ValuEngine upgraded shares of Michael Kors Holdings Limited (NYSE:KORS) from a hold rating to a buy rating in a report issued on Wednesday morning.

A number of other research analysts have also recently commented on the company. BMO Capital Markets set a $35.00 price target on Michael Kors Holdings Limited and gave the stock a hold rating in a research note on Thursday, July 6th. Credit Suisse Group restated a hold rating and set a $43.00 price target on shares of Michael Kors Holdings Limited in a research note on Sunday, September 10th. Jefferies Group LLC set a $60.00 price target on Michael Kors Holdings Limited and gave the stock a buy rating in a research note on Tuesday, July 4th. BidaskClub upgraded Michael Kors Holdings Limited from a strong sell rating to a sell rating in a research note on Wednesday, July 19th. Finally, Deutsche Bank AG restated a hold rating and set a $36.00 price target on shares of Michael Kors Holdings Limited in a research note on Friday, June 16th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $45.02.

Michael Kors Holdings Limited (NYSE:KORS) traded up 0.29% on Wednesday, reaching $47.85. The company’s stock had a trading volume of 1,606,123 shares. Michael Kors Holdings Limited has a 52 week low of $32.38 and a 52 week high of $52.67. The company has a 50 day moving average of $42.35 and a 200 day moving average of $37.81. The firm has a market capitalization of $7.25 billion and a price-to-earnings ratio of 14.68.

Michael Kors Holdings Limited (NYSE:KORS) last released its quarterly earnings data on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.18. Michael Kors Holdings Limited had a return on equity of 40.26% and a net margin of 11.91%. The firm had revenue of $952.40 million for the quarter, compared to analysts’ expectations of $919.18 million. During the same period in the prior year, the firm posted $0.88 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. On average, analysts forecast that Michael Kors Holdings Limited will post $3.70 earnings per share for the current year.

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Institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new stake in shares of Michael Kors Holdings Limited during the second quarter worth about $114,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Michael Kors Holdings Limited during the first quarter worth about $154,000. Sandy Spring Bank boosted its stake in shares of Michael Kors Holdings Limited by 0.9% during the second quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock worth $158,000 after buying an additional 40 shares during the period. TrimTabs Asset Management LLC boosted its stake in shares of Michael Kors Holdings Limited by 105.1% during the second quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock worth $164,000 after buying an additional 2,325 shares during the period. Finally, Creative Planning boosted its stake in shares of Michael Kors Holdings Limited by 30.8% during the second quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock worth $181,000 after buying an additional 1,180 shares during the period. Institutional investors and hedge funds own 83.39% of the company’s stock.

About Michael Kors Holdings Limited

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.

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

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