Fossil (NASDAQ:FOSL)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Friday, Analyst Ratings.Net reports. They currently have a $122.00 price target on the stock. Zacks‘ price objective indicates a potential upside of 4.76% from the company’s current price.
Zacks‘ analyst wrote, “Fossil’s second quarter 2013 earnings of $1.15 per share exceeded the Zacks Consensus Estimate by 23.6% and the year-ago earnings by 25.0%. The earnings upside was aided by double-digit sales growth and gross margin expansion. Net sales increased 11.0% year over year and also exceeded the Zacks Consensus Estimate, driven by double-digit growth in global watch sales and jewelry in the quarter. The company raised its sales and earnings guidance for fiscal 2013 to reflect the continued momentum of the Fossil brand and new product launches in 2013. Overall, we are encouraged by Fossil’s acquisition of Skagen which has strengthened its European and other East Asian emerging market business. Fossil also plans to launch a new collection of watches by 2014. However, higher labor costs and currency fluctuations continue to remain a headwind. We thus maintain a Neutral recommendation on the stock. “
Fossil (NASDAQ:FOSL) traded up 0.29% during mid-day trading on Friday, hitting $116.46. The stock had a trading volume of 541,099 shares. Fossil has a 1-year low of $78.75 and a 1-year high of $129.25. The stock’s 50-day moving average is $116.8 and its 200-day moving average is $106.7. The company has a market cap of $6.576 billion and a price-to-earnings ratio of 18.94.
Fossil (NASDAQ:FOSL) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.10 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.93 by $0.17. The company had revenue of $706.00 million for the quarter, compared to the consensus estimate of $691.20 million. During the same quarter in the prior year, the company posted $0.92 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. Analysts expect that Fossil will post $6.30 EPS for the current fiscal year.
In other Fossil news, Director Jal Shroff unloaded 15,000 shares of Fossil stock on the open market in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $117.12, for a total value of $1,756,800.00. Following the sale, the director now directly owns 1,127 shares in the company, valued at approximately $131,994. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on FOSL. Analysts at Nomura initiated coverage on shares of Fossil (NASDAQ:FOSL) in a research note to investors on Monday, September 9th. They set a “neutral” rating and a $114.00 price target on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Fossil (NASDAQ:FOSL) from $98.00 to $120.00 in a research note to investors on Wednesday, August 7th. They now have a “market perform” rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Fossil (NASDAQ:FOSL) from $130.00 to $145.00 in a research note to investors on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $113.65.
Fossil Group, Inc, formerly Fossil, Inc, a global designer, marketer and distributer company that specializes in consumer fashion accessories.
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