Kate Spade & Co (NYSE:KATE) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a research report issued on Monday. They presently have a $23.96 target price on the stock. Vetr‘s price target would indicate a potential upside of 1.83% from the company’s current price.
KATE has been the topic of a number of other reports. Bank of America Corp cut Kate Spade & Co from a “buy” rating to a “neutral” rating and increased their target price for the stock from $18.28 to $20.00 in a research note on Thursday, January 19th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Kate Spade & Co in a research note on Thursday, January 12th. Goldman Sachs Group Inc increased their target price on Kate Spade & Co from $15.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 17th. Wells Fargo & Co reissued an “outperform” rating and issued a $24.50 target price (up from $23.50) on shares of Kate Spade & Co in a research note on Thursday, February 16th. Finally, Cowen and Company increased their target price on Kate Spade & Co from $23.00 to $27.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $23.56.
Shares of Kate Spade & Co (NYSE:KATE) traded up 1.47% during midday trading on Monday, reaching $23.53. The company had a trading volume of 3,615,421 shares. The stock has a market capitalization of $3.02 billion, a PE ratio of 19.84 and a beta of 1.62. Kate Spade & Co has a 1-year low of $14.02 and a 1-year high of $26.46. The company’s 50-day moving average is $22.46 and its 200-day moving average is $18.46.
Kate Spade & Co (NYSE:KATE) last released its earnings results on Thursday, February 16th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. Kate Spade & Co had a return on equity of 27.34% and a net margin of 9.67%. The firm had revenue of $470 million for the quarter, compared to analysts’ expectations of $472.80 million. During the same period in the prior year, the firm posted $0.32 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities research analysts forecast that Kate Spade & Co will post $0.87 EPS for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. A.R.T. Advisors LLC purchased a new position in Kate Spade & Co during the fourth quarter worth $1,202,000. Peregrine Capital Management LLC purchased a new position in Kate Spade & Co during the third quarter worth $15,575,000. Harris Associates L P increased its position in Kate Spade & Co by 0.7% in the third quarter. Harris Associates L P now owns 6,343,511 shares of the company’s stock worth $108,664,000 after buying an additional 45,700 shares in the last quarter. Boston Partners purchased a new position in Kate Spade & Co during the third quarter worth $2,636,000. Finally, State of New Jersey Common Pension Fund D increased its position in Kate Spade & Co by 4.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 229,750 shares of the company’s stock worth $3,936,000 after buying an additional 10,000 shares in the last quarter. 98.36% of the stock is currently owned by institutional investors.
About Kate Spade & Co
Kate Spade & Company is engaged in the design and marketing of a range of accessories and apparel. The Company operates through three segments, which include KATE SPADE North America, KATE SPADE International and Adelington Design Group. The KATE SPADE North America segment consists of the Company’s kate spade new york and JACK SPADE brands in North America.
To view Vetr’s full report, visit Vetr’s official website.
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