Fossil Group (NASDAQ:FOSL) Rating Increased to Buy at Wall Street Zen

Key Points

• Fossil Group has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, reflecting increased investor confidence.
• The stock currently has a market cap of $128 million and a 52-week price range between $0.86 and $4.40.
• For its latest earnings report, Fossil Group exceeded expectations with a revenue of $220.40 million, surpassing the forecast of $198.04 million.

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

FOSL has been the subject of several other reports. Maxim Group started coverage on Fossil Group in a research report on Tuesday, July 1st. They set a "buy" rating and a $5.00 target price for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Fossil Group in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $5.00.

Fossil Group Price Performance

Fossil Group stock opened at $2.38 on Friday. Fossil Group has a 52 week low of $0.86 and a 52 week high of $4.40. The business has a 50-day simple moving average of $2.82 and a 200 day simple moving average of $1.88. The company has a quick ratio of 1.17, a current ratio of 1.83 and a debt-to-equity ratio of 1.24. The stock has a market cap of $128.00 million, a price-to-earnings ratio of -2.14 and a beta of 2.17.

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

Institutional Investors Weigh In On Fossil Group

Hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake 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. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Fossil Group by 85.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 224,530 shares of the accessories brand company's stock valued at $258,000 after acquiring an additional 103,203 shares during the last quarter. Nantahala Capital Management LLC lifted its stake in shares of Fossil Group by 25.9% in the 1st quarter. Nantahala Capital Management LLC now owns 4,189,177 shares of the accessories brand company's stock valued at $4,818,000 after acquiring an additional 862,500 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Fossil Group by 43.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 144,375 shares of the accessories brand company's stock valued at $166,000 after acquiring an additional 43,849 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Fossil Group by 0.5% in the 2nd 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 during the last quarter. Institutional investors own 61.14% of the company's stock.

About Fossil Group

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.

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