Michael Kors (NYSE:KORS) was upgraded by investment analysts at Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a report released on Monday, Marketbeat Ratings reports. The analysts noted that the move was a valuation call.

Other research analysts have also issued reports about the stock. MKM Partners set a $74.00 price objective on shares of Michael Kors and gave the stock a “hold” rating in a research note on Thursday, August 9th. Guggenheim restated a “hold” rating on shares of Michael Kors in a research note on Tuesday, September 25th. Barclays boosted their price objective on shares of Michael Kors from $73.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 9th. Needham & Company LLC boosted their price objective on shares of Michael Kors from $75.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 9th. Finally, Piper Jaffray Companies set a $71.00 price objective on shares of Michael Kors and gave the stock a “hold” rating in a research note on Friday, August 17th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $72.79.

Michael Kors stock opened at $48.22 on Monday. The stock has a market cap of $7.18 billion, a PE ratio of 10.67, a PEG ratio of 1.49 and a beta of 0.39. Michael Kors has a fifty-two week low of $47.47 and a fifty-two week high of $75.96. The company has a current ratio of 1.48, a quick ratio of 0.71 and a debt-to-equity ratio of 0.23.

Michael Kors (NYSE:KORS) last released its quarterly earnings data on Wednesday, November 7th. The lifestyle brand reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.18. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.26 billion. Michael Kors had a net margin of 11.57% and a return on equity of 36.66%. Michael Kors’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 EPS. Research analysts expect that Michael Kors will post 5.02 EPS for the current fiscal year.

In other Michael Kors news, insider Michael David Kors sold 179,920 shares of the business’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $73.62, for a total value of $13,245,710.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John D. Idol sold 150,000 shares of the business’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $72.99, for a total transaction of $10,948,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 516,516 shares of company stock valued at $36,817,667 in the last ninety days. 6.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of KORS. LPL Financial LLC boosted its holdings in Michael Kors by 65.6% in the 1st quarter. LPL Financial LLC now owns 8,038 shares of the lifestyle brand’s stock valued at $499,000 after purchasing an additional 3,185 shares during the period. Principal Financial Group Inc. boosted its holdings in Michael Kors by 25.3% in the 1st quarter. Principal Financial Group Inc. now owns 611,403 shares of the lifestyle brand’s stock valued at $37,956,000 after purchasing an additional 123,429 shares during the period. Allianz Asset Management GmbH boosted its holdings in Michael Kors by 1,220.6% in the 1st quarter. Allianz Asset Management GmbH now owns 75,712 shares of the lifestyle brand’s stock valued at $4,700,000 after purchasing an additional 69,979 shares during the period. DnB Asset Management AS boosted its holdings in Michael Kors by 13.4% in the 2nd quarter. DnB Asset Management AS now owns 16,973 shares of the lifestyle brand’s stock valued at $1,130,000 after purchasing an additional 2,000 shares during the period. Finally, IFM Investors Pty Ltd boosted its holdings in Michael Kors by 37.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 8,139 shares of the lifestyle brand’s stock valued at $542,000 after purchasing an additional 2,208 shares during the period. 85.65% of the stock is owned by hedge funds and other institutional investors.

Michael Kors Company Profile

Michael Kors Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

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Analyst Recommendations for Michael Kors (NYSE:KORS)

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