Lake Street Capital Initiates Coverage on Fossil Group (NASDAQ:FOSL)

Stock analysts at Lake Street Capital started coverage on shares of Fossil Group (NASDAQ:FOSL) in a research note issued on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $10.00 price target on the accessories brand company’s stock. Lake Street Capital’s price target suggests a potential upside of 42.86% from the company’s previous close.

FOSL has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fossil Group in a research report on Friday, July 17th. Northland Securities set a $8.00 price target on Fossil Group in a report on Thursday, August 13th. Finally, Craig Hallum started coverage on Fossil Group in a research note on Thursday, September 10th. They issued a “buy” rating and a $12.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.25.

Fossil Group Stock Performance

FOSL opened at $7.00 on Wednesday. The stock has a market capitalization of $413.98 million, a price-to-earnings ratio of -5.47 and a beta of 1.55. The company has a fifty day moving average of $5.67 and a 200 day moving average of $4.83. Fossil Group has a fifty-two week low of $1.70 and a fifty-two week high of $7.33. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.05 and a current ratio of 1.76.

Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings results on Wednesday, August 12th. The accessories brand company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.16. Fossil Group had a negative net margin of 7.09% and a negative return on equity of 59.76%. The company had revenue of $209.69 million for the quarter, compared to the consensus estimate of $199.33 million. As a group, sell-side analysts forecast that Fossil Group will post -0.04 earnings per share for the current fiscal year.

Insider Activity at Fossil Group

In other Fossil Group news, Director Pamela J. Edwards acquired 7,208 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was acquired at an average cost of $5.58 per share, with a total value of $40,220.64. Following the purchase, the director directly owned 50,251 shares of the company’s stock, valued at approximately $280,400.58. This represents a 16.75% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.80% of the stock is owned by insiders.

Institutional Trading of Fossil Group

Several hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new position in Fossil Group in the second quarter worth about $34,000. The Manufacturers Life Insurance Company purchased a new stake in Fossil Group during the second quarter valued at approximately $64,000. Texas Capital Bank Wealth Management Services Inc purchased a new stake in Fossil Group during the second quarter valued at approximately $73,000. State of Wyoming purchased a new stake in Fossil Group during the second quarter valued at approximately $101,000. Finally, Cannon Global Investment Management LLC bought a new stake in shares of Fossil Group in the 1st quarter valued at approximately $110,000. 61.14% of the stock is currently owned by hedge funds and other institutional investors.

About Fossil Group

Fossil Group, Inc is a global design, marketing and distribution company focused on consumer lifestyle accessories. The company is best known for watches and also offers jewelry, handbags, small leather goods and other accessories.

Fossil Group markets products under its owned brands, including Fossil, Skagen, Michele and Zodiac, as well as through licensed and other brand relationships. Its products are sold through company-operated and third-party retail stores, e-commerce platforms and other distribution channels.

Founded in 1984 by Tom Kartsotis, the company is headquartered in Richardson, Texas, and serves customers in markets across North America, Europe, Asia and other international regions.