Brokerages Set Michael Kors Holdings Ltd (KORS) Price Target at $44.89

Shares of Michael Kors Holdings Ltd (NYSE:KORS) have earned a consensus rating of “Hold” from the twenty-eight research firms that are covering the firm. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $44.89.

Several equities research analysts have recently issued reports on KORS shares. Vetr lowered shares of Michael Kors Holdings from a “strong-buy” rating to a “buy” rating and set a $48.40 price target for the company. in a research note 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 research note on Monday. William Blair restated a “market perform” rating on shares of Michael Kors Holdings in a research note on Tuesday, February 7th. Royal Bank of Canada set a $42.00 price target on shares of Michael Kors Holdings and gave the stock a “hold” rating in a research note on Monday, March 20th. Finally, Piper Jaffray Companies lowered shares of Michael Kors Holdings from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $60.00 to $48.00 in a research note on Tuesday, January 3rd.

Shares of Michael Kors Holdings (NYSE:KORS) remained flat at $37.78 on Monday. The company’s stock had a trading volume of 719,616 shares. The company has a 50 day moving average price of $37.27 and a 200-day moving average price of $43.25. Michael Kors Holdings has a 52 week low of $34.92 and a 52 week high of $55.37. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 8.64 and a beta of 0.70.

Michael Kors Holdings (NYSE:KORS) last issued its quarterly earnings results on Tuesday, February 7th. The lifestyle brand reported $1.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.01. Michael Kors Holdings had a net margin of 16.59% and a return on equity of 41.96%. The company earned $1.35 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business posted $1.59 EPS. Michael Kors Holdings’s quarterly revenue was down 3.2% compared to the same quarter last year. Analysts forecast that Michael Kors Holdings will post $4.16 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan increased its stake in Michael Kors Holdings by 0.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,620 shares of the lifestyle brand’s stock worth $263,000 after buying an additional 20 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Michael Kors Holdings by 0.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 21,290 shares of the lifestyle brand’s stock worth $996,000 after buying an additional 100 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Michael Kors Holdings by 0.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 26,980 shares of the lifestyle brand’s stock worth $1,262,000 after buying an additional 176 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Michael Kors Holdings by 3.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,670 shares of the lifestyle brand’s stock worth $244,000 after buying an additional 190 shares in the last quarter. Finally, Horizon Investment Services LLC increased its stake in Michael Kors Holdings by 3.0% in the third quarter. Horizon Investment Services LLC now owns 7,555 shares of the lifestyle brand’s stock worth $353,000 after buying an additional 223 shares in the last quarter. 88.54% of the stock is owned by institutional investors.

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Michael Kors Holdings Company Profile

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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