Fossil Group, Inc. (NASDAQ:FOSL) Stock Has Average Price Target of $9.25

Key Points

• Analyst consensus is “Moderate Buy” for Fossil Group, with three buy ratings, one strong buy, one hold and one sell. The average 12-month price target is $9.25, above the stock’s reported $6.85 price.
• Fossil Group reported quarterly revenue of $209.69 million and adjusted its loss to $0.13 per share, outperforming consensus estimates of $199.33 million in revenue and a $0.29 loss per share.
• Institutional investors own 61.14% of the company, while insider ownership is 3.80%; director Pamela J. Edwards also increased her holdings by 16.75% through an open-market purchase.

Shares of Fossil Group, Inc. (NASDAQ:FOSL - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $9.25.

Several analysts recently commented on FOSL shares. Lake Street Capital began coverage on Fossil Group in a report on Wednesday, October 7th. They set a "buy" rating and a $10.00 target price on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Fossil Group in a report on Thursday, October 15th. Northland Securities set a $8.00 price objective on Fossil Group in a research report on Thursday, August 13th. Finally, Craig Hallum initiated coverage on shares of Fossil Group in a research note on Thursday, September 10th. They set a "buy" rating and a $12.00 price objective on the stock.

Fossil Group Trading Up 3.0%

NASDAQ FOSL opened at $6.85 on Friday. Fossil Group has a 1 year low of $1.70 and a 1 year high of $7.39. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.76 and a quick ratio of 1.05. The company has a market capitalization of $405.11 million, a PE ratio of -5.35 and a beta of 1.55. The company has a fifty day moving average of $6.05 and a 200 day moving average of $4.81.

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

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FOSL. Nantahala Capital Management LLC acquired a new position in shares of Fossil Group in the second quarter worth about $22,791,230. BlackRock Inc. acquired a new stake in shares of Fossil Group during the 2nd quarter valued at about $15,263,000. Miller Value Partners LLC acquired a new stake in shares of Fossil Group during the 2nd quarter valued at about $8,874,000. Fund 1 Investments LLC purchased a new position in shares of Fossil Group in the 2nd quarter valued at about $2,223,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Fossil Group in the 2nd quarter valued at about $1,053,000. Institutional investors and hedge funds own 61.14% of the company's stock.

Fossil Group Company Profile

Fossil Group, Inc is a global design, sourcing, marketing and distribution company focused primarily on watches and accessories. Its products include traditional watches, jewelry, handbags, small leather goods and other fashion accessories sold through company-operated and third-party retail stores, e-commerce channels and wholesale partners.

The company markets products under its Fossil, Skagen, Michele and Relic brands, as well as through various licensed brand relationships. Fossil Group was founded in 1984 and is headquartered in Richardson, Texas.

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