Fossil Group (NASDAQ:FOSL) Downgraded to Hold Rating by Wall Street Zen

Fossil Group (NASDAQ:FOSL) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Separately, Maxim Group started coverage on shares of Fossil Group in a research report on Tuesday, July 1st. They set a “buy” rating and a $5.00 price target on the stock. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Fossil Group has an average rating of “Buy” and a consensus target price of $5.00.

Fossil Group Stock Performance

NASDAQ FOSL opened at $3.00 on Friday. Fossil Group has a 1 year low of $0.86 and a 1 year high of $3.58. The company has a fifty day moving average price of $2.42 and a 200-day moving average price of $1.69. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.83 and a quick ratio of 1.17. The firm has a market cap of $161.34 million, a price-to-earnings ratio of -2.70 and a beta of 2.21.

Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings results on Wednesday, August 13th. The accessories brand company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.11. The company had revenue of $220.40 million during the quarter, compared to analyst estimates of $198.04 million. Fossil Group had a negative net margin of 5.49% and a negative return on equity of 12.07%.

Institutional Investors Weigh In On Fossil Group

A number of hedge funds and other institutional investors have recently made changes to their positions in FOSL. Bridgeway Capital Management LLC lifted its stake in shares of Fossil Group by 2.5% during the second quarter. Bridgeway Capital Management LLC now owns 425,182 shares of the accessories brand company’s stock worth $629,000 after purchasing an additional 10,249 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Fossil Group by 0.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,461,746 shares of the accessories brand company’s stock valued at $3,643,000 after acquiring an additional 13,091 shares during the last quarter. Northern Trust Corp increased its stake in shares of Fossil Group by 17.2% in the fourth quarter. Northern Trust Corp now owns 117,199 shares of the accessories brand company’s stock worth $196,000 after acquiring an additional 17,221 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Fossil Group during the fourth quarter valued at about $29,000. Finally, Jane Street Group LLC raised its position in Fossil Group by 93.1% in the first quarter. Jane Street Group LLC now owns 42,584 shares of the accessories brand company’s stock worth $49,000 after purchasing an additional 20,530 shares in the last quarter. Hedge funds and other institutional investors own 61.14% of the company’s stock.

Fossil Group Company Profile

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. The company’s products include traditional watches, smartwatches, jewelry, handbags, small leather goods, belts, and sunglasses.