Fossil Group (NASDAQ:FOSL – Get Free Report) was upgraded by research analysts at Craig Hallum to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks reports.
A number of other brokerages have also weighed in on FOSL. Wall Street Zen upgraded Fossil Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fossil Group in a research report on Friday, July 17th. Finally, Northland Securities set a $8.00 price objective on shares of Fossil Group in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.00.
View Our Latest Report on Fossil Group
Fossil Group Trading Up 5.3%
Fossil Group (NASDAQ:FOSL – Get Free Report) last announced its earnings results on Wednesday, August 12th. The accessories brand company reported ($0.13) earnings per share (EPS) 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 business had revenue of $209.69 million during the quarter, compared to analysts’ expectations of $199.33 million. Equities analysts anticipate that Fossil Group will post -0.04 earnings per share for the current fiscal year.
Insider Transactions at Fossil Group
In other news, Director Pamela J. Edwards purchased 7,208 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was bought at an average price of $5.58 per share, with a total value of $40,220.64. Following the acquisition, the director directly owned 50,251 shares of the company’s stock, valued at approximately $280,400.58. This represents a 16.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.80% of the company’s stock.
Institutional Trading of Fossil Group
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Fossil Group in the 2nd quarter valued at $15,263,000. Miller Value Partners LLC acquired a new position in shares of Fossil Group during the 2nd quarter worth about $8,874,000. Nantahala Capital Management LLC bought a new position in shares of Fossil Group in the 2nd quarter valued at about $22,791,230. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Fossil Group in the 2nd quarter valued at about $1,053,000. Finally, Prescott Group Capital Management L.L.C. increased its position in shares of Fossil Group by 1,220.7% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 875,026 shares of the accessories brand company’s stock valued at $3,290,000 after acquiring an additional 808,770 shares during the last quarter. Institutional investors and hedge funds 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.
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