UPDATE: KeyBanc Downgrades Fossil (FOSL) to Hold; Promotion Levels At Five-Year High

July 2, 2012 1:37 PM EDT
Get Alerts FOSL Hot Sheet
Price: $24.82 +1.06%

Rating Summary:
    8 Buy, 14 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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(Updated - July 2, 2012 2:19 PM EDT)

KeyBanc downgraded Fossil (NASDAQ: FOSL) from Buy to Hold.

Analyst, Jane Thorn Leeson, said, "With full-price stores running promotions at levels not seen in more than five years, we see risk to 2Q/3Q earnings and downgrade our rating...we are reducing our EPS estimates to $0.74 for the 2Q, $1.35 for the 3Q and $5.23 for FY12. At 14.6x 2012 P/E vs. 21.0x P/E for the high-growth peer group, we believe valuation is fair and move to the sidelines."

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 $76.54 yesterday.

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