Wall Street Zen Upgrades Fossil Group (NASDAQ:FOSL) to "Buy"

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 report released on Saturday morning.

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

Fossil Group Trading Down 3.2%

Fossil Group stock traded down $0.10 during midday trading on Friday, reaching $3.02. The stock had a trading volume of 309,935 shares, compared to its average volume of 779,885. 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 firm has a market cap of $162.42 million, a price-to-earnings ratio of -2.72 and a beta of 2.21. The company has a fifty day moving average of $2.31 and a 200 day moving average of $1.64. Fossil Group has a 52-week low of $0.86 and a 52-week high of $3.58.

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

Institutional Investors Weigh In On Fossil Group

A number of hedge funds and other institutional investors have recently modified their holdings of FOSL. Fund 1 Investments LLC boosted its position in shares of 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 worth $400,000 after acquiring an additional 169,413 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in Fossil Group by 2.5% during the second quarter. Bridgeway Capital Management LLC now owns 425,182 shares of the accessories brand company's stock valued at $629,000 after purchasing an additional 10,249 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Fossil Group by 0.5% during the second quarter. Ameriprise Financial Inc. now owns 2,461,746 shares of the accessories brand company's stock valued at $3,643,000 after purchasing an additional 13,091 shares during the last quarter. Nantahala Capital Management LLC increased its stake in Fossil Group by 21.5% during the second quarter. Nantahala Capital Management LLC now owns 5,087,803 shares of the accessories brand company's stock valued at $7,530,000 after purchasing an additional 898,626 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Fossil Group during the second quarter worth about $122,000. 61.14% of the stock is currently owned by hedge funds and other institutional investors.

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.