 2,223,123 shares. The stock had previously closed at $20.83.
Several research analysts recently commented on FOSL shares. BidaskClub downgraded Fossil Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 30th. Telsey Advisory Group increased their price objective on Fossil Group from $16.00 to $27.00 and gave the company a “market perform” rating in a research note on Friday, August 3rd. TheStreet raised Fossil Group from a “d” rating to a “c-” rating in a research note on Wednesday, August 8th. KeyCorp increased their price objective on Fossil Group from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Wednesday, August 8th. Finally, ValuEngine downgraded Fossil Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $19.20.
The company has a debt-to-equity ratio of 0.52, a current ratio of 2.11 and a quick ratio of 1.13. The firm has a market cap of $1.15 billion, a PE ratio of 382.80 and a beta of -0.12.
Fossil Group (NASDAQ:FOSL) last issued its earnings results on Tuesday, August 7th. The accessories brand company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.65. The company had revenue of $576.60 million during the quarter, compared to analysts’ expectations of $571.95 million. Fossil Group had a negative return on equity of 1.21% and a negative net margin of 5.13%. On average, analysts forecast that Fossil Group Inc will post 0.77 EPS for the current year.
In other Fossil Group news, EVP Darren E. Hart sold 25,662 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $26.30, for a total value of $674,910.60. Following the completion of the sale, the executive vice president now directly owns 116,325 shares in the company, valued at approximately $3,059,347.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gregory A. Mckelvey sold 26,138 shares of the company’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $26.00, for a total value of $679,588.00. The disclosure for this sale can be found here. 8.20% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EAM Investors LLC purchased a new position in shares of Fossil Group during the 2nd quarter worth $879,000. Renaissance Technologies LLC purchased a new position in shares of Fossil Group during the 2nd quarter worth $25,134,000. Laurion Capital Management LP purchased a new position in shares of Fossil Group during the 2nd quarter worth $310,000. Principal Financial Group Inc. grew its holdings in shares of Fossil Group by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 331,842 shares of the accessories brand company’s stock worth $4,214,000 after purchasing an additional 8,661 shares during the period. Finally, Chicago Equity Partners LLC purchased a new position in shares of Fossil Group during the 2nd quarter worth $2,225,000. Institutional investors and hedge funds own 88.87% of the company’s stock.
Fossil Group Company Profile (NASDAQ:FOSL)
Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories. The company's principal products include a line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, and sunglasses. It offers its products under its proprietary brands, such as FOSSIL, MICHELE, MISFIT, RELIC, SKAGEN, and ZODIAC, as well as under the licensed brands, including ARMANI EXCHANGE, CHAPS, DIESEL, DKNY, EMPORIO ARMANI, KARL LAGERFELD, KATE SPADE NEW YORK, MARC JACOBS, MICHAEL KORS, and TORY BURCH.
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