Michael Kors Holdings Ltd. (NYSE:KORS) was upgraded by equities research analysts at Vetr from a “hold” rating to a “strong-buy” rating in a report released on Tuesday. The firm presently has a $53.75 price objective on the lifestyle brand’s stock. Vetr‘s price target suggests a potential upside of 13.13% from the stock’s current price.

Several other brokerages also recently weighed in on KORS. Credit Suisse Group AG reaffirmed a “neutral” rating on shares of Michael Kors Holdings in a research report on Thursday, July 28th. Jefferies Group reissued a “buy” rating and issued a $75.00 price target on shares of Michael Kors Holdings in a report on Friday, November 11th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $44.00 price target on shares of Michael Kors Holdings in a report on Friday, November 11th. BMO Capital Markets set a $46.00 price target on Michael Kors Holdings and gave the company a “hold” rating in a report on Thursday, November 10th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $69.00 price target on shares of Michael Kors Holdings in a report on Monday, August 8th. Two equities research 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 has a consensus rating of “Hold” and a consensus target price of $53.08.

Analyst Recommendations for Michael Kors Holdings (NYSE:KORS)

Michael Kors Holdings (NYSE:KORS) opened at 47.51 on Tuesday. The firm’s 50-day moving average price is $48.29 and its 200 day moving average price is $48.67. The firm has a market cap of $7.79 billion, a price-to-earnings ratio of 10.83 and a beta of 0.84. Michael Kors Holdings has a 52-week low of $34.83 and a 52-week high of $59.49.

Michael Kors Holdings (NYSE:KORS) last issued its earnings results on Thursday, November 10th. The lifestyle brand reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.07. Michael Kors Holdings had a return on equity of 42.50% and a net margin of 16.94%. The company earned $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the business earned $1.07 earnings per share. The company’s revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts forecast that Michael Kors Holdings will post $4.41 EPS for the current year.

In other news, SVP Lee S. Sporn sold 26,341 shares of the firm’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $50.02, for a total value of $1,317,576.82. Following the completion of the sale, the senior vice president now 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 is accessible through this link. Also, SVP Lee S. Sporn sold 4,700 shares of the firm’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $50.00, for a total value of $235,000.00. Following the completion of the sale, the senior vice president now directly owns 22,653 shares of the company’s stock, valued at approximately $1,132,650. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.

Several hedge funds have recently modified their holdings of KORS. Mizuho Asset Management Co. Ltd. boosted its stake 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 valued at $119,000 after buying an additional 891 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of 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 valued at $142,000 after buying an additional 2,528 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Michael Kors Holdings during the second quarter valued at approximately $148,000. Toronto Dominion Bank boosted its stake in shares of Michael Kors Holdings by 114.8% in the second quarter. Toronto Dominion Bank now owns 2,986 shares of the lifestyle brand’s stock valued at $148,000 after buying an additional 1,596 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of 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 valued at $167,000 after buying an additional 258 shares during the period. 92.78% of the stock is owned by institutional investors and hedge funds.

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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