Back in October of this year Fossil Group Inc (NASDAQ:FOSL) unveiled a new smartwatch, called the Q Founder. It is an Apple Watch-like device that features Intel’s Atom processor, a 400 mAh battery, that is supposed to last 24 hours+, and 4GB of internal storage.
Like its competition, this watch is also touchscreen and it includes a 3-axis accelerometer / gyroscope.
Today the Q Founder Smartwatch goes on sale in select Fossil stores nationwide, starting at just $275. The stock closed at $38.82 during the last session. It is down 53.65% since April 24, 2015 and is downtrending. It has underperformed by 52.52% the S&P500.
Out of 14 analysts covering Fossil (NASDAQ:FOSL), 4 rate it “Buy”, 2 “Sell”, while 8 “Hold”. This means 29% are positive. $90 is the highest target while $33 is the lowest. The $53.64 average target is 38.18% above today’s ($38.82) stock price. Fossil was the topic in 21 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Topeka Capital Markets maintained the stock on November 16 with “Buy” rating. S&P Research maintained it with “Buy” rating and $70 target price in an August 13 report. Nomura maintained the shares of FOSL in a report on November 13 with “Neutral” rating. Finally, Mizuho maintained the stock with “Neutral” rating in a November 13 report.
The institutional sentiment decreased to 0.77 in Q2 2015. Its down 0.08, from 0.85 in 2015Q1. The ratio dropped, as 67 funds sold all Fossil Group Inc shares owned while 119 reduced positions. 46 funds bought stakes while 98 increased positions. They now own 47.15 million shares or 1.18% more from 46.60 million shares in 2015Q1.
Underhill Investment Management Llc holds 7.15% of its portfolio in Fossil Group Inc for 217,140 shares. Vulcan Value Partners Llc owns 6.40 million shares or 4.21% of their US portfolio. Moreover, Eminence Capital Lp has 3.54% invested in the company for 3.58 million shares. The New York-based Freshford Capital Management Llc has invested 1.94% in the stock. Weitz Investment Management Inc., a Nebraska-based fund reported 835,483 shares.
Fossil Group, Inc. is a global designer, marketer and distributor firm that specializes in consumer fashion accessories. The company has a market cap of $1.87 billion. The Company’s offerings include a line of men’s and women’s fashion watches and jewelry, handbags, small leather goods, belts, sunglasses, soft accessories, and select apparel. It has 6.4 P/E ratio. The Firm operates in four different divisions: the North America Wholesale segment, the Europe Wholesale segment, Asia Pacific Wholesale segment and the Direct to Consumer segment.