Fossil Group (FOSL) Shares Gap Down to $20.66

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Shares of Fossil Group Inc (NASDAQ:FOSL) gapped down before the market opened on Thursday . The stock had previously closed at $18.31, but opened at $20.66. Fossil Group shares last traded at $23.19, with a volume of 247922 shares traded.

A number of analysts recently issued reports on FOSL shares. ValuEngine downgraded shares of Fossil Group from a “strong-buy” rating to a “buy” rating in a report on Thursday. Telsey Advisory Group raised their price objective on shares of Fossil Group from $16.00 to $27.00 and gave the stock a “market perform” rating in a report on Friday, August 3rd. TheStreet upgraded shares of Fossil Group from a “d” rating to a “c-” rating in a report on Wednesday, August 8th. BidaskClub upgraded shares of Fossil Group from a “hold” rating to a “buy” rating in a report on Thursday, August 16th. Finally, KeyCorp raised their price objective on shares of Fossil Group from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $23.00.

The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 375.80 and a beta of -0.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 2.11.

Fossil Group (NASDAQ:FOSL) last posted its earnings results on Wednesday, November 7th. The accessories brand company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.29. The firm had revenue of $609.00 million during the quarter, compared to the consensus estimate of $616.30 million. Fossil Group had a negative net margin of 4.90% and a positive return on equity of 0.15%. The company’s revenue was down 11.6% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. As a group, analysts expect that Fossil Group Inc will post 0.77 earnings per share for the current fiscal year.

In other news, EVP Darren E. Hart sold 25,662 shares of Fossil Group stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $26.30, for a total value of $674,910.60. Following the completion of the transaction, the executive vice president now owns 116,325 shares in the company, valued at $3,059,347.50. The transaction was disclosed in a 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 dated Wednesday, August 22nd. The stock was sold at an average price of $26.00, for a total transaction of $679,588.00. The disclosure for this sale can be found here. 8.20% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in FOSL. UBS Group AG boosted its position in shares of Fossil Group by 111.7% in the first quarter. UBS Group AG now owns 26,284 shares of the accessories brand company’s stock valued at $334,000 after acquiring an additional 250,953 shares during the period. Royal Bank of Canada boosted its position in shares of Fossil Group by 170.3% in the first quarter. Royal Bank of Canada now owns 16,660 shares of the accessories brand company’s stock valued at $212,000 after acquiring an additional 40,353 shares during the period. Principal Financial Group Inc. boosted its position in shares of Fossil Group by 2.7% in the first quarter. Principal Financial Group Inc. now owns 331,842 shares of the accessories brand company’s stock valued at $4,214,000 after acquiring an additional 8,661 shares during the period. Xact Kapitalforvaltning AB bought a new position in shares of Fossil Group in the second quarter valued at approximately $207,000. Finally, Winslow Asset Management Inc. boosted its position in shares of Fossil Group by 3.8% in the second quarter. Winslow Asset Management Inc. now owns 355,493 shares of the accessories brand company’s stock valued at $9,552,000 after acquiring an additional 13,038 shares during the period. Institutional investors own 91.15% of the company’s stock.

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About Fossil Group (NASDAQ:FOSL)

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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