Macquarie Just Issued “Underperform” Rating on Fossil Group Inc (FOSL)

Fossil Group Inc (FOSL) was Reiterated by Macquarie to “Underperform” while Lowering the Price Target of the company shares to $ 12 from a previous price target of $16 . Macquarie advised their Clients and Investors in a research report released on Mar 3, 2017.

Based on several research reports , Shares were Reiterated by Macquarie on Mar 3, 2017 to “Underperform” and Lowered the Price Target to $ 12 from a previous price target of $16 .Shares were Reiterated by Macquarie on Mar 3, 2017 to “Underperform” and Lowered the Price Target to $ 12 from a previous price target of $16 .Shares were Reiterated by Mizuho on Feb 15, 2017 to “Underperform” and Lowered the Price Target to $ 17 from a previous price target of $19 .Shares were Reiterated by Telsey Advisory Group on Feb 15, 2017 to “Market Perform” and Lowered the Price Target to $ 23 from a previous price target of $27 .Fossil Group Inc was Downgraded by Wells Fargo to ” Underperform” on Feb 15, 2017.

On the company’s financial health, Fossil Group Inc reported $1.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Feb 14, 2017. Analyst had a consensus of $1.21. The company had revenue of $959.20 million for the quarter, compared to analysts expectations of $981.28 million. The company’s revenue was down -3.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.46 EPS.

Several company insiders have filed Insider transactions , on Dec 16, 2016, Elaine B Agather (director) sold 1,800 shares at $31.76 per share price. According to the SEC, on Dec 12, 2016, Darren E. Hart (Executive Vice President) sold 13,125 shares at $34.42 per share price. On Dec 10, 2015, Elysia Holt Ragusa (director) sold 2,718 shares at $37.07 per share price, according to the Form-4 filing with the securities and exchange commission.

Fossil Group Inc opened for trading at $19.2 and hit $19.51 on the upside on Monday, eventually ending the session at $19.37, with a gain of 0.94% or 0.18 points. The heightened volatility saw the trading volume jump to 15,06,088 shares. Company has a market cap of $932 M.

Fossil Group Inc. is a global designer marketer and distributor company that specializes in consumer fashion accessories. 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. 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. Its products are distributed globally through various distribution channels including wholesale retail stores and commercial Websites. The Company sells its products through a diversified distribution network that includes department stores specialty retail locations specialty watch and jewelry stores Company-owned retail and factory outlet stores mass market stores and through its FOSSIL Website.

Fossil Group Inc

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