Northland Securities Begins Coverage on Fossil Group (NASDAQ:FOSL)

Equities research analysts at Northland Securities began coverage on shares of Fossil Group (NASDAQ:FOSL) in a note issued to investors on Thursday, MarketBeat reports. The brokerage set an “outperform” rating and a $7.00 price target on the accessories brand company’s stock. Northland Securities’ price target would indicate a potential upside of 74.13% from the stock’s previous close.

Several other research firms have also commented on FOSL. Wall Street Zen lowered shares of Fossil Group from a “buy” rating to a “hold” rating in a research report on Sunday, October 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fossil Group in a report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Fossil Group Stock Performance

NASDAQ:FOSL opened at $4.02 on Thursday. The company has a market cap of $219.65 million, a price-to-earnings ratio of -3.17 and a beta of 1.75. Fossil Group has a 1 year low of $0.86 and a 1 year high of $4.49. The stock’s 50 day simple moving average is $3.74 and its two-hundred day simple moving average is $3.03. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.56 and a quick ratio of 1.00.

Insider Transactions at Fossil Group

In other Fossil Group news, CFO Randy J. Greben bought 20,980 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were purchased at an average price of $2.38 per share, with a total value of $49,932.40. Following the completion of the purchase, the chief financial officer owned 170,980 shares in the company, valued at $406,932.40. This represents a 13.99% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Suzanne M. Coulter purchased 28,170 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were acquired at an average cost of $3.62 per share, with a total value of $101,975.40. Following the completion of the purchase, the director directly owned 98,457 shares in the company, valued at $356,414.34. The trade was a 40.08% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 59,150 shares of company stock worth $175,608 over the last three months. 2.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Fossil Group

Large investors have recently made changes to their positions in the stock. Carrera Capital Advisors bought a new position in shares of Fossil Group in the fourth quarter worth about $38,000. Bridgeway Capital Management LLC boosted its position in Fossil Group by 2.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 425,182 shares of the accessories brand company’s stock valued at $629,000 after buying an additional 10,249 shares during the period. Empowered Funds LLC grew its stake in Fossil Group by 10.4% in the 4th quarter. Empowered Funds LLC now owns 114,403 shares of the accessories brand company’s stock worth $430,000 after acquiring an additional 10,824 shares in the last quarter. Wexford Capital LP bought a new position in Fossil Group in the 3rd quarter worth about $28,000. Finally, EHP Funds Inc. purchased a new position in shares of Fossil Group during the third quarter worth approximately $28,000. 61.14% of the stock is owned by hedge funds and other institutional investors.

About Fossil Group

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.