Fossil Group (NASDAQ:FOSL) Rating Increased to Strong-Buy at Craig Hallum

Key Points

• Craig Hallum upgraded Fossil Group to “strong buy,” while the broader analyst consensus remains “moderate buy” with a $9.00 target price.
• Fossil Group’s latest quarterly results exceeded expectations, reporting an adjusted loss of $0.13 per share versus the expected $0.29 loss and revenue of $209.69 million versus estimates of $199.33 million.
• The stock opened at $4.73, with a one-year range of $1.70 to $6.25; institutional investors own 61.14% of outstanding shares, and a company director recently increased her holdings by 16.75%.

Fossil Group (NASDAQ:FOSL - Get Free Report) was upgraded by equities researchers at Craig Hallum to a "strong-buy" rating in a report released on Thursday, Zacks reports.

Other analysts also recently issued research reports about the stock. Northland Securities set a $8.00 price target on shares of Fossil Group in a report on Thursday, August 13th. Wall Street Zen raised Fossil Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Fossil Group in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $9.00.

Fossil Group Price Performance

NASDAQ:FOSL opened at $4.73 on Thursday. Fossil Group has a one year low of $1.70 and a one year high of $6.25. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.05 and a current ratio of 1.76. The stock has a market cap of $279.72 million, a PE ratio of -3.70 and a beta of 1.61. The stock has a 50 day moving average price of $4.91 and a 200 day moving average price of $4.60.

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

Insider Activity at Fossil Group

In other news, Director Pamela J. Edwards acquired 7,208 shares of the company's stock in a transaction dated Thursday, August 20th. The stock was acquired at an average cost of $5.58 per share, with a total value of $40,220.64. Following the completion of the purchase, the director owned 50,251 shares of the company's stock, valued at $280,400.58. This represents a 16.75% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FOSL. Nantahala Capital Management LLC acquired a new stake in Fossil Group during the 2nd quarter worth approximately $22,791,230. BlackRock Inc. purchased a new stake in shares of Fossil Group during the second quarter worth $15,263,000. Ameriprise Financial Inc. raised its stake in shares of Fossil Group by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 2,461,746 shares of the accessories brand company's stock valued at $3,643,000 after acquiring an additional 13,091 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Fossil Group by 4.9% in the third quarter. Vanguard Group Inc. now owns 2,325,204 shares of the accessories brand company's stock valued at $5,976,000 after acquiring an additional 109,316 shares in the last quarter. Finally, Miller Value Partners LLC purchased a new position in Fossil Group in the second quarter valued at $8,874,000. Institutional investors and hedge funds own 61.14% of the company's stock.

Fossil Group Company Profile

Fossil Group, Inc designs, develops, markets and distributes consumer fashion accessories, focusing on lifestyle and wearable technology. The company offers a wide range of products including analog and digital watches, smartwatches, jewelry, handbags, small leather goods and wearable devices. It sells merchandise under its own Fossil brand and via license agreements with international labels such as Michael Kors, Armani Exchange, Burberry, Diesel, DKNY, Kate Spade and Tory Burch. Through its proprietary e-commerce platforms and global retail network, Fossil Group serves markets across North America, Europe, Asia and the Middle East.

The group's wearable technology segment combines traditional timepieces with features such as fitness tracking, heart-rate monitoring and NFC payments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.