Fossil Group (NASDAQ:FOSL) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Fossil Group (NASDAQ:FOSL) from a hold rating to a sell rating in a research note released on Saturday morning.

A number of other research analysts have also issued reports on FOSL. Northland Securities assumed coverage on shares of Fossil Group in a report on Thursday, February 19th. They issued an “outperform” rating and a $7.00 price objective for the company. Zacks Research raised shares of Fossil Group to a “hold” rating in a report on Friday, February 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Fossil Group in a research report on Thursday, January 22nd. Finally, Maxim Group raised their price target on shares of Fossil Group from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.00.

Fossil Group Trading Down 6.9%

NASDAQ FOSL opened at $4.01 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.55 and a debt-to-equity ratio of 2.00. Fossil Group has a twelve month low of $0.86 and a twelve month high of $5.00. The company has a market cap of $233.69 million, a price-to-earnings ratio of -2.74 and a beta of 1.68. The business’s fifty day moving average is $4.06 and its 200 day moving average is $3.33.

Fossil Group (NASDAQ:FOSL) last issued its earnings results on Wednesday, March 11th. The accessories brand company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). Fossil Group had a negative return on equity of 46.78% and a negative net margin of 7.81%.The firm had revenue of $280.52 million during the quarter, compared to analyst estimates of $249.28 million.

Hedge Funds Weigh In On Fossil Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Carrera Capital Advisors bought a new stake in Fossil Group in the fourth quarter valued at approximately $38,000. Wexford Capital LP bought a new position in Fossil Group during the 3rd quarter worth approximately $28,000. EHP Funds Inc. bought a new position in Fossil Group during the 3rd quarter worth approximately $28,000. Qube Research & Technologies Ltd acquired a new position in shares of Fossil Group in the 3rd quarter worth approximately $39,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Fossil Group in the 4th quarter worth approximately $63,000. 61.14% of the stock is owned by institutional investors and hedge funds.

Fossil Group Company Profile

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.