Michael Kors Holdings Ltd. (NYSE:KORS)‘s stock had its “buy” rating reissued by analysts at Jefferies Group in a report issued on Friday. They presently have a $75.00 price target on the lifestyle brand’s stock. Jefferies Group’s price target would suggest a potential upside of 59.03% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Vetr upgraded shares of Michael Kors Holdings from a “hold” rating to a “buy” rating and set a $48.57 price target for the company in a research note on Monday, October 17th. Zacks Investment Research cut shares of Michael Kors Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Guggenheim started coverage on shares of Michael Kors Holdings in a research note on Friday, September 30th. They set a “neutral” rating for the company. Credit Agricole SA started coverage on shares of Michael Kors Holdings in a research note on Wednesday, September 28th. They set a “sell” rating and a $45.00 price target for the company. Finally, Credit Suisse Group AG reiterated a “neutral” rating on shares of Michael Kors Holdings in a research note on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $53.08.

Analyst Recommendations for Michael Kors Holdings (NYSE:KORS)

Shares of Michael Kors Holdings (NYSE:KORS) opened at 47.16 on Friday. Michael Kors Holdings has a 1-year low of $34.83 and a 1-year high of $59.49. The stock’s 50 day moving average is $48.43 and its 200-day moving average is $48.83. The stock has a market cap of $7.73 billion, a PE ratio of 10.75 and a beta of 0.84.

Michael Kors Holdings (NYSE:KORS) last posted its earnings results on Thursday, November 10th. The lifestyle brand reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.07. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. Michael Kors Holdings had a net margin of 16.94% and a return on equity of 42.50%. The company’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm posted $1.07 EPS. On average, analysts predict that Michael Kors Holdings will post $4.41 EPS for the current fiscal year.

In other Michael Kors Holdings news, SVP Lee S. Sporn sold 26,341 shares of Michael Kors Holdings stock in a transaction that occurred 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 filing with the SEC, which is available at this link. Also, SVP Lee S. Sporn sold 4,700 shares of Michael Kors Holdings stock in a transaction that occurred on Tuesday, August 30th. The shares were 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. Company insiders own 5.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mizuho Asset Management Co. Ltd. boosted its position in shares of Michael Kors Holdings by 58.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,413 shares of the lifestyle brand’s stock worth $119,000 after buying an additional 891 shares during the period. Tower Research Capital LLC TRC boosted its position in Michael Kors Holdings by 722.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,878 shares of the lifestyle brand’s stock worth $142,000 after buying an additional 2,528 shares during the last quarter. Toronto Dominion Bank boosted its position in Michael Kors Holdings by 114.8% in the second quarter. Toronto Dominion Bank now owns 2,986 shares of the lifestyle brand’s stock worth $148,000 after buying an additional 1,596 shares during the last quarter. Quantbot Technologies LP purchased a new position in Michael Kors Holdings during the second quarter worth approximately $148,000. Finally, Victory Capital Management Inc. boosted its position in Michael Kors Holdings by 8.3% in the second quarter. Victory Capital Management Inc. now owns 3,374 shares of the lifestyle brand’s stock worth $167,000 after buying an additional 258 shares during the last quarter. 92.78% of the stock is currently owned by hedge funds and other institutional investors.

Michael Kors Holdings Company Profile

Michael Kors Holdings Limited is a designer, marketer, distributor and retailer of branded women’s apparel and accessories and men’s apparel bearing the Michael Kors tradename and related trademarks MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos. The Company operates through three segments: retail, wholesale and licensing.

5 Day Chart for NYSE:KORS

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