Fossil Group (NASDAQ:FOSL) Rating Increased to Strong-Buy at Craig Hallum

Craig Hallum upgraded shares of Fossil Group (NASDAQ:FOSL) to a strong-buy rating in a research report report published on Thursday,Zacks reports.

Several other equities analysts have also recently weighed in on FOSL. Northland Securities set a $8.00 price target on Fossil Group in a report on Thursday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fossil Group in a research report on Friday, July 17th. Finally, Wall Street Zen raised shares of Fossil Group from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.00.

Fossil Group Stock Performance

FOSL opened at $4.73 on Thursday. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.05 and a current ratio of 1.76. The stock has a market capitalization of $279.72 million, a price-to-earnings ratio of -3.70 and a beta of 1.61. The company has a fifty day moving average of $4.91 and a 200 day moving average of $4.60. Fossil Group has a fifty-two week low of $1.70 and a fifty-two week high of $6.25.

Fossil Group (NASDAQ:FOSL) last released its quarterly earnings data on Wednesday, August 12th. The accessories brand company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.16. Fossil Group had a negative net margin of 7.09% and a negative return on equity of 59.76%. The business had revenue of $209.69 million during the quarter, compared to the consensus estimate of $199.33 million. As a group, sell-side analysts forecast that Fossil Group will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Pamela J. Edwards acquired 7,208 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were acquired at an average cost of $5.58 per share, for a total transaction of $40,220.64. Following the completion of the transaction, the director directly owned 50,251 shares in the company, valued at approximately $280,400.58. This trade represents a 16.75% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Fossil Group

Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new stake in Fossil Group during the 2nd quarter valued at $34,000. Bridgeway Capital Management LLC boosted its stake in 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 buying an additional 10,249 shares during the period. Dimensional Fund Advisors LP increased its position in Fossil Group by 6.8% during the first quarter. Dimensional Fund Advisors LP now owns 163,035 shares of the accessories brand company’s stock valued at $702,000 after acquiring an additional 10,399 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Fossil Group by 9.3% in the first quarter. Empowered Funds LLC now owns 124,999 shares of the accessories brand company’s stock valued at $539,000 after acquiring an additional 10,596 shares during the period. Finally, Wexford Capital LP purchased a new stake in shares of Fossil Group in the third quarter valued at $28,000. 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.