Fossil Group (FOSL) Upgraded at BidaskClub

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Fossil Group (NASDAQ:FOSL) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

A number of other brokerages also recently weighed in on FOSL. KeyCorp began coverage on Fossil Group in a research note on Monday, July 9th. They issued an “overweight” rating on the stock. Zacks Investment Research downgraded Fossil Group from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Telsey Advisory Group raised their price objective on Fossil Group from $16.00 to $27.00 and gave the company a “market perform” rating in a research note on Friday, August 3rd. ValuEngine downgraded Fossil Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 2nd. Finally, TheStreet raised Fossil Group from a “d” rating to a “c-” rating in a report on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $19.20.

Shares of FOSL stock opened at $21.71 on Tuesday. The company has a current ratio of 2.11, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. Fossil Group has a twelve month low of $5.50 and a twelve month high of $32.17. The company has a market capitalization of $1.16 billion, a P/E ratio of 434.20 and a beta of -0.12.

Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings data on Tuesday, August 7th. The accessories brand company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.65. Fossil Group had a negative return on equity of 1.21% and a negative net margin of 5.13%. The business had revenue of $576.60 million for the quarter, compared to the consensus estimate of $571.95 million. On average, research analysts forecast that Fossil Group will post 0.77 EPS for the current year.

In other news, EVP Darren E. Hart sold 25,662 shares of Fossil Group stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $26.30, for a total transaction of $674,910.60. Following the sale, the executive vice president now owns 116,325 shares of the company’s stock, valued at approximately $3,059,347.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gregory A. Mckelvey sold 26,138 shares of Fossil Group stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $26.00, for a total value of $679,588.00. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.

Large investors have recently made changes to their positions in the company. Palo Capital Inc. bought a new position in shares of Fossil Group during the 3rd quarter worth approximately $156,000. Xact Kapitalforvaltning AB bought a new position in shares of Fossil Group during the 2nd quarter worth approximately $207,000. United Services Automobile Association bought a new position in shares of Fossil Group during the 2nd quarter worth approximately $220,000. Teacher Retirement System of Texas bought a new position in shares of Fossil Group during the 2nd quarter worth approximately $238,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Fossil Group during the 2nd quarter worth approximately $240,000. 91.33% of the stock is currently owned by institutional investors.

Fossil Group Company Profile

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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