Michael Kors Holdings Ltd. (NYSE:KORS) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday. The firm currently has a $54.99 target price on the lifestyle brand’s stock. Vetr‘s price target would indicate a potential upside of 18.28% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Morgan Stanley reiterated an “equal weight” rating on shares of Michael Kors Holdings in a report on Tuesday. Zacks Investment Research cut shares of Michael Kors Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, November 15th. BMO Capital Markets set a $46.00 price target on shares of Michael Kors Holdings and gave the company a “hold” rating in a research report on Thursday, November 10th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $44.00 price target on shares of Michael Kors Holdings in a research report on Friday, November 11th. Finally, Jefferies Group reissued a “buy” rating and issued a $75.00 price target on shares of Michael Kors Holdings in a research report on Friday, November 11th. Two research analysts have rated the stock with a sell rating, twenty have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $53.45.

Analyst Recommendations for Michael Kors Holdings (NYSE:KORS)

Michael Kors Holdings (NYSE:KORS) opened at 46.49 on Tuesday. The firm has a market capitalization of $7.62 billion, a P/E ratio of 10.60 and a beta of 0.84. The stock’s 50 day moving average price is $48.59 and its 200-day moving average price is $48.64. Michael Kors Holdings has a 12 month low of $34.83 and a 12 month high of $59.49.

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

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In other Michael Kors Holdings news, SVP Lee S. Sporn sold 26,341 shares of the company’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $50.02, for a total value of $1,317,576.82. Following 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 Securities & Exchange Commission, which can be accessed through the SEC website. 5.00% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the stock. South Texas Money Management Ltd. increased its stake in shares of Michael Kors Holdings by 3.8% in the second quarter. South Texas Money Management Ltd. now owns 367,867 shares of the lifestyle brand’s stock valued at $18,202,000 after buying an additional 13,457 shares during the period. Thompson Investment Management Inc. increased its stake in shares of Michael Kors Holdings by 7.0% in the second quarter. Thompson Investment Management Inc. now owns 7,625 shares of the lifestyle brand’s stock valued at $377,000 after buying an additional 500 shares during the period. British Columbia Investment Management Corp increased its stake in shares of Michael Kors Holdings by 29.1% in the second quarter. British Columbia Investment Management Corp now owns 109,258 shares of the lifestyle brand’s stock valued at $5,406,000 after buying an additional 24,611 shares during the period. Wilsey Asset Management Inc. increased its stake in shares of Michael Kors Holdings by 0.3% in the third quarter. Wilsey Asset Management Inc. now owns 149,865 shares of the lifestyle brand’s stock valued at $7,006,000 after buying an additional 500 shares during the period. Finally, Exxonmobil Investment Management Inc. TX increased its stake in shares of Michael Kors Holdings by 4.6% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 45,680 shares of the lifestyle brand’s stock valued at $2,260,000 after buying an additional 1,993 shares during the period. 86.16% of the stock is currently owned by institutional investors.

About Michael Kors Holdings

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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