Michael Kors Holdings PT Raised to $80.00 (KORS)
Equities research analysts at Barclays Capital lifted their price target on shares of Michael Kors Holdings (NASDAQ:KORS) from $74.00 to $80.00 in a research note issued to investors on Tuesday, American Banking News reports. The firm currently has an “overweight” rating on the stock. Barclays Capital’s target price would indicate a potential upside of 7.35% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group downgraded shares of Michael Kors Holdings (NASDAQ:KORS) from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 23rd. They now have a $80.00 price target on the stock, down previously from $85.00. They noted that the move was a valuation call. Separately, analysts at Zacks upgraded shares of Michael Kors Holdings (NASDAQ:KORS) from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, September 5th. They now have a $77.40 price target on the stock. Finally, analysts at ISI Group raised their price target on shares of Michael Kors Holdings (NASDAQ:KORS) from $90.00 to $100.00 in a research note to investors on Wednesday, September 4th. They now have a “strong-buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Michael Kors Holdings currently has an average rating of “Buy” and a consensus price target of $78.67.
Shares of Michael Kors Holdings (NASDAQ:KORS) traded up 1.62% during mid-day trading on Tuesday, hitting $75.73. 800,717 shares of the company’s stock traded hands. Michael Kors Holdings has a one year low of $46.66 and a one year high of $78.62. The stock’s 50-day moving average is $73.54 and its 200-day moving average is $63.56. The company has a market cap of $15.294 billion and a price-to-earnings ratio of 33.30.
Michael Kors Holdings (NASDAQ:KORS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.12. The company had revenue of $640.90 million for the quarter, compared to the consensus estimate of $570.52 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up 54.5% on a year-over-year basis. On average, analysts predict that Michael Kors Holdings will post $2.76 earnings per share for the current fiscal year.
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 name and MICHAEL KORS, MICHAEL MICHAEL KORS, KORS MICHAEL KORS and various other related logos.
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