Fossil (FOSL): Swiss Watch Exports Fall 6% in September - Piper Jaffray

October 20, 2016 7:56 AM EDT
Get Alerts FOSL Hot Sheet
Price: $32.69 -1.24%

Rating Summary:
    8 Buy, 14 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
Trade FOSL Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

Piper Jaffray analyst Erinn Murphy weighed in on Fossil (NASDAQ: FOSL) after Swiss watch export data showed a 6% year-over-year decline in September.

Murphy commented, "While this rate is an improvement from the -9% decline achieved in August, the decline marks the 15th consecutive month of falling exports. Country trends were mixed, with continued deteriorated most notably coming from Hong Kong. Trends in the U.S. turned positive, up +5%, which compares to the -12% in August. HK remained weak--down -40%, representing the largest decline since turning negative in February 2015, 20 months ago. Japan turned positive and was up +9% while Germany and France were down -21% and -22%, respectively. The UK trended positive during the month, tracking up +32% Y/Y, its largest gain since June 2015 (+35%), and what we believe is currency related. China was -1% compared to +29% in August."

The firm maintained an Underweight rating and price target of $25 on FOSL.

For an analyst ratings summary and ratings history on Fossil click here. For more ratings news on Fossil click here.

Shares of Fossil closed at $28.62 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments

Related Entities

Piper Jaffray, Erinn Murphy

Add Your Comment