Michael Kors Holdings Target of Unusually High Options Trading (KORS)
Michael Kors Holdings (NASDAQ:KORS) was the recipient of some unusual options trading activity on Monday. Traders purchased 7,257 call options on the stock, AnalystRatings.Net reports. This represents an increase of approximately 181% compared to the typical daily volume of 2,579 call options.
A number of research firms have recently commented on KORS. Analysts at Piper Jaffray reiterated an “overweight” rating on shares of Michael Kors Holdings in a research note on Tuesday, July 1st. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Michael Kors Holdings from $100.00 to $104.00 in a research note on Friday, June 20th. They now have an “overweight” rating on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Michael Kors Holdings has a consensus rating of “Buy” and an average target price of $106.30.
Michael Kors Holdings (NASDAQ:KORS) traded up 0.99% on Monday, hitting $91.16. 3,703,498 shares of the company’s stock traded hands. Michael Kors Holdings has a 52-week low of $60.08 and a 52-week high of $101.04. The stock’s 50-day moving average is $92.28 and its 200-day moving average is $90.3. The company has a market cap of $18.563 billion and a P/E ratio of 28.03.
Michael Kors Holdings (NASDAQ:KORS) last posted its quarterly 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 $3.97 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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