Fossil Group (NASDAQ:FOSL) Upgraded to “Buy” at Wall Street Zen

Fossil Group (NASDAQ:FOSL) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Separately, Maxim Group assumed coverage on Fossil Group in a research report on Tuesday, July 1st. They set a “buy” rating and a $5.00 target price on the stock. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Fossil Group presently has an average rating of “Buy” and an average price target of $5.00.

Fossil Group Price Performance

NASDAQ FOSL opened at $3.12 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.83 and a debt-to-equity ratio of 1.24. The company has a market cap of $167.79 million, a PE ratio of -2.81 and a beta of 2.21. Fossil Group has a 52 week low of $0.86 and a 52 week high of $3.58. The firm’s 50-day simple moving average is $2.28 and its two-hundred day simple moving average is $1.63.

Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings results on Wednesday, August 13th. The accessories brand company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.11. The company had revenue of $220.40 million for the quarter, compared to analyst estimates of $198.04 million. Fossil Group had a negative net margin of 5.49% and a negative return on equity of 12.07%.

Institutional Investors Weigh In On Fossil Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fund 1 Investments LLC grew its stake in Fossil Group by 168.4% in the 2nd quarter. Fund 1 Investments LLC now owns 270,034 shares of the accessories brand company’s stock worth $400,000 after buying an additional 169,413 shares in the last quarter. Bridgeway Capital Management LLC increased its position in shares of Fossil Group by 2.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 425,182 shares of the accessories brand company’s stock valued at $629,000 after purchasing an additional 10,249 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Fossil Group by 0.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,461,746 shares of the accessories brand company’s stock valued at $3,643,000 after buying an additional 13,091 shares in the last quarter. Nantahala Capital Management LLC lifted its holdings in shares of Fossil Group by 21.5% in the 2nd quarter. Nantahala Capital Management LLC now owns 5,087,803 shares of the accessories brand company’s stock worth $7,530,000 after acquiring an additional 898,626 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Fossil Group in the 2nd quarter valued at $122,000. 61.14% of the stock is owned by hedge funds and other institutional investors.

About Fossil Group

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. The company’s products include traditional watches, smartwatches, jewelry, handbags, small leather goods, belts, and sunglasses.