Kate Spade & Co (KATE) Given Consensus Recommendation of “Hold” by Analysts
Kate Spade & Co (NYSE:KATE) has earned an average recommendation of “Hold” from the twenty brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $20.46.
KATE has been the topic of a number of recent analyst reports. BidaskClub lowered shares of Kate Spade & Co from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised shares of Kate Spade & Co from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Finally, BMO Capital Markets set a $19.00 target price on shares of Kate Spade & Co and gave the stock a “hold” rating in a research report on Thursday, July 6th.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Kate Spade & Co by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 10,197,435 shares of the textile maker’s stock worth $188,551,000 after buying an additional 188,228 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Kate Spade & Co by 1.5% in the 2nd quarter. BlackRock Inc. now owns 10,072,353 shares of the textile maker’s stock valued at $186,238,000 after purchasing an additional 146,677 shares in the last quarter. Sachem Head Capital Management LP purchased a new position in shares of Kate Spade & Co in the 1st quarter valued at about $145,188,000. CNH Partners LLC purchased a new position in shares of Kate Spade & Co in the 2nd quarter valued at about $112,633,000. Finally, Glazer Capital LLC purchased a new position in shares of Kate Spade & Co in the 2nd quarter valued at about $84,549,000. Institutional investors own 97.87% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This news story was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this news story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2017/09/30/kate-spade-co-kate-given-consensus-recommendation-of-hold-by-analysts.html.
Kate Spade & Co (NYSE:KATE) remained flat at $18.49 on Friday. The stock had a trading volume of 7,789,960 shares. The company has a 50-day moving average of $18.45 and a 200 day moving average of $19.25. Kate Spade & Co has a 1-year low of $14.02 and a 1-year high of $24.24.
About Kate Spade & Co
Kate Spade & Company is engaged in the design and marketing of a range of accessories and apparel. It operates through three segments. The KATE SPADE North America segment consists of the Company’s kate spade new york and JACK SPADE brands in North America. The KATE SPADE International segment consists of the Company’s kate spade new york and JACK SPADE brands in international markets, which operates principally in Japan, Asia (excluding Japan), Europe and Latin America).
Receive News & Stock Ratings for Kate Spade & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kate Spade & Co and related stocks with our FREE daily email newsletter.