Michael Kors Holdings Ltd (KORS) Stock Rating Reaffirmed by BMO Capital Markets

BMO Capital Markets restated their hold rating on shares of Michael Kors Holdings Ltd (NYSE:KORS) in a report released on Wednesday morning. BMO Capital Markets currently has a $38.00 price objective on the lifestyle brand’s stock.

Several other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Michael Kors Holdings from a hold rating to a sell rating in a report on Tuesday, November 15th. Telsey Advisory Group dropped their price objective on shares of Michael Kors Holdings from $48.00 to $42.00 and set a market perform rating on the stock in a report on Wednesday, February 8th. Vetr downgraded shares of Michael Kors Holdings from a strong-buy rating to a buy rating and set a $53.75 price objective on the stock. in a report on Monday, November 21st. William Blair reaffirmed a market perform rating on shares of Michael Kors Holdings in a report on Tuesday, February 7th. Finally, Piper Jaffray Companies downgraded shares of Michael Kors Holdings from an overweight rating to a neutral rating and dropped their price objective for the company from $60.00 to $48.00 in a report on Tuesday, January 3rd. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating and eight have issued a buy rating to the stock. Michael Kors Holdings has an average rating of Hold and an average price target of $44.98.

Analyst Recommendations for Michael Kors Holdings (NYSE:KORS)

Michael Kors Holdings (NYSE:KORS) opened at 37.39 on Wednesday. The firm has a 50 day moving average of $38.20 and a 200-day moving average of $44.74. Michael Kors Holdings has a 52 week low of $34.92 and a 52 week high of $58.63. The stock has a market capitalization of $6.07 billion, a PE ratio of 8.55 and a beta of 0.70.

Michael Kors Holdings (NYSE:KORS) last released its quarterly earnings data on Tuesday, February 7th. The lifestyle brand reported $1.64 EPS for the quarter, beating the consensus estimate of $1.63 by $0.01. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. Michael Kors Holdings had a net margin of 16.59% and a return on equity of 41.96%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.59 EPS. On average, equities analysts predict that Michael Kors Holdings will post $4.17 EPS for the current year.

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Large investors have recently modified their holdings of the stock. Sterling Capital Management LLC boosted its stake in shares of Michael Kors Holdings by 2.5% in the second quarter. Sterling Capital Management LLC now owns 31,510 shares of the lifestyle brand’s stock worth $1,559,000 after buying an additional 760 shares during the period. IFP Advisors Inc boosted its stake in shares of Michael Kors Holdings by 15.0% in the second quarter. IFP Advisors Inc now owns 4,135 shares of the lifestyle brand’s stock worth $205,000 after buying an additional 539 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Michael Kors Holdings by 10.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,064 shares of the lifestyle brand’s stock worth $250,000 after buying an additional 468 shares during the period. Kentucky Retirement Systems acquired a new stake in shares of Michael Kors Holdings during the second quarter worth approximately $743,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Michael Kors Holdings during the second quarter worth approximately $353,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

About Michael Kors Holdings

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.

5 Day Chart for NYSE:KORS

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