Michael Kors (NYSE:KORS) was upgraded by Wolfe Research from a “peer perform” rating to an “outperform” rating in a report issued on Thursday. The brokerage currently has a $73.00 price objective on the lifestyle brand’s stock. Wolfe Research’s target price would suggest a potential upside of 18.41% from the company’s previous close.

Several other analysts have also recently commented on the stock. ValuEngine cut shares of Michael Kors from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Credit Suisse Group reiterated a “hold” rating and issued a $43.00 price objective on shares of Michael Kors in a research note on Sunday, September 10th. Canaccord Genuity reiterated a “buy” rating and issued a $67.00 price objective (up previously from $58.00) on shares of Michael Kors in a research note on Friday, November 3rd. Jefferies Group reiterated a “buy” rating on shares of Michael Kors in a research note on Friday, November 10th. Finally, Sanford C. Bernstein initiated coverage on shares of Michael Kors in a research note on Tuesday, September 12th. They issued an “underperform” rating and a $37.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $51.84.

Shares of Michael Kors (NYSE KORS) opened at $61.65 on Thursday. Michael Kors has a 52 week low of $32.38 and a 52 week high of $62.30. The company has a market cap of $9,338.42, a PE ratio of 13.65, a P/E/G ratio of 2.07 and a beta of 0.12.

Michael Kors (NYSE:KORS) last announced its quarterly earnings data on Monday, November 6th. The lifestyle brand reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.50. Michael Kors had a net margin of 12.68% and a return on equity of 42.09%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the business earned $0.95 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. research analysts expect that Michael Kors will post 3.96 earnings per share for the current fiscal year.

In other news, CEO John D. Idol sold 500 shares of Michael Kors stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $55.12, for a total transaction of $27,560.00. Following the completion of the sale, the chief executive officer now directly owns 1,688,046 shares in the company, valued at $93,045,095.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Pascale Meyran sold 6,835 shares of Michael Kors stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $60.01, for a total transaction of $410,168.35. Following the sale, the senior vice president now owns 10,081 shares of the company’s stock, valued at $604,960.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,835 shares of company stock valued at $964,403. Insiders own 6.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Balasa Dinverno & Foltz LLC boosted its position in shares of Michael Kors by 19.3% in the third quarter. Balasa Dinverno & Foltz LLC now owns 8,677 shares of the lifestyle brand’s stock worth $415,000 after acquiring an additional 1,404 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of Michael Kors by 17.4% in the second quarter. Schroder Investment Management Group now owns 2,410,156 shares of the lifestyle brand’s stock worth $86,042,000 after acquiring an additional 357,661 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Michael Kors in the third quarter worth approximately $4,255,000. Legal & General Group Plc boosted its position in shares of Michael Kors by 5.1% in the second quarter. Legal & General Group Plc now owns 818,344 shares of the lifestyle brand’s stock worth $29,663,000 after acquiring an additional 39,949 shares during the last quarter. Finally, Systematic Financial Management LP boosted its position in shares of Michael Kors by 9,030.5% in the second quarter. Systematic Financial Management LP now owns 251,090 shares of the lifestyle brand’s stock worth $9,102,000 after acquiring an additional 248,340 shares during the last quarter. Institutional investors and hedge funds own 86.59% of the company’s stock.

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About Michael Kors

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 (NYSE:KORS)

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