Fossil Group (NASDAQ:FOSL) Coverage Initiated by Analysts at Lake Street Capital

Key Points

• Lake Street Capital initiated coverage of Fossil Group with a “buy” rating and a $10 price target, implying approximately 41.6% upside from the reported $7.06 share price.
• Analyst sentiment is generally positive: Fossil has a consensus “Moderate Buy” rating and an average price target of $9.25, though Weiss Ratings maintains a “sell” rating.
• Fossil’s latest quarterly results beat expectations, with an adjusted loss of $0.13 per share versus the anticipated $0.29 loss and revenue of $209.69 million versus the $199.33 million consensus estimate.

Equities researchers at Lake Street Capital initiated coverage on shares of Fossil Group (NASDAQ:FOSL - Get Free Report) in a note issued to investors on Wednesday, Briefing.com reports. The brokerage set a "buy" rating and a $10.00 price target on the accessories brand company's stock. Lake Street Capital's price objective would indicate a potential upside of 41.64% from the stock's current price.

Several other equities analysts have also weighed in on the company. Northland Securities set a $8.00 target price on Fossil Group in a research note on Thursday, August 13th. Craig Hallum began coverage on Fossil Group in a report on Thursday, September 10th. They set a "buy" rating and a $12.00 target price on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Fossil Group in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $9.25.

Fossil Group Trading Down 2.2%

Shares of NASDAQ FOSL opened at $7.06 on Wednesday. The company's 50 day simple moving average is $5.57 and its 200 day simple moving average is $4.79. Fossil Group has a fifty-two week low of $1.70 and a fifty-two week high of $7.33. The firm has a market capitalization of $417.53 million, a P/E ratio of -5.52 and a beta of 1.55. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.76 and a quick ratio of 1.05.

Fossil Group (NASDAQ:FOSL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The accessories brand company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.16. The firm had revenue of $209.69 million for the quarter, compared to analysts' expectations of $199.33 million. Fossil Group had a negative net margin of 7.09% and a negative return on equity of 59.76%. On average, analysts predict that Fossil Group will post -0.04 EPS for the current year.

Insider Transactions at Fossil Group

In other news, Director Pamela J. Edwards purchased 7,208 shares of the company's stock in a transaction on Thursday, August 20th. The shares were purchased at an average price of $5.58 per share, with a total value of $40,220.64. Following the purchase, the director directly owned 50,251 shares of the company's stock, valued at $280,400.58. This trade represents a 16.75% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FOSL. Nantahala Capital Management LLC bought a new stake in Fossil Group in the 2nd quarter valued at approximately $22,791,230. BlackRock Inc. acquired a new position in Fossil Group during the 2nd quarter worth approximately $15,263,000. Miller Value Partners LLC bought a new position in shares of Fossil Group during the 2nd quarter worth approximately $8,874,000. Fund 1 Investments LLC bought a new position in shares of Fossil Group during the 2nd quarter worth approximately $2,223,000. Finally, Sei Investments Co. raised its holdings in shares of Fossil Group by 107.6% in the first quarter. Sei Investments Co. now owns 253,771 shares of the accessories brand company's stock valued at $1,094,000 after purchasing an additional 131,531 shares during the last quarter. 61.14% of the stock is owned by institutional investors and hedge funds.

Fossil Group Company Profile

Fossil Group, Inc is a global design, marketing and distribution company focused on consumer lifestyle accessories. The company is best known for watches and also offers jewelry, handbags, small leather goods and other accessories.

Fossil Group markets products under its owned brands, including Fossil, Skagen, Michele and Zodiac, as well as through licensed and other brand relationships. Its products are sold through company-operated and third-party retail stores, e-commerce platforms and other distribution channels.

Founded in 1984 by Tom Kartsotis, the company is headquartered in Richardson, Texas, and serves customers in markets across North America, Europe, Asia and other international regions.

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