Nomura reissued their hold rating on shares of Fossil Group, Inc. (NASDAQ:FOSL) in a research note released on Friday, May 12th. They currently have a $13.00 target price on the textile maker’s stock.
A number of other equities analysts have also recently issued reports on FOSL. Zacks Investment Research raised Fossil Group from a hold rating to a buy rating and set a $28.00 target price for the company in a report on Tuesday, January 17th. Evercore ISI cut Fossil Group from a buy rating to a hold rating in a report on Wednesday, February 1st. Cowen and Company dropped their price target on Fossil Group from $25.00 to $21.00 and set a hold rating for the company in a report on Thursday, February 9th. Mizuho cut Fossil Group from a neutral rating to an underperform rating and dropped their price target for the company from $25.00 to $19.00 in a report on Friday, February 10th. Finally, Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Fossil Group in a report on Tuesday, February 14th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $20.11.
Fossil Group (FOSL) traded down 1.08% on Friday, reaching $9.20. 3,898,403 shares of the company’s stock were exchanged. The company has a market capitalization of $445.87 million, a PE ratio of 18.04 and a beta of 0.74. Fossil Group has a 1-year low of $8.98 and a 1-year high of $36.87. The company has a 50 day moving average price of $12.84 and a 200-day moving average price of $20.08.
Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings data on Tuesday, May 9th. The textile maker reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.21) by $0.14. Fossil Group had a return on equity of 7.59% and a net margin of 0.84%. The firm had revenue of $582 million during the quarter, compared to the consensus estimate of $590.51 million. During the same quarter in the prior year, the business posted $0.12 EPS. Fossil Group’s revenue was down 11.8% compared to the same quarter last year. On average, equities research analysts anticipate that Fossil Group will post $0.84 earnings per share for the current year.
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In other Fossil Group news, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $11.29, for a total value of $12,136,750.00. Following the completion of the sale, the chairman now owns 4,183,047 shares of the company’s stock, valued at $47,226,600.63. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Kosta N. Kartsotis sold 520,281 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $10.71, for a total value of $5,572,209.51. Following the completion of the sale, the chairman now directly owns 3,445,546 shares of the company’s stock, valued at approximately $36,901,797.66. The disclosure for this sale can be found here. Insiders have sold 2,220,281 shares of company stock worth $23,790,210 in the last three months. Corporate insiders own 12.80% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in FOSL. Teachers Retirement System of The State of Kentucky boosted its position in shares of Fossil Group by 71.8% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 14,600 shares of the textile maker’s stock worth $255,000 after buying an additional 6,100 shares in the last quarter. Achmea Investment Management B.V. bought a new stake in Fossil Group during the first quarter worth approximately $1,124,000. HighTower Advisors LLC bought a new stake in Fossil Group during the first quarter worth approximately $1,212,000. Tudor Investment Corp ET AL bought a new stake in Fossil Group during the first quarter worth approximately $655,000. Finally, C Partners Holding GmbH bought a new stake in Fossil Group during the first quarter worth approximately $11,652,000. Institutional investors and hedge funds own 97.21% of the company’s stock.
Fossil Group Company Profile
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments include Americas, Europe and Asia. Each segment includes sales to wholesale and distributor customers, and sales through the Company-owned retail stores and e-commerce activities based on the location of the selling entity.
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