Fossil Group (NASDAQ:FOSL) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Fossil Group shares rose above their 200-day moving average, reaching $6.20 and last trading at $6.16, compared with the moving average of $4.71.
• Analysts maintain a consensus “Moderate Buy” rating with a $9.00 price target, although ratings range from Strong Buy to Sell.
• The company beat quarterly expectations, reporting an adjusted loss of $0.13 per share versus the projected $0.29 loss and revenue of $209.69 million versus the $199.33 million consensus estimate.

Fossil Group, Inc. (NASDAQ:FOSL - Get Free Report) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $4.71 and traded as high as $6.20. Fossil Group shares last traded at $6.16, with a volume of 477,490 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Fossil Group in a research note on Friday, July 17th. Craig Hallum started coverage on Fossil Group in a research note on Thursday, September 10th. They set a "buy" rating and a $12.00 price objective on the stock. Finally, Northland Securities set a $8.00 target price on Fossil Group in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $9.00.

Fossil Group Stock Up 2.3%

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 firm has a 50 day moving average of $5.30 and a two-hundred day moving average of $4.71. The firm has a market capitalization of $364.30 million, a price-to-earnings ratio of -4.81 and a beta of 1.61.

Fossil Group (NASDAQ:FOSL - Get Free Report) last issued its earnings results on Wednesday, August 12th. The accessories brand company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.16. Fossil Group had a negative return on equity of 59.76% and a negative net margin of 7.09%.The firm had revenue of $209.69 million during the quarter, compared to the consensus estimate of $199.33 million. As a group, sell-side analysts anticipate that Fossil Group, Inc. will post -0.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Pamela J. Edwards bought 7,208 shares of the business's stock in a transaction on Thursday, August 20th. The shares were purchased at an average price of $5.58 per share, for a total transaction of $40,220.64. Following the completion of the transaction, the director directly owned 50,251 shares of the company's stock, valued at approximately $280,400.58. This represents a 16.75% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FOSL. Nantahala Capital Management LLC acquired a new stake in shares of Fossil Group during the 2nd quarter valued at $22,791,230. BlackRock Inc. acquired a new position in Fossil Group in the 2nd quarter worth about $15,263,000. Miller Value Partners LLC acquired a new position in Fossil Group in the 2nd quarter worth about $8,874,000. Fund 1 Investments LLC bought a new position in Fossil Group in the second quarter valued at about $2,223,000. Finally, 683 Capital Management LLC bought a new position in Fossil Group in the fourth quarter valued at about $970,000. 61.14% of the stock is currently owned by institutional investors and hedge funds.

About Fossil Group

Fossil Group, Inc is a global design, marketing and distribution company focused on fashion accessories. The company is best known for its watches, including products sold under the Fossil brand and licensed brands, and also offers jewelry, handbags, small leather goods and other accessories.

Fossil Group sells products through a combination of wholesale customers, company-operated retail stores, e-commerce websites and other direct-to-consumer channels. Its products are distributed across North America, Europe, Asia and other international markets, serving consumers through department stores, specialty retailers and digital platforms.

Founded in 1984 and headquartered in Richardson, Texas, Fossil Group has expanded from its original watch business into a broader accessories company.

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