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

Key Points

• Fossil Group has been downgraded to a "hold" rating by Wall Street Zen, transitioning from a previous "buy" rating.
• Despite the downgrade, Maxim Group has initiated coverage on Fossil Group with a "buy" rating and a price target of $5.00.
• The company's most recent earnings report showed a revenue of $220.40 million, surpassing analyst estimates and resulting in a smaller loss per share than expected.

Fossil Group (NASDAQ:FOSL - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Sunday.

Separately, Maxim Group began coverage on shares of Fossil Group in a research report on Tuesday, July 1st. They issued a "buy" rating and a $5.00 price objective for the company. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $5.00.

Fossil Group Price Performance

Shares of NASDAQ FOSL traded up $0.08 on Friday, hitting $3.05. The company's stock had a trading volume of 182,949 shares, compared to its average volume of 436,050. Fossil Group has a 12-month low of $0.86 and a 12-month high of $3.58. The company has a market capitalization of $163.76 million, a price-to-earnings ratio of -2.75 and a beta of 2.21. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.83 and a quick ratio of 1.17. The stock has a 50 day moving average of $2.45 and a 200-day moving average of $1.70.

Fossil Group (NASDAQ:FOSL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The accessories brand company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.11. Fossil Group had a negative net margin of 5.49% and a negative return on equity of 12.07%. The company had revenue of $220.40 million for the quarter, compared to the consensus estimate of $198.04 million.

Hedge Funds Weigh In On Fossil Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC acquired a new position in Fossil Group during the fourth quarter worth approximately $29,000. Jane Street Group LLC increased its position in Fossil Group by 93.1% during the first quarter. Jane Street Group LLC now owns 42,584 shares of the accessories brand company's stock worth $49,000 after purchasing an additional 20,530 shares during the last quarter. XTX Topco Ltd acquired a new position in Fossil Group during the second quarter worth approximately $122,000. Northern Trust Corp increased its position in Fossil Group by 17.2% during the fourth quarter. Northern Trust Corp now owns 117,199 shares of the accessories brand company's stock worth $196,000 after purchasing an additional 17,221 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Fossil Group by 356.9% during the first quarter. American Century Companies Inc. now owns 129,025 shares of the accessories brand company's stock worth $148,000 after purchasing an additional 100,783 shares during the last quarter. Institutional investors and hedge funds own 61.14% of the company's stock.

Fossil Group Company Profile

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. The company's products include traditional watches, smartwatches, jewelry, handbags, small leather goods, belts, and sunglasses.