Michael Kors Holdings Ltd (KORS) Price Target Cut to $34.00 by Analysts at Piper Jaffray Companies

Michael Kors Holdings Ltd (NYSE:KORS) had its price target reduced by Piper Jaffray Companies to $34.00 in a research report released on Wednesday morning.

KORS has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Michael Kors Holdings from a hold rating to a buy rating and set a $54.00 price objective for the company in a report on Thursday, October 27th. Vetr cut shares of Michael Kors Holdings from a strong-buy rating to a buy rating and set a $48.40 price target on the stock. in a report on Tuesday, January 24th. Jefferies Group LLC set a $65.00 price target on shares of Michael Kors Holdings and gave the stock a buy rating in a report on Tuesday, February 7th. Finally, Morgan Stanley restated an equal weight rating on shares of Michael Kors Holdings in a report on Tuesday, November 29th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $45.94.

Analyst Recommendations for Michael Kors Holdings (NYSE:KORS)

Shares of Michael Kors Holdings (NYSE:KORS) opened at 37.60 on Wednesday. Michael Kors Holdings has a 12-month low of $34.92 and a 12-month high of $59.49. The firm’s 50-day moving average price is $41.76 and its 200-day moving average price is $46.84. The firm has a market capitalization of $6.13 billion, a P/E ratio of 8.59 and a beta of 0.70.

Michael Kors Holdings (NYSE:KORS) last issued its quarterly earnings data on Tuesday, February 7th. The lifestyle brand reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.01. The firm earned $1.35 billion during the quarter, compared to analysts’ expectations 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 was down 3.2% on a year-over-year basis. During the same period last year, the company earned $1.59 earnings per share. Equities analysts predict that Michael Kors Holdings will post $4.17 earnings per share for the current fiscal year.

This piece of content was first reported by sleekmoney and is the sole property of of sleekmoney. If you are accessing this piece of content on another publication, it was copied illegally and reposted in violation of U.S. & international trademark & copyright laws. The original version of this piece of content can be viewed at http://sleekmoney.com/michael-kors-holdings-ltd-kors-price-target-cut-to-34-00-by-analysts-at-piper-jaffray-companies/1659344.html.

In other Michael Kors Holdings news, SVP Krista A. Mcdonough sold 5,156 shares of the business’s stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $48.02, for a total value of $247,591.12. Following the completion of the transaction, the senior vice president now owns 6,843 shares of the company’s stock, valued at approximately $328,600.86. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.00% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the company. Flossbach Von Storch AG boosted its position in Michael Kors Holdings by 1.5% in the third quarter. Flossbach Von Storch AG now owns 9,294,299 shares of the lifestyle brand’s stock worth $434,880,000 after buying an additional 139,285 shares in the last quarter. Franklin Resources Inc. boosted its position in Michael Kors Holdings by 25.3% in the second quarter. Franklin Resources Inc. now owns 7,623,015 shares of the lifestyle brand’s stock worth $377,186,000 after buying an additional 1,538,458 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Michael Kors Holdings by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 4,211,345 shares of the lifestyle brand’s stock worth $197,049,000 after buying an additional 44,126 shares in the last quarter. FMR LLC boosted its position in Michael Kors Holdings by 6.1% in the fourth quarter. FMR LLC now owns 4,110,584 shares of the lifestyle brand’s stock worth $176,673,000 after buying an additional 234,812 shares in the last quarter. Finally, APG Asset Management N.V. boosted its position in Michael Kors Holdings by 52.9% in the third quarter. APG Asset Management N.V. now owns 3,079,912 shares of the lifestyle brand’s stock worth $144,109,000 after buying an additional 1,066,200 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

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

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/michael-kors-holdings-ltd-kors-price-target-cut-to-34-00-by-analysts-at-piper-jaffray-companies/1659344.html

Receive News & Ratings for Michael Kors Holdings Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Michael Kors Holdings Ltd and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *