Michael Kors Holdings Limited (KORS) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of Michael Kors Holdings Limited (NYSE:KORS) from a hold rating to a buy rating in a report released on Friday morning.

KORS has been the subject of a number of other reports. CIBC raised shares of Michael Kors Holdings Limited from a market perform rating to an outperform rating and upped their price objective for the stock from $44.00 to $55.00 in a research report on Tuesday, September 19th. Jefferies Group LLC reaffirmed a buy rating and issued a $60.00 price objective on shares of Michael Kors Holdings Limited in a research report on Thursday, September 14th. ValuEngine downgraded shares of Michael Kors Holdings Limited from a buy rating to a hold rating in a research report on Friday, September 1st. Credit Suisse Group set a $36.00 price objective on shares of Michael Kors Holdings Limited and gave the stock a hold rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research downgraded shares of Michael Kors Holdings Limited from a buy rating to a hold rating in a research report on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $45.35.

Michael Kors Holdings Limited (NYSE KORS) traded up 2.27% during trading on Friday, hitting $49.95. 2,209,043 shares of the stock were exchanged. The firm has a market cap of $7.57 billion, a PE ratio of 15.32 and a beta of 0.03. The firm’s 50-day moving average is $46.21 and its 200 day moving average is $39.50. Michael Kors Holdings Limited has a 52 week low of $32.38 and a 52 week high of $52.67.

Michael Kors Holdings Limited (NYSE:KORS) last issued its quarterly earnings data on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.18. Michael Kors Holdings Limited had a net margin of 11.91% and a return on equity of 40.26%. The business had revenue of $952.40 million during the quarter, compared to the consensus estimate of $919.18 million. During the same period in the prior year, the firm posted $0.88 EPS. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. Analysts expect that Michael Kors Holdings Limited will post $3.71 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. purchased a new stake in Michael Kors Holdings Limited in the 2nd quarter worth approximately $114,000. Sandy Spring Bank lifted its stake in Michael Kors Holdings Limited by 0.9% in the 2nd quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock worth $158,000 after purchasing an additional 40 shares in the last quarter. TrimTabs Asset Management LLC lifted its stake in Michael Kors Holdings Limited by 105.1% in the 2nd quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock worth $164,000 after purchasing an additional 2,325 shares in the last quarter. Creative Planning lifted its stake in Michael Kors Holdings Limited by 30.8% in the 2nd quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock worth $181,000 after purchasing an additional 1,180 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in Michael Kors Holdings Limited in the 2nd quarter worth approximately $188,000. 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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