Michael Kors Holdings’s Underweight Rating Reaffirmed at Barclays (KORS)
Michael Kors Holdings (NASDAQ:KORS)‘s stock had its “underweight” rating restated by equities researchers at Barclays in a research report issued on Tuesday. They currently have a $78.00 price target on the stock, down from their previous price target of $82.00. Barclays’ price objective points to a potential upside of 1.29% from the stock’s previous close.
A number of other firms have also recently commented on KORS. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Michael Kors Holdings in a research note on Tuesday. They now have a $87.00 price target on the stock, down previously from $98.00. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Michael Kors Holdings has a consensus rating of “Buy” and an average price target of $105.16.
Shares of Michael Kors Holdings (NASDAQ:KORS) traded up 2.60% on Tuesday, hitting $79.01. The stock had a trading volume of 4,807,032 shares. Michael Kors Holdings has a 52 week low of $67.85 and a 52 week 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 $16.089 billion and a price-to-earnings ratio of 23.92. Michael Kors Holdings also saw some unusual options trading activity on Monday. Investors purchased 20,102 put options on the stock. This represents an increase of approximately 115% compared to the typical daily volume of 9,370 put options.
Michael Kors Holdings (NASDAQ:KORS) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 43.9% on a year-over-year basis. Analysts expect that Michael Kors Holdings will post $3.99 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.
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