Fossil Group (NASDAQ:FOSL) Stock Rated “Buy” in New Coverage at Lake Street Capital

Lake Street Capital began coverage on shares of Fossil Group (NASDAQ:FOSL) in a report published on Wednesday morning, Marketbeat reports. The firm issued a buy rating and a $10.00 target price on the accessories brand company’s stock.

A number of other equities analysts have also recently issued reports on FOSL. Craig Hallum initiated coverage on Fossil Group in a report on Thursday, September 10th. They set a “buy” rating and a $12.00 price target on the stock. Northland Securities set a $8.00 price objective on shares of Fossil Group in a research note on Thursday, August 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Fossil Group in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $9.25.

Fossil Group Stock Performance

FOSL stock opened at $7.15 on Wednesday. The firm has a market cap of $422.85 million, a PE ratio of -5.59 and a beta of 1.55. The company has a current ratio of 1.76, a quick ratio of 1.05 and a debt-to-equity ratio of 2.74. The stock has a 50-day moving average price of $5.71 and a 200-day moving average price of $4.85. Fossil Group has a 1-year low of $1.70 and a 1-year high of $7.33.

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

Insiders Place Their Bets

In other news, Director Pamela J. Edwards purchased 7,208 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were acquired at an average price of $5.58 per share, for a total transaction of $40,220.64. Following the completion of the acquisition, the director owned 50,251 shares in the company, valued at approximately $280,400.58. The trade was a 16.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Fossil Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC grew its position in Fossil Group by 132.1% in the 2nd quarter. Headlands Technologies LLC now owns 55,214 shares of the accessories brand company’s stock valued at $229,000 after purchasing an additional 31,422 shares during the period. Nantahala Capital Management LLC acquired a new position in Fossil Group during the second quarter worth $22,791,230. Empowered Funds LLC acquired a new position in Fossil Group during the second quarter worth $558,000. Public Employees Retirement System of Ohio acquired a new position in Fossil Group during the second quarter worth $34,000. Finally, Bank of America Corp DE bought a new position in shares of Fossil Group in the second quarter valued at $854,000. Institutional investors own 61.14% of the company’s stock.

Fossil Group Company Profile

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.