Fossil Group (NASDAQ:FOSL) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen downgraded Fossil Group (FOSL) from "hold" to "sell", though analyst coverage remains mixed (two Buys, one Hold, one Sell) and MarketBeat's consensus rating is still "Hold" with a $7.00 consensus target price.
• Fossil missed quarterly EPS at -$0.15 versus expectations of $0.02 while beating revenue at $280.5M; the stock trades around $4 with a ~$234M market cap, negative profitability metrics and a 2.0 debt-to-equity ratio.

Fossil Group (NASDAQ:FOSL - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Several other equities research analysts also recently weighed in on the company. Maxim Group raised their price target on Fossil Group from $5.00 to $7.00 and gave the stock a "buy" rating in a report on Thursday, March 12th. Zacks Research upgraded shares of Fossil Group to a "hold" rating in a report on Friday, February 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Fossil Group in a research note on Thursday, January 22nd. Finally, Northland Securities initiated coverage on shares of Fossil Group in a research report on Thursday, February 19th. They set an "outperform" rating and a $7.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $7.00.

Fossil Group Stock Performance

Shares of FOSL stock opened at $4.01 on Friday. Fossil Group has a 12-month low of $0.86 and a 12-month high of $5.00. The business's fifty day simple moving average is $4.06 and its 200-day simple moving average is $3.33. The company has a current ratio of 1.55, a quick ratio of 1.05 and a debt-to-equity ratio of 2.00. The company has a market cap of $233.69 million, a PE ratio of -2.74 and a beta of 1.68.

Fossil Group (NASDAQ:FOSL - Get Free Report) last posted its quarterly earnings data on Wednesday, March 11th. The accessories brand company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.17). Fossil Group had a negative return on equity of 46.78% and a negative net margin of 7.81%.The business had revenue of $280.52 million during the quarter, compared to analyst estimates of $249.28 million.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Fund 1 Investments LLC lifted its holdings in Fossil Group by 168.4% in the second quarter. Fund 1 Investments LLC now owns 270,034 shares of the accessories brand company's stock valued at $400,000 after acquiring an additional 169,413 shares during the period. Mink Brook Asset Management LLC acquired a new stake in shares of Fossil Group during the 3rd quarter worth approximately $386,000. EHP Funds Inc. acquired a new stake in shares of Fossil Group during the 3rd quarter worth approximately $28,000. GSA Capital Partners LLP increased its holdings in shares of Fossil Group by 123.5% during the 3rd quarter. GSA Capital Partners LLP now owns 166,920 shares of the accessories brand company's stock valued at $429,000 after purchasing an additional 92,244 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in shares of Fossil Group during the 3rd quarter valued at approximately $140,000. 61.14% of the stock is owned by institutional investors and hedge funds.

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.

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