Michael Kors Holdings Receives Overweight Rating from JPMorgan Chase & Co. (KORS)
Michael Kors Holdings (NASDAQ:KORS)‘s stock had its “overweight” rating restated by stock analysts at JPMorgan Chase & Co. in a report issued on Friday. They currently have a $104.00 price objective on the stock, up from their previous price objective of $100.00. JPMorgan Chase & Co.’s price target would suggest a potential upside of 16.38% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse initiated coverage on shares of Michael Kors Holdings in a research note on Tuesday, June 10th. They set an “outperform” rating and a $107.00 price target on the stock. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Michael Kors Holdings in a research note on Thursday, June 5th. They now have a $103.00 price target on the stock. Finally, analysts at Janney Montgomery Scott raised their price target on shares of Michael Kors Holdings from $121.00 to $122.00 in a research note on Thursday, May 29th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Michael Kors Holdings presently has a consensus rating of “Buy” and an average price target of $105.63.
Michael Kors Holdings (NASDAQ:KORS) traded down 0.53% during mid-day trading on Friday, hitting $88.89. 1,316,633 shares of the company’s stock traded hands. Michael Kors Holdings has a 1-year low of $56.15 and a 1-year high of $101.04. The stock’s 50-day moving average is $93.30 and its 200-day moving average is $89.76. The company has a market cap of $18.101 billion and a P/E ratio of 27.75. Michael Kors Holdings also saw some unusual options trading activity on Tuesday. Investors bought 12,006 put options on the company. This represents an increase of 103% compared to the typical daily volume of 5,908 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. Analysts expect that Michael Kors Holdings will post $3.97 EPS 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.