Fossil Group (NASDAQ:FOSL) Stock Rating Upgraded by Wall Street Zen

Key Points

• Fossil Group (NASDAQ:FOSL) has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating a positive shift in investor sentiment.
• Maxim Group has initiated coverage of Fossil Group with a "buy" rating and a target price of $5.00, reflecting optimism about the company's performance.
• Fossil Group reported earnings that exceeded expectations, with a revenue of $220.40 million for the last quarter, surpassing analyst estimates of $198.04 million.

Wall Street Zen upgraded shares of Fossil Group (NASDAQ:FOSL - Free Report) from a hold rating to a buy rating in a research note released on Saturday.

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

Fossil Group Trading Up 3.9%

FOSL traded up $0.12 during midday trading on Friday, reaching $3.16. 361,293 shares of the company were exchanged, compared to its average volume of 509,408. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.17 and a current ratio of 1.83. Fossil Group has a one year low of $0.86 and a one year high of $3.58. The stock has a market capitalization of $169.94 million, a P/E ratio of -2.85 and a beta of 2.21. The stock's 50-day simple moving average is $2.39 and its 200 day simple moving average is $1.68.

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

Institutional Trading of Fossil Group

A number of institutional investors have recently modified their holdings of FOSL. Squarepoint Ops LLC acquired a new position in shares of Fossil Group during the 4th quarter worth $29,000. Jane Street Group LLC raised its holdings in shares of Fossil Group by 93.1% during the 1st quarter. Jane Street Group LLC now owns 42,584 shares of the accessories brand company's stock worth $49,000 after buying an additional 20,530 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Fossil Group during the 4th quarter worth $63,000. XTX Topco Ltd acquired a new position in shares of Fossil Group during the 2nd quarter worth $122,000. Finally, American Century Companies Inc. raised its holdings in shares of Fossil Group by 356.9% during the 1st quarter. American Century Companies Inc. now owns 129,025 shares of the accessories brand company's stock worth $148,000 after buying an additional 100,783 shares in the last quarter. 61.14% of the stock is currently owned by institutional investors.

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.