Fossil Group (NASDAQ:FOSL) Downgraded by TheStreet

TheStreet cut shares of Fossil Group (NASDAQ:FOSL) from a c- rating to a d rating in a report published on Thursday, November 7th, TheStreetRatingsTable reports.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

FOSL has been the topic of several other reports. Zacks Investment Research upgraded Fossil Group from a hold rating to a buy rating and set a $13.00 price target on the stock in a research report on Wednesday, October 23rd. Telsey Advisory Group reissued a market perform rating and issued a $12.00 price target (down previously from $15.00) on shares of Fossil Group in a research note on Monday, August 5th. Wells Fargo & Co dropped their price target on Fossil Group from $8.00 to $6.00 and set an underperform rating on the stock in a research note on Thursday, November 7th. BidaskClub raised Fossil Group from a hold rating to a buy rating in a research note on Friday, November 8th. Finally, ValuEngine downgraded Fossil Group from a hold rating to a sell rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $10.33.

Fossil Group stock traded up $0.07 during trading hours on Thursday, hitting $7.89. The stock had a trading volume of 1,006,100 shares, compared to its average volume of 1,540,501. Fossil Group has a 12-month low of $7.67 and a 12-month high of $22.24. The company has a quick ratio of 0.99, a current ratio of 2.06 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $395.04 million, a P/E ratio of 10.12 and a beta of 0.40. The stock’s 50-day moving average price is $10.98 and its 200-day moving average price is $11.36.

In related news, insider Darren E. Hart bought 20,000 shares of Fossil Group stock in a transaction dated Thursday, August 22nd. The stock was purchased at an average cost of $10.03 per share, with a total value of $200,600.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gregory A. Mckelvey bought 100,000 shares of Fossil Group stock in a transaction dated Wednesday, August 21st. The shares were bought at an average cost of $9.86 per share, with a total value of $986,000.00. Following the completion of the transaction, the executive vice president now directly owns 432,093 shares in the company, valued at $4,260,436.98. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 153,600 shares of company stock valued at $1,529,992. Company insiders own 8.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in FOSL. Marshall Wace North America L.P. bought a new position in shares of Fossil Group during the 1st quarter valued at approximately $26,000. US Bancorp DE increased its stake in Fossil Group by 523.7% during the second quarter. US Bancorp DE now owns 2,551 shares of the accessories brand company’s stock worth $29,000 after purchasing an additional 2,142 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Fossil Group during the second quarter worth about $30,000. Bank of Montreal Can purchased a new stake in Fossil Group during the second quarter worth about $45,000. Finally, Flinton Capital Management LLC increased its stake in Fossil Group by 22.8% during the second quarter. Flinton Capital Management LLC now owns 6,032 shares of the accessories brand company’s stock worth $69,000 after purchasing an additional 1,120 shares during the period.

About Fossil Group

Fossil Group, Inc designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. Its principal products include men's and women's fashion watches and jewelry, smartwatches, handbags, small leather goods, belts, and sunglasses.

Read More: What is a Real Estate Investment Trust (REIT)?

Leave a Reply

Your email address will not be published. Required fields are marked *

*