Fossil Group (FOSL) Shares Gap Down to $8.50

Shares of Fossil Group Inc (NASDAQ:FOSL) gapped down before the market opened on Friday . The stock had previously closed at $9.24, but opened at $8.50. Fossil Group shares last traded at $8.40, with a volume of 1443800 shares changing hands.

Several analysts have issued reports on the company. Buckingham Research lowered Fossil Group from a “neutral” rating to an “underperform” rating in a report on Friday. Zacks Investment Research lowered Fossil Group from a “hold” rating to a “sell” rating in a report on Friday, November 10th. ValuEngine lowered Fossil Group from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Piper Jaffray Companies set a $10.00 price target on Fossil Group and gave the company a “hold” rating in a report on Thursday, October 12th. Finally, Bank of America cut their price target on Fossil Group from $7.00 to $4.00 and set an “underperform” rating for the company in a report on Wednesday, November 8th. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. Fossil Group presently has an average rating of “Hold” and a consensus target price of $11.35.

The firm has a market capitalization of $404.72, a P/E ratio of -1.16 and a beta of 0.75. The company has a quick ratio of 1.09, a current ratio of 2.32 and a debt-to-equity ratio of 0.68.

Fossil Group (NASDAQ:FOSL) last released its quarterly earnings data on Tuesday, November 7th. The accessories brand company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.32. The firm had revenue of $689.00 million during the quarter, compared to analyst estimates of $649.87 million. Fossil Group had a positive return on equity of 4.75% and a negative net margin of 12.33%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share. sell-side analysts anticipate that Fossil Group Inc will post -0.22 EPS for the current year.

In other Fossil Group news, EVP Martin Frey acquired 7,500 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was purchased at an average price of $7.41 per share, with a total value of $55,575.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory A. Mckelvey acquired 110,000 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was acquired at an average cost of $6.22 per share, with a total value of $684,200.00. The disclosure for this purchase can be found here. Corporate insiders own 12.80% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AHL Partners LLP bought a new position in shares of Fossil Group in the second quarter worth about $393,000. Numeric Investors LLC bought a new position in Fossil Group during the second quarter valued at approximately $1,630,000. Marshall Wace North America L.P. boosted its stake in Fossil Group by 363.9% during the second quarter. Marshall Wace North America L.P. now owns 67,089 shares of the accessories brand company’s stock valued at $671,000 after buying an additional 52,626 shares during the last quarter. Engineers Gate Manager LP boosted its stake in Fossil Group by 214.8% during the second quarter. Engineers Gate Manager LP now owns 260,043 shares of the accessories brand company’s stock valued at $2,691,000 after buying an additional 177,446 shares during the last quarter. Finally, Royce & Associates LP bought a new position in Fossil Group during the second quarter valued at approximately $2,743,000. 91.83% of the stock is owned by hedge funds and other institutional investors.

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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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