Kate Spade & Co. (NYSE:KATE) Given Average Recommendation of “Buy” by Brokerages
Kate Spade & Co. (NYSE:KATE) has been given an average rating of “Buy” by the twenty-one brokerages that are presently covering the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $24.22.
Several brokerages have recently commented on KATE. Citigroup Inc. restated a “buy” rating and set a $33.00 target price on shares of Kate Spade & Co. in a report on Saturday, June 4th. Vetr upgraded Kate Spade & Co. from a “buy” rating to a “strong-buy” rating and set a $20.75 target price on the stock in a report on Wednesday. Wunderlich decreased their target price on Kate Spade & Co. from $39.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Wedbush decreased their target price on Kate Spade & Co. from $30.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, August 4th. Finally, Zacks Investment Research cut Kate Spade & Co. from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th.
Kate Spade & Co. (NYSE:KATE) traded down 0.517% during trading on Wednesday, reaching $18.285. The company’s stock had a trading volume of 960,252 shares. Kate Spade & Co. has a 52 week low of $15.10 and a 52 week high of $26.46. The firm has a market cap of $2.34 billion, a P/E ratio of 22.885 and a beta of 2.17. The stock’s 50 day moving average is $18.64 and its 200-day moving average is $21.71.
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Kate Spade & Co. (NYSE:KATE) last announced its earnings results on Wednesday, August 3rd. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.14 by $0.05. The company had revenue of $320 million for the quarter, compared to analysts’ expectations of $318.55 million. Kate Spade & Co. had a return on equity of 28.45% and a net margin of 7.86%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share. On average, equities research analysts forecast that Kate Spade & Co. will post $0.65 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. purchased a new position in Kate Spade & Co. during the second quarter worth about $134,000. LS Investment Advisors LLC increased its position in Kate Spade & Co. by 65.5% in the second quarter. LS Investment Advisors LLC now owns 7,875 shares of the company’s stock worth $162,000 after buying an additional 3,118 shares during the last quarter. Invictus RG purchased a new position in Kate Spade & Co. during the second quarter worth about $163,000. PNC Financial Services Group Inc. increased its position in Kate Spade & Co. by 155.5% in the second quarter. PNC Financial Services Group Inc. now owns 9,589 shares of the company’s stock worth $198,000 after buying an additional 5,836 shares during the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new position in Kate Spade & Co. during the second quarter worth about $222,000.
About Kate Spade & Co.
Kate Spade & Company is engaged in the design and marketing of a range of accessories and apparel. The Company operates through three segments, which include KATE SPADE North America, KATE SPADE International and Adelington Design Group. The KATE SPADE North America segment consists of the Company’s kate spade new york and JACK SPADE brands in North America.
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