Michael Kors Holdings Sees Large Volume Increase on Analyst Upgrade (KORS)
Shares of Michael Kors Holdings (NASDAQ:KORS) saw unusually-strong trading volume on Tuesday after Wedbush raised their price target on the stock from $100.00 to $108.00, ARN reports. Wedbush currently has an outperform rating on the stock. Approximately 5,316,219 shares were traded during mid-day trading, an increase of 85% from the previous session’s volume of 2,867,122 shares.The stock last traded at $95.74 and had previously closed at $96.40.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company reiterated an “outperform” rating on shares of Michael Kors Holdings in a research note on Friday. They now have a $111.00 price target on the stock, up previously from $97.00. Separately, analysts at Morgan Stanley initiated coverage on shares of Michael Kors Holdings in a research note on Tuesday, May 20th. They set a “buy” rating and a $117.00 price target on the stock. Finally, analysts at Topeka Capital Markets initiated coverage on shares of Michael Kors Holdings in a research note on Monday, May 19th. They set a “buy” rating and a $117.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $101.85.
The stock has a 50-day moving average of $91.34 and a 200-day moving average of $88.07. The company has a market cap of $19.453 billion and a P/E ratio of 32.88.
Michael Kors Holdings Limited is a global lifestyle brand . The Company designs, materials and craftsmanship with a jet-set aesthetic that combines stylish elegance and a sporty attitude.
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