ValuEngine Upgrades Fossil Group (NASDAQ:FOSL) to “Sell”

Fossil Group (NASDAQ:FOSL) was upgraded by investment analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report issued on Friday, ValuEngine reports.

A number of other equities research analysts also recently issued reports on FOSL. BidaskClub upgraded shares of Zebra Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 6th. Zacks Investment Research downgraded shares of Great Portland Estates from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Fossil Group presently has an average rating of “Hold” and an average price target of $20.00.

Shares of FOSL stock traded up $0.44 during midday trading on Friday, reaching $11.48. 773,225 shares of the company traded hands, compared to its average volume of 1,504,477. The business’s 50 day moving average price is $10.83. Fossil Group has a 1-year low of $9.46 and a 1-year high of $29.59. The company has a current ratio of 1.99, a quick ratio of 1.22 and a debt-to-equity ratio of 0.86. The stock has a market cap of $543.99 million, a price-to-earnings ratio of 14.72 and a beta of 0.55.

Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings results on Wednesday, May 8th. The accessories brand company reported ($0.42) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.53) by $0.11. Fossil Group had a net margin of 1.34% and a return on equity of 8.88%. The company had revenue of $465.30 million during the quarter, compared to the consensus estimate of $453.97 million. During the same period last year, the firm earned ($0.99) EPS. The company’s revenue for the quarter was down 18.3% on a year-over-year basis. As a group, equities research analysts expect that Fossil Group will post 0.55 EPS for the current year.

In related news, EVP Martin Frey purchased 5,000 shares of Fossil Group stock in a transaction dated Friday, May 31st. The stock was bought at an average cost of $9.70 per share, for a total transaction of $48,500.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.00% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of FOSL. Marshall Wace North America L.P. acquired a new position in shares of Fossil Group during the 1st quarter worth approximately $26,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Fossil Group during the 1st quarter worth approximately $141,000. Menta Capital LLC acquired a new position in shares of Fossil Group during the 1st quarter worth approximately $151,000. BNP Paribas Arbitrage SA raised its position in shares of Fossil Group by 154.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,786 shares of the accessories brand company’s stock worth $162,000 after purchasing an additional 7,154 shares during the last quarter. Finally, United Services Automobile Association raised its position in shares of Fossil Group by 9.3% during the 4th quarter. United Services Automobile Association now owns 11,045 shares of the accessories brand company’s stock worth $174,000 after purchasing an additional 943 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

About Fossil Group

Fossil Group, Inc designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. Its principal products include men's and women's fashion watches and jewelry, smartwatches, handbags, small leather goods, belts, and sunglasses.

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