Fossil Group, Inc. (NASDAQ:FOSL) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts rate Fossil Group “Moderate Buy”, with two buy ratings, one strong buy, one hold and one sell. The average 12-month price target is $9.00, above the stock’s reported $6.80 opening price.
• Fossil’s latest quarterly results exceeded expectations: the company reported an adjusted loss of $0.13 per share versus the projected $0.29 loss, while revenue reached $209.69 million compared with the $199.33 million consensus estimate.
• Institutional ownership is significant at 61.14%, with several hedge funds recently establishing positions. A company director also bought 7,208 shares at an average price of $5.58, increasing her holdings by 16.75%.

Fossil Group, Inc. (NASDAQ:FOSL - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the five research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $9.00.

Several brokerages have recently commented on FOSL. Northland Securities set a $8.00 price objective on shares of Fossil Group in a report on Thursday, August 13th. Craig Hallum started coverage on shares of Fossil Group in a report on Thursday, September 10th. They issued a "buy" rating and a $12.00 target price for the company. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Fossil Group in a research report on Friday, July 17th.

Fossil Group Stock Performance

Shares of Fossil Group stock opened at $6.80 on Monday. The firm has a market cap of $402.15 million, a PE ratio of -5.31 and a beta of 1.55. The company has a quick ratio of 1.05, a current ratio of 1.76 and a debt-to-equity ratio of 2.74. Fossil Group has a 52 week low of $1.70 and a 52 week high of $7.06. The business's fifty day simple moving average is $5.46 and its 200-day simple moving average is $4.76.

Fossil Group (NASDAQ:FOSL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The accessories brand company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.29) by $0.16. The firm had revenue of $209.69 million during 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%. Equities analysts forecast that Fossil Group will post -0.04 earnings per share for the current year.

Insider Buying and Selling at Fossil Group

In other news, Director Pamela J. Edwards acquired 7,208 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average price of $5.58 per share, for a total transaction of $40,220.64. Following the acquisition, the director owned 50,251 shares of the company's stock, valued at $280,400.58. This represents a 16.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.80% of the company's stock.

Hedge Funds Weigh In On Fossil Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nantahala Capital Management LLC acquired a new position in Fossil Group in the 2nd quarter valued at about $22,791,230. BlackRock Inc. purchased a new position in shares of Fossil Group in the second quarter valued at approximately $15,263,000. Miller Value Partners LLC purchased a new position in shares of Fossil Group in the second quarter valued at approximately $8,874,000. Fund 1 Investments LLC acquired a new position in shares of Fossil Group in the second quarter valued at approximately $2,223,000. Finally, 683 Capital Management LLC purchased a new stake in Fossil Group during the 4th quarter worth approximately $970,000. 61.14% of the stock is currently owned by hedge funds and other institutional investors.

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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