Michael Kors Holdings Limited (NYSE:KORS) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.

A number of other research firms also recently commented on KORS. Deutsche Bank AG decreased their price objective on shares of Michael Kors Holdings Limited from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, April 25th. Wedbush reissued a “neutral” rating and set a $36.00 price objective on shares of Michael Kors Holdings Limited in a report on Tuesday, March 21st. Zacks Investment Research downgraded shares of Michael Kors Holdings Limited from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. Jefferies Group LLC set a $65.00 price objective on shares of Michael Kors Holdings Limited and gave the stock a “buy” rating in a report on Monday, April 10th. Finally, BMO Capital Markets reissued a “hold” rating and set a $38.00 price objective on shares of Michael Kors Holdings Limited in a report on Wednesday, March 15th. Five research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have issued a buy rating to the company. Michael Kors Holdings Limited presently has a consensus rating of “Hold” and a consensus price target of $39.77.

Michael Kors Holdings Limited (KORS) traded up 1.70% during midday trading on Thursday, hitting $34.03. 1,625,194 shares of the stock traded hands. Michael Kors Holdings Limited has a one year low of $32.38 and a one year high of $53.29. The company’s 50 day moving average is $35.40 and its 200-day moving average is $38.52. The company has a market cap of $5.30 billion, a P/E ratio of 10.34 and a beta of 0.10.

Michael Kors Holdings Limited (NYSE:KORS) last issued its quarterly earnings results on Wednesday, May 31st. The lifestyle brand reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Michael Kors Holdings Limited had a net margin of 12.38% and a return on equity of 41.00%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the business posted $0.98 earnings per share. The business’s revenue was down 11.2% compared to the same quarter last year. On average, equities research analysts forecast that Michael Kors Holdings Limited will post $3.55 EPS for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the company. NINE MASTS CAPITAL Ltd acquired a new stake in Michael Kors Holdings Limited during the first quarter valued at about $149,000. Ameritas Investment Partners Inc. acquired a new stake in Michael Kors Holdings Limited during the first quarter valued at about $154,000. Sandy Spring Bank raised its stake in Michael Kors Holdings Limited by 23.5% in the first quarter. Sandy Spring Bank now owns 4,310 shares of the lifestyle brand’s stock valued at $164,000 after buying an additional 820 shares during the last quarter. Creative Planning raised its stake in Michael Kors Holdings Limited by 30.8% in the second quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock valued at $181,000 after buying an additional 1,180 shares during the last quarter. Finally, Globeflex Capital L P acquired a new stake in Michael Kors Holdings Limited during the first quarter valued at about $198,000. 84.14% of the stock is owned by institutional investors.

Michael Kors Holdings Limited Company Profile

Michael Kors Holdings Limited is a designer, marketer, distributor and retailer of branded women’s apparel and accessories and men’s apparel bearing the Michael Kors tradename and related trademarks MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos. The Company operates through three segments: retail, wholesale and licensing.

Analyst Recommendations for Michael Kors Holdings Limited (NYSE:KORS)

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