BidaskClub upgraded shares of Michael Kors Holdings Limited (NYSE:KORS) from a sell rating to a hold rating in a research report sent to investors on Monday.

A number of other equities research analysts have also weighed in on the stock. Credit Suisse Group set a $36.00 target price on shares of Michael Kors Holdings Limited and gave the company a hold rating in a research note on Tuesday, July 25th. Canaccord Genuity set a $33.00 target price on shares of Michael Kors Holdings Limited and gave the company a hold rating in a research note on Tuesday, July 25th. Cowen and Company reiterated a market perform rating and set a $35.00 target price on shares of Michael Kors Holdings Limited in a research note on Wednesday, July 26th. MKM Partners assumed coverage on shares of Michael Kors Holdings Limited in a research note on Monday, July 10th. They set a sell rating and a $26.00 target price for the company. Finally, BMO Capital Markets set a $35.00 target price on shares of Michael Kors Holdings Limited and gave the company a hold rating in a research note on Thursday, July 6th. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $39.64.

Michael Kors Holdings Limited (NYSE KORS) traded up 0.28% during trading on Monday, hitting $36.45. The stock had a trading volume of 2,834,085 shares. The company has a market capitalization of $5.68 billion, a P/E ratio of 11.08 and a beta of 0.10. The stock’s 50-day moving average price is $35.18 and its 200-day moving average price is $37.09. Michael Kors Holdings Limited has a 1-year low of $32.38 and a 1-year high of $52.67.

Michael Kors Holdings Limited (NYSE:KORS) last announced its quarterly earnings data on Wednesday, May 31st. The lifestyle brand reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Michael Kors Holdings Limited had a net margin of 12.38% and a return on equity of 41.00%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the business earned $0.98 EPS. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. Analysts expect that Michael Kors Holdings Limited will post $3.56 earnings per share for the current year.

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Michael Kors Holdings Limited announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 31st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the lifestyle brand to repurchase up to 18.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Several hedge funds have recently made changes to their positions in the stock. NINE MASTS CAPITAL Ltd acquired a new stake in shares of Michael Kors Holdings Limited during the first quarter valued at about $149,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Michael Kors Holdings Limited during the first quarter valued at about $154,000. Sandy Spring Bank boosted its stake in shares of Michael Kors Holdings Limited by 23.5% in the first quarter. Sandy Spring Bank now owns 4,310 shares of the lifestyle brand’s stock valued at $164,000 after buying an additional 820 shares in the last quarter. Creative Planning boosted its stake in shares of Michael Kors Holdings Limited by 30.8% in the second quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock valued at $181,000 after buying an additional 1,180 shares in the last quarter. Finally, Globeflex Capital L P acquired a new stake in shares of Michael Kors Holdings Limited during the first quarter valued at about $198,000. Hedge funds and other institutional investors own 83.98% of the company’s stock.

Michael Kors Holdings Limited 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.

Analyst Recommendations for Michael Kors Holdings Limited (NYSE:KORS)

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