Piper Jaffray Companies reaffirmed their hold rating on shares of Fossil Group, Inc. (NASDAQ:FOSL) in a research note issued to investors on Friday. The brokerage currently has a $15.00 price objective on the accessories brand company’s stock.
Several other equities analysts have also recently weighed in on the company. Buckingham Research upgraded Fossil Group from an underperform rating to a neutral rating in a report on Tuesday, June 20th. ValuEngine cut Fossil Group from a buy rating to a hold rating in a report on Friday, June 2nd. Vetr cut Fossil Group from a strong-buy rating to a buy rating and set a $18.50 price target for the company. in a report on Monday, April 17th. TheStreet cut Fossil Group from a c- rating to a d+ rating in a report on Thursday, May 11th. Finally, Zacks Investment Research upgraded Fossil Group from a strong sell rating to a hold rating in a report on Monday, May 8th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $19.89.
Shares of Fossil Group (NASDAQ FOSL) traded up 2.67% during mid-day trading on Friday, reaching $10.40. The company’s stock had a trading volume of 1,735,552 shares. Fossil Group has a 12-month low of $8.98 and a 12-month high of $36.87. The company’s 50-day moving average price is $10.94 and its 200-day moving average price is $18.51. The stock has a market capitalization of $504.03 million, a P/E ratio of 20.39 and a beta of 0.71.
Fossil Group (NASDAQ:FOSL) last released its quarterly earnings results on Tuesday, May 9th. The accessories brand company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.21) by $0.14. The firm had revenue of $582 million for the quarter, compared to analysts’ expectations of $590.51 million. Fossil Group had a net margin of 0.84% and a return on equity of 7.59%. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 EPS. On average, equities research analysts forecast that Fossil Group will post $0.84 earnings per share for the current fiscal year.
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In related news, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $11.29, for a total transaction of $12,136,750.00. Following the completion of the transaction, the chairman now owns 4,183,047 shares in the company, valued at approximately $47,226,600.63. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Kosta N. Kartsotis sold 520,281 shares of the business’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 transaction, the chairman now 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. In the last 90 days, insiders have sold 2,220,281 shares of company stock valued at $23,790,210. 12.80% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of FOSL. Fox Run Management L.L.C. acquired a new position in Fossil Group during the second quarter worth about $373,000. Teachers Retirement System of The State of Kentucky boosted its position in Fossil Group by 71.8% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 14,600 shares of the accessories brand company’s stock worth $255,000 after buying an additional 6,100 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in Fossil Group during the first quarter worth about $1,124,000. HighTower Advisors LLC acquired a new position in Fossil Group during the first quarter worth about $1,212,000. Finally, Tudor Investment Corp ET AL acquired a new position in Fossil Group during the first quarter worth about $655,000.
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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