Fossil Group (NASDAQ:FOSL) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Fossil Group shares crossed above their 200-day moving average, reaching $7.20 before closing at $6.90, compared with a 200-day average of $4.92.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $9.25; individual targets range from $8 to $12.
• The company beat quarterly estimates with adjusted EPS of -$0.13 versus the expected -$0.29 and revenue of $209.69 million, though it continues to report negative profitability and a high debt-to-equity ratio of 2.74.

Fossil Group, Inc. (NASDAQ:FOSL - Get Free Report) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $4.92 and traded as high as $7.20. Fossil Group shares last traded at $6.90, with a volume of 579,728 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Lake Street Capital began coverage on Fossil Group in a report on Wednesday, October 7th. They issued a "buy" rating and a $10.00 price objective for the company. Craig Hallum assumed coverage on 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 target price on Fossil Group in a report on Thursday, August 13th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Fossil Group in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $9.25.

Fossil Group Stock Performance

The company has a quick ratio of 1.05, a current ratio of 1.76 and a debt-to-equity ratio of 2.74. The company has a market cap of $408.07 million, a PE ratio of -5.39 and a beta of 1.55. The business's fifty day moving average is $5.78 and its 200-day moving average is $4.92.

Fossil Group (NASDAQ:FOSL - Get Free Report) last announced its earnings results on Wednesday, August 12th. The accessories brand company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $209.69 million during the quarter, compared to analyst estimates of $199.33 million. As a group, research analysts predict that Fossil Group, Inc. will post -0.04 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new stake in Fossil Group during the 2nd quarter worth approximately $34,000. The Manufacturers Life Insurance Company bought a new stake in Fossil Group during the 2nd quarter valued at approximately $64,000. Texas Capital Bank Wealth Management Services Inc bought a new stake in Fossil Group during the 2nd quarter valued at approximately $73,000. State of Wyoming bought a new stake in Fossil Group during the 2nd quarter valued at approximately $101,000. Finally, Cannon Global Investment Management LLC purchased a new position in Fossil Group in the 1st quarter worth approximately $110,000. Institutional investors own 61.14% of the company's stock.

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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