Fossil Group (NASDAQ:FOSL) Receives a Downgrade
Goldman Sachs lowered their rating for shares of Fossil Group (NASDAQ:FOSL) from “Neutral” to “Sell” in an analyst note that was made public on Friday, 18 December.
From a total of 13 analysts covering Fossil (NASDAQ:FOSL) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $68 while the lowest target price is $25. The mean of all analyst targets is $46.15 with a 45.92% above today’s ($36.76) stock price. Fossil was the topic of 21 analyst reports since August 7, 2015 according to the firm StockzIntelligence Inc. Topeka Capital Markets maintained shares on November 16 with “Buy” rating. Piper Jaffray maintained shares with “Underweight” rating and $46.0 target share price in a report from an October 5. Nomura maintained FOSL stock in a recent report from November 13 with “Neutral” rating. S&P Research maintained the rating on August 13. S&P Research has a “Buy” rating and a $70 price target on shares. Finally, Mizuho maintained the stock with “Neutral” rating in a report issued on a November 13.
The stock decreased 2.75% or $1.04 during the last trading session, striking $36.76. Approximately 3.12M shares of stock traded hands or 10.25% up from the average. Fossil Group Inc (NASDAQ:FOSL) has declined 51.19% since May 15, 2015 and is downtrending. It has underperformed by 47.38% the S&P500.
The overall sentiment of institutions has increased to 1.01 in Q2 2015. Its up 0.24, from 0.77 in 2015Q2. The ratio is positive, as 50 institutions have sold all the shares of Fossil Group Inc that they owned while 93 funds have taken shares off the table. 29 funds have purchased shares for the first time while 115 added to their positions. These institutions now hold 57.82 million shares or 22.62% more than the 47.15 million shares they owned in 2015Q2.
The Fund Underhill Investment Management Llc currently is holding shares equating to 6.94% of its total portfolio in Fossil Group Inc representing a total of 252,140 shares. Another fund,Vulcan Value Partners Llc, is holding a total of 8.67 million shares equating to 4.7% of their holdings. Additionally, Eminence Capital Lp has a 2.97 million share stake in Fossil Group Inc which represents 2.55% of their total portfolio. The Fund, Weitz Investment Management Inc., based out of Nebraska, has also built up a stake in the stock, which represents a total of 2.01% of their total portfolio. Finally Reinhart Partners Inc., a fund which is based in the state of Wisconsin reported a total holdings of 259,010 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 $1.82 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 6.06 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.
According to Zacks Investment Research, “Fossil Group, Inc. is involved in designing, marketing and distribution of consumer fashion accessories. The Company’s product portfolio include men’s and women’s watches, handbags, belts, small leather goods, jewellery, sunglasses, hats, gloves and scarves, jeans, outerwear, fashion tops and bottoms, tee shirts as well as optical frames. Its brands include MICHELE, Zodiac, Relic, Emporio Armani, DKNY, Armani Exchange, Michael Kors, Diesel, Burberry, Marc by Marc Jacobs, Adidas, Skagen Denmark, and Karl Lagerfeld. The Company operates in four different segments: the North America Wholesale segment, the Europe Wholesale segment, Asia Pacific Wholesale segment and the Direct to Consumer segment. It serves market through department stores, specialty retail stores, specialty watch and jewellery stores, retail and outlet stores, mass market stores, clothing stores as well as through its catalogs and Website. Fossil Group Inc., formerly known as Fossil, Inc. is based in Richardson, Texas.”