Watch Maker Fossil Group Loses Big After Swinging to 2Q Loss

Fossil Q54 Pilot watch at CES 2016

Pacifica Capital Investments Llc holds 4.64% of its portfolio in Fossil Group Inc for 360,750 shares.

At the moment 11 analysts are watching Fossil Group, Inc. Finally, Cowen and Company lowered their target price on Fossil Group from $15.00 to $12.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 10th. Jefferies downgraded the stock to "Hold" rating in Monday, January 4 report.

Fossil Group (FOSL) traded down 25.00% during trading on Wednesday, reaching $8.88. The company has a 50-day moving average of $10.19 and a 200-day moving average of $15.76. The firm has a market capitalization of $430.36 million, a price-to-earnings ratio of 17.41 and a beta of 0.73.

Fossil Group, Inc. (NASDAQ:FOSL), stock is trading $36.87 above the 52-week high and has displayed a high EPS growth of -18.70% in last 5 years. Bank of America maintained Fossil Group Inc (NASDAQ:FOSL) on Friday, November 13 with "Underperform" rating. The accessories brand company reported ($0.23) EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.05. Fossil Group had a net margin of 0.84% and a return on equity of 7.59%. Revenue fell to $596.8 million from $685.4 million. For the quarter ending Dec-17, 11 analysts have a mean sales target of 966.67 million whilst for the year ending Dec-17, 11 analysts have a mean target of 2,886.81 million. The accessories brand company reported ($0.23) earnings per share for the quarter, topping the Zacks' consensus estimate of ($0.28) by $0.05.

North Korea says it has freed Canadian prisoner
In December, the North's highest court sentenced Lim to life in prison with hard labor, citing his "subversive plots" against the North's regime.

COPYRIGHT VIOLATION NOTICE: This news story was first posted by Week Herald and is owned by of Week Herald. If you are viewing this report on another publication, it was stolen and reposted in violation of global trademark & copyright legislation. P/E provides a number that details how many years of earnings it will take a stock to recoup the value of one share at current price levels. The biggest holder now is Tom Kartsotis who owns 4,402,591 shares (9.08% of those outstanding), whilst Kosta N. Kartsotis holds 2,760,546 (5.70% of shares outstanding) and Randy S. Kercho holds 170,355 (0.35% of shares outstanding).

The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. Also, Chairman Kosta N. Kartsotis sold 520,281 shares of the firm's stock in a transaction on Friday, June 9th. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,220,281 shares of company stock worth $23,790,210.

Several large investors have recently made changes to their positions in the stock. Teachers Advisors LLC raised its stake in shares of Fossil Group by 7.4% in the fourth quarter. Wayne Hummer Investments L.L.C. bought a new stake in shares of Fossil Group during the first quarter worth approximately $205,000. Winslow Asset Management Inc. boosted its position in Fossil Group by 1.6% in the first quarter.

The company is doing "what we do best and focusing on design and style" to create new wearables that track fitness and smartwatches under its owned Fossil and licensed brands that include Michael Kors and Tory Burch. Nisa Investment Advisors LLC raised its stake in shares of Fossil Group by 21.2% in the first quarter. Prudential Financial Inc. now owns 380,416 shares of the accessories brand company's stock worth $6,638,000 after buying an additional 240,130 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Fossil Group by 10.2% in the first quarter. Vanguard Group Inc. now owns 3,644,137 shares of the accessories brand company's stock valued at $63,591,000 after buying an additional 462,851 shares in the last quarter.

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