Shares of Michael Kors Holdings Limited (NYSE:KORS) have been given an average recommendation of “Hold” by the thirty analysts that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and four have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $43.15.

A number of equities analysts recently weighed in on KORS shares. Jefferies Group LLC restated a “buy” rating and set a $60.00 target price on shares of Michael Kors Holdings Limited in a research report on Thursday, June 1st. Nomura upped their target price on shares of Michael Kors Holdings Limited from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Michael Kors Holdings Limited from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Monday, August 14th. Morgan Stanley restated an “equal weight” rating and set a $36.00 target price (down previously from $43.00) on shares of Michael Kors Holdings Limited in a research report on Thursday, June 1st. Finally, Deutsche Bank AG lowered shares of Michael Kors Holdings Limited from a “buy” rating to a “hold” rating and dropped their target price for the stock from $47.00 to $40.00 in a research report on Monday, May 15th.

Several hedge funds and other institutional investors have recently bought and sold shares of KORS. Pacer Advisors Inc. bought a new position in shares of Michael Kors Holdings Limited in the second quarter worth about $114,000. NINE MASTS CAPITAL Ltd bought a new position in shares of Michael Kors Holdings Limited in the first quarter worth about $149,000. Ameritas Investment Partners Inc. bought a new position in shares of Michael Kors Holdings Limited in the first quarter worth about $154,000. Sandy Spring Bank grew its holdings in shares of Michael Kors Holdings Limited by 0.9% in the second quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock worth $158,000 after purchasing an additional 40 shares during the last quarter. Finally, TrimTabs Asset Management LLC grew its holdings in shares of Michael Kors Holdings Limited by 105.1% in the second quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock worth $164,000 after purchasing an additional 2,325 shares during the last quarter. Hedge funds and other institutional investors own 83.39% of the company’s stock.

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Shares of Michael Kors Holdings Limited (NYSE:KORS) opened at 42.69 on Tuesday. Michael Kors Holdings Limited has a 1-year low of $32.38 and a 1-year high of $52.67. The stock has a market capitalization of $6.47 billion and a PE ratio of 13.10. The firm has a 50-day moving average of $40.83 and a 200 day moving average of $37.45.

Michael Kors Holdings Limited (NYSE:KORS) last posted its quarterly earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.18. The business had revenue of $952.40 million during the quarter, compared to analyst estimates of $919.18 million. Michael Kors Holdings Limited had a net margin of 11.91% and a return on equity of 40.26%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share. Analysts predict that Michael Kors Holdings Limited will post $3.71 EPS for the current year.

Michael Kors Holdings Limited declared that its board has approved a share buyback program on Wednesday, May 31st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the lifestyle brand to purchase up to 18.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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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