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Equities researchers at Barclays decreased their target price on shares of Michael Kors Holdings (NASDAQ:KORS) from $85.00 to $82.00 in a research report issued on Tuesday. The firm currently has an “underweight” rating on the stock. Barclays’ price target would suggest a potential downside of 4.28% from the stock’s previous close.

Michael Kors Holdings (NASDAQ:KORS) traded down 5.86% on Tuesday, hitting $80.65. 7,094,089 shares of the company’s stock traded hands. Michael Kors Holdings has a one year low of $60.08 and a one year high of $101.04. The stock’s 50-day moving average is $91.57 and its 200-day moving average is $90.77. The company has a market cap of $16.423 billion and a price-to-earnings ratio of 26.61. Michael Kors Holdings also was the target of some unusual options trading activity on Monday. Stock traders bought 21,110 put options on the stock. This represents an increase of approximately 286% compared to the typical volume of 5,467 put options.

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. Analysts expect that Michael Kors Holdings will post $3.97 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. 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 investment analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $106.39.

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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