Michael Kors Holdings Ltd. (NYSE:KORS)‘s stock had its “equal weight” rating reissued by stock analysts at Morgan Stanley in a research note issued on Tuesday.

Several other research firms have also recently commented on KORS. Jefferies Group reaffirmed a “buy” rating on shares of Michael Kors Holdings in a report on Sunday, September 4th. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $55.00 price target on shares of Michael Kors Holdings in a report on Tuesday, September 13th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $69.00 price target on shares of Michael Kors Holdings in a report on Monday, August 8th. 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, August 11th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $45.00 price target on shares of Michael Kors Holdings in a report on Thursday, August 11th. Two equities 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. Michael Kors Holdings currently has a consensus rating of “Hold” and an average target price of $53.45.

Analyst Recommendations for Michael Kors Holdings (NYSE:KORS)

Shares of Michael Kors Holdings (NYSE:KORS) opened at 46.49 on Tuesday. Michael Kors Holdings has a one year low of $34.83 and a one year high of $59.49. The stock has a market capitalization of $7.62 billion, a PE ratio of 10.60 and a beta of 0.84. The firm has a 50 day moving average price of $48.59 and a 200 day moving average price of $48.64.

Michael Kors Holdings (NYSE:KORS) last released its earnings results on Thursday, November 10th. The lifestyle brand reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.07. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. Michael Kors Holdings had a return on equity of 42.50% and a net margin of 16.94%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 earnings per share. Analysts predict that Michael Kors Holdings will post $4.41 earnings per share for the current fiscal year.

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In related news, SVP Lee S. Sporn sold 26,341 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 40,707 shares in the company, valued at approximately $2,036,164.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.00% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of KORS. Municipal Employees Retirement System of Michigan boosted its position in Michael Kors Holdings by 0.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,620 shares of the lifestyle brand’s stock valued at $263,000 after buying an additional 20 shares during the last quarter. Commonwealth Equity Services Inc boosted its position in 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 during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Michael Kors Holdings by 0.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 21,290 shares of the lifestyle brand’s stock valued at $996,000 after buying an additional 100 shares during the last quarter. Dearborn Partners LLC boosted its position in 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 during the last quarter. Finally, CIBC Asset Management Inc boosted its position in 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 during the last quarter. Hedge funds and other institutional investors own 86.16% of the company’s stock.

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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