Michael Kors Holdings Sees Unusually High Options Volume (KORS)
Michael Kors Holdings (NASDAQ:KORS) was the recipient of some unusual options trading on Monday. Investors bought 9,719 put options on the company, AnalystRatingsNetwork.com reports. This represents an increase of 270% compared to the typical daily volume of 2,628 put options.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley raised their price target on shares of Michael Kors Holdings from $78.00 to $83.00 in a research note to investors on Monday. They now have an “overweight” rating on the stock. Separately, analysts at Canaccord Genuity reiterated a “positive” rating on shares of Michael Kors Holdings in a research note to investors on Monday. They now have a $90.00 price target on the stock, up previously from $89.00. Finally, analysts at Piper Jaffray Cos. upgraded shares of Michael Kors Holdings from a “neutral” rating to an “overweight” rating in a research note to investors on Tuesday, October 8th. They now have a $90.00 price target on the stock, up previously from $73.00. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Michael Kors Holdings currently has an average rating of “Buy” and a consensus price target of $79.86.
Michael Kors Holdings (NASDAQ:KORS) traded up 1.58% on Monday, hitting $74.03. 2,397,875 shares of the company’s stock traded hands. Michael Kors Holdings has a 52-week low of $46.66 and a 52-week high of $78.62. The stock has a 50-day moving average of $74.25 and a 200-day moving average of $64.61. The company has a market cap of $14.951 billion and a price-to-earnings ratio of 32.56.
Michael Kors Holdings (NASDAQ:KORS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.61 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.34 earnings per share. Michael Kors Holdings’s revenue was up 54.5% compared to the same quarter last year. Analysts expect that Michael Kors Holdings will post $2.76 EPS 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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