Michael Kors Holdings Ltd. (NYSE:KORS) was upgraded by stock analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage currently has a $48.57 price objective on the lifestyle brand’s stock. Vetr‘s target price suggests a potential upside of 4.12% from the company’s current price.

A number of other brokerages also recently commented on KORS. Credit Suisse Group AG reissued a “neutral” rating on shares of Michael Kors Holdings in a research report on Thursday, July 28th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $69.00 price objective on shares of Michael Kors Holdings in a research report on Monday, August 8th. Jefferies Group reaffirmed a “buy” rating and set a $75.00 target price on shares of Michael Kors Holdings in a report on Wednesday, August 3rd. Zacks Investment Research downgraded shares of Michael Kors Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $56.00 target price on shares of Michael Kors Holdings in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, twenty-one have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $53.44.

Analyst Recommendations for Michael Kors Holdings (NYSE:KORS)

Shares of Michael Kors Holdings (NYSE:KORS) opened at 46.65 on Monday. Michael Kors Holdings has a 12-month low of $34.83 and a 12-month high of $59.49. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 10.53 and a beta of 0.89. The stock’s 50 day moving average is $48.17 and its 200 day moving average is $49.44.

Michael Kors Holdings (NYSE:KORS) last announced its quarterly earnings data on Wednesday, August 10th. The lifestyle brand reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.14. Michael Kors Holdings had a net margin of 17.33% and a return on equity of 43.05%. The company earned $987.90 million during the quarter, compared to the consensus estimate of $954.13 million. During the same quarter last year, the firm posted $0.87 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts expect that Michael Kors Holdings will post $4.57 earnings per share for the current year.

In related news, SVP Lee S. Sporn sold 26,341 shares of the stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $50.02, for a total transaction of $1,317,576.82. Following the transaction, the senior vice president now directly owns 40,707 shares of the company’s stock, valued at $2,036,164.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Lee S. Sporn sold 4,700 shares of the stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $50.00, for a total transaction of $235,000.00. Following the transaction, the senior vice president now directly owns 22,653 shares in the company, valued at $1,132,650. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Equity Services Inc raised its position in shares of Michael Kors Holdings by 0.4% in the second quarter. Commonwealth Equity Services Inc now owns 17,227 shares of the lifestyle brand’s stock valued at $852,000 after buying an additional 76 shares in the last quarter. Dearborn Partners LLC raised its position in shares of Michael Kors Holdings by 2.4% in the second quarter. Dearborn Partners LLC now owns 6,146 shares of the lifestyle brand’s stock valued at $304,000 after buying an additional 146 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Michael Kors Holdings by 1.0% in the second quarter. CIBC Asset Management Inc now owns 15,113 shares of the lifestyle brand’s stock valued at $748,000 after buying an additional 149 shares in the last quarter. LS Investment Advisors LLC raised its position in shares of Michael Kors Holdings by 2.7% in the second quarter. LS Investment Advisors LLC now owns 7,499 shares of the lifestyle brand’s stock valued at $371,000 after buying an additional 196 shares in the last quarter. Finally, Globeflex Capital L P raised its position in shares of Michael Kors Holdings by 1.1% in the second quarter. Globeflex Capital L P now owns 21,442 shares of the lifestyle brand’s stock valued at $1,061,000 after buying an additional 235 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Michael Kors Holdings Company Profile

Michael Kors Holdings Limited is a global accessories, footwear and apparel company. The Company operates its business in three segments: retail, wholesale and licensing. It offers two primary collections: the Michael Kors luxury collection and the MICHAEL Michael Kors accessible luxury collection. In the Michael Kors collection, it offers accessories, including handbags and small leather goods, many of which are made from leathers and other exotic skins, footwear and apparel, including ready-to-wear women swear and menswear.

5 Day Chart for NYSE:KORS

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