Michael Kors Holdings Given Neutral Rating at Citigroup Inc. (KORS)
Michael Kors Holdings (NASDAQ:KORS)‘s stock had its “neutral” rating reiterated by Citigroup Inc. in a research note issued on Tuesday. They currently have a $87.00 target price on the stock, down from their previous target price of $98.00. Citigroup Inc.’s price target suggests a potential upside of 12.97% from the stock’s previous close.
A number of other firms have also recently commented on KORS. Analysts at Topeka Capital Markets raised their price target on shares of Michael Kors Holdings from $117.00 to $120.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at Bank of America initiated coverage on shares of Michael Kors Holdings in a research note on Thursday, July 31st. They set a “buy” rating and a $120.00 price target on the stock. Finally, analysts at Robert W. Baird downgraded shares of Michael Kors Holdings from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 30th. They now have a $98.00 price target on the stock, down previously from $114.00. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $105.16.
Michael Kors Holdings (NASDAQ:KORS) traded up 2.75% during mid-day trading on Tuesday, hitting $79.13. The stock had a trading volume of 4,828,678 shares. Michael Kors Holdings has a one year low of $67.85 and a one year high of $101.04. The stock’s 50-day moving average is $86.1 and its 200-day moving average is $90.93. The company has a market cap of $16.113 billion and a P/E ratio of 23.92. Michael Kors Holdings also was the target of some unusual options trading on Monday. Traders acquired 20,102 put options on the company. This is an increase of approximately 115% compared to the average daily volume of 9,370 put options.
Michael Kors Holdings (NASDAQ:KORS) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.91 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.81 by $0.10. The company had revenue of $9.19 billion for the quarter, compared to the consensus estimate of $852.45 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 43.9% on a year-over-year basis. On average, analysts predict that Michael Kors Holdings will post $3.99 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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