Fossil Group (NASDAQ:FOSL) Coverage Initiated at Northland Securities

Equities researchers at Northland Securities began coverage on shares of Fossil Group (NASDAQ:FOSL) in a research note issued to investors on Thursday, Marketbeat reports. The brokerage set an “outperform” rating and a $7.00 price target on the accessories brand company’s stock. Northland Securities’ target price would suggest a potential upside of 74.13% from the stock’s current price.

FOSL has been the subject of a number of other reports. Wall Street Zen downgraded Fossil Group from a “buy” rating to a “hold” rating in a research note on Sunday, October 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Fossil Group in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Fossil Group has an average rating of “Hold” and an average target price of $6.00.

Fossil Group Trading Up 5.0%

NASDAQ:FOSL opened at $4.02 on Thursday. The company has a market cap of $219.65 million, a PE ratio of -3.17 and a beta of 1.75. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 1.76. The company has a 50 day simple moving average of $3.74 and a two-hundred day simple moving average of $3.03. Fossil Group has a 12 month low of $0.86 and a 12 month high of $4.49.

Insiders Place Their Bets

In other Fossil Group news, Director Suzanne M. Coulter purchased 28,170 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were acquired at an average cost of $3.62 per share, with a total value of $101,975.40. Following the completion of the acquisition, the director directly owned 98,457 shares in the company, valued at $356,414.34. The trade was a 40.08% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Randy J. Greben acquired 20,980 shares of the stock in a transaction dated Monday, November 24th. The stock was acquired at an average price of $2.38 per share, for a total transaction of $49,932.40. Following the completion of the transaction, the chief financial officer directly owned 170,980 shares of the company’s stock, valued at approximately $406,932.40. This represents a 13.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 59,150 shares of company stock worth $175,608. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Fossil Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in FOSL. EHP Funds Inc. bought a new position in Fossil Group in the 3rd quarter worth approximately $28,000. Wexford Capital LP purchased a new position in shares of Fossil Group in the third quarter worth $28,000. Carrera Capital Advisors bought a new position in shares of Fossil Group during the fourth quarter worth $38,000. Qube Research & Technologies Ltd purchased a new position in Fossil Group during the third quarter valued at $39,000. Finally, Texas Capital Bank Wealth Management Services Inc bought a new stake in Fossil Group in the 3rd quarter valued at $45,000. Institutional investors own 61.14% of the company’s stock.

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.