Fossil Group (FOSL) Hits New 52-Week High and Low at $20.35

Fossil Group Inc (NASDAQ:FOSL)’s share price reached a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $20.35 and last traded at $20.40, with a volume of 51579 shares trading hands. The stock had previously closed at $19.35.

A number of equities analysts have issued reports on FOSL shares. BidaskClub downgraded Fossil Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 21st. Zacks Investment Research upgraded Fossil Group from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Friday, May 11th. ValuEngine upgraded Fossil Group from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Telsey Advisory Group lifted their price target on Fossil Group from $7.00 to $15.00 and gave the company a “market perform” rating in a research note on Wednesday, February 14th. Finally, KeyCorp reiterated an “overweight” rating and set a $25.00 price target (up previously from $15.00) on shares of Fossil Group in a research note on Wednesday, February 14th. Four analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $13.00.

The company has a market cap of $1.01 billion, a PE ratio of 410.40, a PEG ratio of 17.50 and a beta of -0.11. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.21 and a quick ratio of 1.19.

Fossil Group (NASDAQ:FOSL) last released its quarterly earnings results on Tuesday, May 8th. The accessories brand company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.03). The company had revenue of $569.20 million for the quarter, compared to analyst estimates of $539.08 million. Fossil Group had a negative net margin of 17.23% and a negative return on equity of 4.36%. Fossil Group’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted ($1.00) EPS. equities research analysts expect that Fossil Group Inc will post 0.23 earnings per share for the current year.

In other news, CEO Kosta N. Kartsotis sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $12.58, for a total value of $251,600.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 679,972 shares of company stock worth $9,041,909 in the last 90 days. Company insiders own 8.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of Fossil Group by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 331,842 shares of the accessories brand company’s stock worth $4,214,000 after buying an additional 8,661 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Fossil Group by 170.3% in the 1st quarter. Royal Bank of Canada now owns 16,660 shares of the accessories brand company’s stock worth $212,000 after buying an additional 40,353 shares during the last quarter. Scopia Capital Management LP purchased a new position in shares of Fossil Group in the 1st quarter worth approximately $5,028,000. Think Investments LP purchased a new position in shares of Fossil Group in the 1st quarter worth approximately $5,715,000. Finally, Element Capital Management LLC purchased a new position in shares of Fossil Group in the 1st quarter worth approximately $348,000. Hedge funds and other institutional investors own 94.08% of the company’s stock.

About Fossil Group

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories. The company's principal products include a line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, and sunglasses. It offers its products under its proprietary brands, such as FOSSIL, MICHELE, MISFIT, RELIC, SKAGEN, and ZODIAC, as well as under the licensed brands, including ARMANI EXCHANGE, CHAPS, DIESEL, DKNY, EMPORIO ARMANI, KARL LAGERFELD, KATE SPADE NEW YORK, MARC JACOBS, MICHAEL KORS, and TORY BURCH.

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