Fossil Group Inc (NASDAQ:FOSL) has received an average rating of “Hold” from the nine ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $16.40.
Several brokerages have weighed in on FOSL. BidaskClub raised shares of Fossil Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 16th. TheStreet raised shares of Fossil Group from a “d” rating to a “c-” rating in a research note on Wednesday, August 8th. KeyCorp upped their price objective on shares of Fossil Group from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 8th. Zacks Investment Research cut shares of Fossil Group from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, Telsey Advisory Group upped their price objective on shares of Fossil Group from $16.00 to $27.00 and gave the stock a “market perform” rating in a research note on Friday, August 3rd.
NASDAQ FOSL opened at $24.68 on Friday. The stock has a market capitalization of $1.22 billion, a P/E ratio of 493.60 and a beta of -0.11. Fossil Group has a twelve month low of $5.50 and a twelve month high of $32.17. The company has a current ratio of 2.11, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52.
Fossil Group (NASDAQ:FOSL) last posted its earnings results on Tuesday, August 7th. The accessories brand company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.65. The business had revenue of $576.60 million for the quarter, compared to analysts’ expectations of $571.95 million. Fossil Group had a negative net margin of 5.13% and a negative return on equity of 1.21%. research analysts anticipate that Fossil Group will post 0.77 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of FOSL. Contrarius Investment Management Ltd grew its stake in Fossil Group by 44.5% during the first quarter. Contrarius Investment Management Ltd now owns 4,721,672 shares of the accessories brand company’s stock worth $59,965,000 after buying an additional 1,454,484 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Fossil Group during the second quarter worth about $25,134,000. Russell Investments Group Ltd. bought a new stake in Fossil Group during the first quarter worth about $5,812,000. Think Investments LP bought a new stake in Fossil Group during the first quarter worth about $5,715,000. Finally, BlackRock Inc. grew its stake in Fossil Group by 7.7% during the second quarter. BlackRock Inc. now owns 6,208,449 shares of the accessories brand company’s stock worth $166,822,000 after buying an additional 442,083 shares during the last quarter. 92.83% of the stock is currently owned by hedge funds and other institutional investors.
Fossil Group Company Profile
Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories. The company's principal products include a line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, and sunglasses. It offers its products under its proprietary brands, such as FOSSIL, MICHELE, MISFIT, RELIC, SKAGEN, and ZODIAC, as well as under the licensed brands, including ARMANI EXCHANGE, CHAPS, DIESEL, DKNY, EMPORIO ARMANI, KARL LAGERFELD, KATE SPADE NEW YORK, MARC JACOBS, MICHAEL KORS, and TORY BURCH.
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