Fossil Group (FOSL) Stock Price Up 7.7% Following Earnings Beat

Fossil Group Inc (NASDAQ:FOSL)’s share price rose 7.7% during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $9.14 and last traded at $9.04. Approximately 5,871,724 shares traded hands during trading, an increase of 149% from the average daily volume of 2,353,787 shares. The stock had previously closed at $8.39.

The accessories brand company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.40 by $0.24. Fossil Group had a negative net margin of 17.15% and a positive return on equity of 0.61%. The business had revenue of $920.80 million for the quarter, compared to the consensus estimate of $890.47 million. During the same period last year, the company earned $1.03 EPS.

FOSL has been the topic of several recent research reports. Buckingham Research cut their target price on shares of Fossil Group from $9.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 8th. Bank of America lowered their price target on shares of Fossil Group from $7.00 to $4.00 and set an “underperform” rating for the company in a report on Wednesday, November 8th. Zacks Investment Research upgraded shares of Fossil Group from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. BidaskClub upgraded shares of Fossil Group from a “hold” rating to a “buy” rating in a report on Tuesday, January 16th. Finally, ValuEngine lowered shares of Fossil Group from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $12.75.

In related news, EVP Martin Frey acquired 7,500 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was bought at an average price of $7.41 per share, for a total transaction of $55,575.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 12.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Shell Asset Management Co. bought a new stake in shares of Fossil Group in the 3rd quarter valued at $652,000. GSA Capital Partners LLP bought a new stake in shares of Fossil Group in the 2nd quarter valued at $120,000. BlueCrest Capital Management Ltd bought a new stake in shares of Fossil Group in the 2nd quarter valued at $130,000. KBC Group NV increased its stake in shares of Fossil Group by 167.9% in the 3rd quarter. KBC Group NV now owns 13,441 shares of the accessories brand company’s stock valued at $125,000 after acquiring an additional 8,424 shares in the last quarter. Finally, Unison Advisors LLC bought a new stake in shares of Fossil Group in the 4th quarter valued at $107,000. Institutional investors own 92.48% of the company’s stock.

The firm has a market cap of $438.69, a P/E ratio of 90.40 and a beta of 0.65. The company has a current ratio of 2.32, a quick ratio of 1.09 and a debt-to-equity ratio of 0.68.

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Fossil Group Company Profile

Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments include Americas, Europe and Asia. Each segment includes sales to wholesale and distributor customers, and sales through the Company-owned retail stores and e-commerce activities based on the location of the selling entity.

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