Northland Securities Initiates Coverage on Fossil Group (NASDAQ:FOSL)

Analysts at Northland Securities started coverage on shares of Fossil Group (NASDAQ:FOSL) in a research report issued on Thursday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $7.00 price target on the accessories brand company’s stock. Northland Securities’ target price suggests a potential upside of 49.89% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fossil Group in a research report on Thursday, January 22nd. Wall Street Zen cut shares of Fossil Group from a “buy” rating to a “hold” rating in a research report on Sunday, October 26th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.00.

Fossil Group Stock Performance

NASDAQ FOSL opened at $4.67 on Thursday. The stock has a fifty day simple moving average of $3.76 and a 200-day simple moving average of $3.06. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 1.76. The stock has a market cap of $255.17 million, a PE ratio of -3.68 and a beta of 1.75. Fossil Group has a twelve month low of $0.86 and a twelve month high of $4.81.

Insider Activity at Fossil Group

In related news, Director Suzanne M. Coulter acquired 28,170 shares of Fossil Group stock in a transaction dated Wednesday, December 3rd. The shares were acquired at an average cost of $3.62 per share, for a total transaction of $101,975.40. Following the completion of the purchase, the director owned 98,457 shares in the company, valued at approximately $356,414.34. The trade was a 40.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Randy J. Greben bought 20,980 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was bought at an average price of $2.38 per share, with a total value of $49,932.40. Following the completion of the acquisition, the chief financial officer owned 170,980 shares of the company’s stock, valued at $406,932.40. This trade represents a 13.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Fossil Group

Several large investors have recently bought and sold shares of FOSL. Kanen Wealth Management LLC purchased a new position in shares of Fossil Group in the 4th quarter valued at about $5,515,000. Empowered Funds LLC raised its holdings in Fossil Group by 10.4% in the fourth quarter. Empowered Funds LLC now owns 114,403 shares of the accessories brand company’s stock valued at $430,000 after acquiring an additional 10,824 shares in the last quarter. Millennium Management LLC raised its holdings in Fossil Group by 115.0% in the fourth quarter. Millennium Management LLC now owns 125,578 shares of the accessories brand company’s stock valued at $472,000 after acquiring an additional 67,158 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Fossil Group in the fourth quarter worth approximately $113,000. Finally, Bridgeway Capital Management LLC grew its holdings in Fossil Group by 21.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 540,203 shares of the accessories brand company’s stock worth $2,031,000 after acquiring an additional 94,924 shares in the last quarter. Hedge funds and other institutional investors own 61.14% of the company’s stock.

About Fossil Group

Fossil Group, Inc designs, develops, markets and distributes consumer fashion accessories, focusing on lifestyle and wearable technology. The company offers a wide range of products including analog and digital watches, smartwatches, jewelry, handbags, small leather goods and wearable devices. It sells merchandise under its own Fossil brand and via license agreements with international labels such as Michael Kors, Armani Exchange, Burberry, Diesel, DKNY, Kate Spade and Tory Burch. Through its proprietary e-commerce platforms and global retail network, Fossil Group serves markets across North America, Europe, Asia and the Middle East.

The group’s wearable technology segment combines traditional timepieces with features such as fitness tracking, heart-rate monitoring and NFC payments.