Fossil Receives a Sell from Piper Jaffray

By Carrie Williams

Piper Jaffray analyst Erinn Murphy reiterated a Sell rating on Fossil (NASDAQ: FOSL) on November 3 and set a price target of $23. The company’s shares opened today at $27.20, close to its 52-week low of $23.10.

According to TipRanks.com, Murphy is ranked 0 out of 5 stars with an average return of -7.9% and a 38.9% success rate. Murphy covers the Consumer Goods sector, focusing on stocks such as Wolverine World Wide, G-III Apparel Group, and Ralph Lauren Corp.

Currently, the analyst consensus on Fossil is Moderate Sell and the average price target is $21.50, representing a -21.0% downside.

In a report issued on October 26, Buckingham also initiated coverage with a Sell rating on the stock with a $23 price target.

The company has a one year high of $55.48 and a one year low of $23.10. Currently, Fossil has an average volume of 964.3K.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is neutral on the stock. Most recently, in December 2015, Elysia Holt Ragusa, a Director at FOSL sold 2,718 shares for a total of $100,756.

Fossil Group, Inc. designs, markets and distributes consumer fashion accessories. Its products include men’s and women’s fashion watches, jewelry, handbags, small leather goods, belts, sunglasses, shoes, soft accessories and clothing which are sold through department stores, specialty retail locations, specialty watch and jewelry stores, owned retail and factory outlet stores, mass market stores, owned, and affiliate internet sites. It operates through the following segments: Americas, Europe, and Asia. The Americas segment includes sales to customers based in Canada, Latin America, and the United States. The Europe segment comprises of sales to customers based in European countries, the Middle East, and Africa. The Asia segment consists of sales to customers based in Australia, China, India, Indonesia, Japan, Malaysia, New Zealand, Singapore, South Korea, Taiwan, and Thailand. The company was founded by Tom Kartsotis in 1984 and is headquartered in Richardson, TX.