Fossil Group (NASDAQ:FOSL) Share Price Breaks Above 200 Day Moving Average - Should You Sell?

Key Points

• Fossil Group shares broke above their 200-day moving average, reaching $6.84 and last trading at $6.55, compared with the $5.02 long-term average.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $9.25; targets range from $8 to $12, though Weiss Ratings maintained a sell rating.
• The company beat quarterly earnings and revenue expectations, but remains unprofitable, with a negative net margin of 7.09% and negative return on equity of 59.76%. An insider also increased confidence by purchasing 7,208 shares.

Fossil Group, Inc. (NASDAQ:FOSL - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $5.02 and traded as high as $6.84. Fossil Group shares last traded at $6.55, with a volume of 706,145 shares traded.

Analyst Ratings Changes

A number of brokerages recently commented on FOSL. Lake Street Capital began coverage on Fossil Group in a research report on Wednesday, October 7th. They issued a "buy" rating and a $10.00 price target on the stock. Craig Hallum began coverage on shares of Fossil Group in a research report on Thursday, September 10th. They set a "buy" rating and a $12.00 price objective for the company. Northland Securities set a $8.00 price objective on shares of Fossil Group in a research note on Thursday, August 13th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Fossil Group in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Fossil Group currently has an average rating of "Moderate Buy" and a consensus price target of $9.25.

Fossil Group Price Performance

The company has a debt-to-equity ratio of 2.74, a current ratio of 1.76 and a quick ratio of 1.05. The stock has a market cap of $387.37 million, a price-to-earnings ratio of -5.12 and a beta of 1.55. The business's 50-day simple moving average is $5.94 and its two-hundred day simple moving average is $5.02.

Fossil Group (NASDAQ:FOSL - Get Free Report) last posted its earnings results on Wednesday, August 12th. The accessories brand company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $0.16. Fossil Group had a negative net margin of 7.09% and a negative return on equity of 59.76%. The firm had revenue of $209.69 million for the quarter, compared to analysts' expectations of $199.33 million. Research analysts expect that Fossil Group, Inc. will post -0.04 earnings per share for the current year.

Insiders Place Their Bets

In other Fossil Group news, Director Pamela J. Edwards bought 7,208 shares of Fossil Group stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $5.58 per share, with a total value of $40,220.64. Following the acquisition, the director directly owned 50,251 shares of the company's stock, valued at $280,400.58. The trade was a 16.75% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FOSL. Public Employees Retirement System of Ohio bought a new stake in Fossil Group in the second quarter valued at approximately $34,000. The Manufacturers Life Insurance Company acquired a new position in Fossil Group during the 2nd quarter worth approximately $64,000. Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Fossil Group in the 2nd quarter worth $73,000. State of Wyoming acquired a new position in shares of Fossil Group during the second quarter valued at about $101,000. Finally, Cannon Global Investment Management LLC purchased a new position in shares of Fossil Group during the first quarter valued at approximately $110,000. 61.14% of the stock is owned by institutional investors.

Fossil Group Company Profile

Fossil Group, Inc is a global design, marketing and distribution company focused on consumer lifestyle accessories. The company is best known for watches and also offers jewelry, handbags, small leather goods and other accessories.

Fossil Group markets products under its owned brands, including Fossil, Skagen, Michele and Zodiac, as well as through licensed and other brand relationships. Its products are sold through company-operated and third-party retail stores, e-commerce platforms and other distribution channels.

Founded in 1984 by Tom Kartsotis, the company is headquartered in Richardson, Texas, and serves customers in markets across North America, Europe, Asia and other international regions.

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