Wells Fargo & Company reaffirmed their underperform rating on shares of Fossil Group, Inc. (NASDAQ:FOSL) in a research note published on Friday morning. Wells Fargo & Company currently has a $8.00 target price on the textile maker’s stock, down from their prior target price of $12.00.
A number of other research analysts also recently weighed in on the stock. ValuEngine downgraded shares of Fossil Group from a buy rating to a hold rating in a research report on Friday, June 2nd. Nomura reissued a hold rating and set a $13.00 target price on shares of Fossil Group in a research report on Friday, May 12th. TheStreet downgraded shares of Fossil Group from a c- rating to a d+ rating in a research report on Thursday, May 11th. Instinet reduced their target price on shares of Fossil Group from $15.00 to $13.00 and set a neutral rating for the company in a research report on Wednesday, May 10th. Finally, Cowen and Company reduced their target price on shares of Fossil Group from $15.00 to $12.00 and set a market perform rating for the company in a research report on Wednesday, May 10th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. Fossil Group currently has an average rating of Hold and an average price target of $20.11.
Shares of Fossil Group (NASDAQ FOSL) opened at 9.20 on Friday. Fossil Group has a 12 month low of $8.98 and a 12 month high of $36.87. The firm has a market capitalization of $445.87 million, a P/E ratio of 18.04 and a beta of 0.74. The firm’s 50-day moving average is $12.39 and its 200 day moving average is $19.53.
Fossil Group (NASDAQ:FOSL) last released its earnings results on Tuesday, May 9th. The textile maker reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by $0.14. Fossil Group had a net margin of 0.84% and a return on equity of 7.59%. The company had revenue of $582 million for the quarter, compared to the consensus estimate of $590.51 million. During the same period in the prior year, the company earned $0.12 earnings per share. The firm’s revenue was down 11.8% on a year-over-year basis. On average, equities research analysts anticipate that Fossil Group will post $0.84 EPS for the current year.
COPYRIGHT VIOLATION WARNING: This article was posted by sleekmoney and is owned by of sleekmoney. If you are viewing this article on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The correct version of this article can be read at https://sleekmoney.com/wells-fargo-company-reaffirms-underperform-rating-for-fossil-group-inc-fosl/1927699.html.
In other Fossil Group news, Chairman Kosta N. Kartsotis sold 625,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $9.73, for a total value of $6,081,250.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $11.29, for a total transaction of $12,136,750.00. Following the completion of the sale, the chairman now owns 4,183,047 shares in the company, valued at $47,226,600.63. The disclosure for this sale can be found here. Insiders sold a total of 2,220,281 shares of company stock worth $23,790,210 over the last quarter. Corporate insiders own 12.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Fossil Group by 19,301.2% in the first quarter. BlackRock Inc. now owns 5,209,210 shares of the textile maker’s stock valued at $90,900,000 after buying an additional 5,182,360 shares in the last quarter. Vanguard Group Inc. boosted its stake in Fossil Group by 14.5% in the first quarter. Vanguard Group Inc. now owns 3,644,137 shares of the textile maker’s stock valued at $63,591,000 after buying an additional 462,851 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Fossil Group by 86.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,746,955 shares of the textile maker’s stock valued at $30,484,000 after buying an additional 810,769 shares in the last quarter. Teachers Advisors LLC boosted its stake in Fossil Group by 7.4% in the fourth quarter. Teachers Advisors LLC now owns 1,277,667 shares of the textile maker’s stock valued at $33,040,000 after buying an additional 88,087 shares in the last quarter. Finally, C Partners Holding GmbH purchased a new stake in Fossil Group during the first quarter valued at about $11,652,000. Institutional investors and hedge funds own 97.21% of the company’s stock.
About Fossil Group
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments include Americas, Europe and Asia. Each segment includes sales to wholesale and distributor customers, and sales through the Company-owned retail stores and e-commerce activities based on the location of the selling entity.
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/wells-fargo-company-reaffirms-underperform-rating-for-fossil-group-inc-fosl/1927699.html
Receive News & Ratings for Fossil Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fossil Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.