Michael Kors Holdings Limited (NYSE:KORS) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other brokerages also recently commented on KORS. Credit Suisse Group restated a “hold” rating and issued a $43.00 target price on shares of Michael Kors Holdings Limited in a research note on Sunday, September 10th. Telsey Advisory Group upped their target price on Michael Kors Holdings Limited from $38.00 to $49.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 9th. Oppenheimer Holdings, Inc. set a $55.00 target price on Michael Kors Holdings Limited and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Robert W. Baird set a $46.00 target price on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research note on Sunday, October 1st. Finally, Cowen and Company restated a “market perform” rating and issued a $45.00 target price (up previously from $35.00) on shares of Michael Kors Holdings Limited in a research note on Thursday, August 10th. Three investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $45.35.

Michael Kors Holdings Limited (KORS) opened at 48.84 on Friday. The company has a market cap of $7.40 billion, a P/E ratio of 14.98 and a beta of 0.03. The firm has a 50-day moving average price of $45.98 and a 200-day moving average price of $39.42. Michael Kors Holdings Limited has a 12-month low of $32.38 and a 12-month high of $52.67.

Michael Kors Holdings Limited (NYSE:KORS) last issued its earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, topping 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 the consensus estimate of $919.18 million. During the same quarter in the prior year, the business earned $0.88 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. On average, analysts forecast that Michael Kors Holdings Limited will post $3.71 earnings per share for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the company. Sandy Spring Bank grew its position 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 valued at $158,000 after purchasing an additional 40 shares in the last quarter. First Heartland Consultants Inc. grew its position in shares of Michael Kors Holdings Limited by 1.9% in the second quarter. First Heartland Consultants Inc. now owns 6,829 shares of the lifestyle brand’s stock valued at $248,000 after purchasing an additional 129 shares in the last quarter. Thrivent Financial For Lutherans grew its position in shares of Michael Kors Holdings Limited by 5.8% in the first quarter. Thrivent Financial For Lutherans now owns 6,000 shares of the lifestyle brand’s stock valued at $229,000 after purchasing an additional 330 shares in the last quarter. First Allied Advisory Services Inc. grew its position in shares of Michael Kors Holdings Limited by 5.3% in the second quarter. First Allied Advisory Services Inc. now owns 6,752 shares of the lifestyle brand’s stock valued at $251,000 after purchasing an additional 337 shares in the last quarter. Finally, Financial Advisors Network Inc. grew its position in shares of Michael Kors Holdings Limited by 5.1% in the second quarter. Financial Advisors Network Inc. now owns 7,854 shares of the lifestyle brand’s stock valued at $285,000 after purchasing an additional 379 shares in the last quarter. Institutional investors and hedge funds own 83.36% 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.

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

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