Michael Kors Holdings Shares Up 2.3% Following Analyst Upgrade (KORS)
Michael Kors Holdings (NASDAQ:KORS)’s share price was up 2.3% during trading on Friday after Janney Montgomery Scott raised their price target on the stock from $121.00 to $122.00, StockRatingsNetwork reports. Janney Montgomery Scott currently has a buy rating on the stock. Michael Kors Holdings traded as high as $95.19 and last traded at $94.42, with a volume of 3,616,918 shares trading hands. The stock had previously closed at $92.28.
Several other analysts have also recently commented on the stock. Analysts at Buckingham Research raised their price target on shares of Michael Kors Holdings from $112.00 to $118.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Avondale Partners downgraded shares of Michael Kors Holdings from an “outperform” rating to a “market perform” rating in a research note on Thursday. They now have a $103.00 price target on the stock, down previously from $113.00. Finally, analysts at ING Group raised their price target on shares of Michael Kors Holdings to $110.00 in a research note on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $105.38.
The stock has a 50-day moving average of $91.95 and a 200-day moving average of $88.49. The company has a market cap of $19.181 billion and a price-to-earnings ratio of 28.66. Michael Kors Holdings also was the target of some unusual options trading on Tuesday. Traders bought 21,714 put options on the company. This is an increase of approximately 659% compared to the average volume of 2,860 put options.
Michael Kors Holdings (NASDAQ:KORS) last announced its earnings results on Wednesday, May 28th. The company reported $0.78 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.68 by $0.10. The company had revenue of $917.50 million for the quarter, compared to the consensus estimate of $816.51 million. During the same quarter last year, the company posted $0.50 earnings per share. Michael Kors Holdings’s revenue was up 53.6% compared to the same quarter last year. On average, analysts predict that Michael Kors Holdings will post $3.95 earnings per share for the current fiscal year.
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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