Michael Kors Holdings Limited (NYSE:KORS) has been given a $34.00 price target by analysts at Buckingham Research in a report released on Tuesday. The firm presently has a “hold” rating on the lifestyle brand’s stock. Buckingham Research’s price target indicates a potential downside of 8.68% from the stock’s current price.

A number of other equities analysts have also recently commented on KORS. Piper Jaffray Companies reissued a “hold” rating and set a $34.00 target price on shares of Michael Kors Holdings Limited in a report on Friday, June 9th. BMO Capital Markets set a $35.00 target price on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research note on Thursday, July 6th. Oppenheimer Holdings, Inc. set a $31.00 target price on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research note on Wednesday, May 31st. Morgan Stanley reissued an “equal weight” rating and set a $36.00 target price (down previously from $43.00) on shares of Michael Kors Holdings Limited in a research note on Thursday, June 1st. Finally, Canaccord Genuity set a $33.00 target price on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research note on Monday, June 12th. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $39.42.

Michael Kors Holdings Limited (NYSE KORS) traded up 21.81% on Tuesday, hitting $45.35. The stock had a trading volume of 9,884,572 shares. The stock has a market cap of $7.06 billion, a P/E ratio of 13.78 and a beta of 0.10. The company’s 50 day moving average is $35.18 and its 200-day moving average is $37.09. Michael Kors Holdings Limited has a 12 month low of $32.38 and a 12 month high of $52.67.

Michael Kors Holdings Limited (NYSE:KORS) last issued its quarterly earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.18. The company had revenue of $952.40 million for the quarter, compared to the consensus estimate of $919.18 million. Michael Kors Holdings Limited had a return on equity of 41.00% and a net margin of 12.38%. Michael Kors Holdings Limited’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 earnings per share. Analysts forecast that Michael Kors Holdings Limited will post $3.54 EPS for the current year.

Michael Kors Holdings Limited announced that its Board of Directors has initiated a share buyback program on Wednesday, May 31st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the lifestyle brand to purchase up to 18.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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A number of hedge funds have recently made changes to their positions in KORS. Pacer Advisors Inc. acquired a new stake in shares of Michael Kors Holdings Limited during the second quarter worth about $114,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Michael Kors Holdings Limited by 18.6% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,536 shares of the lifestyle brand’s stock worth $1,469,000 after buying an additional 6,362 shares during the period. Andra AP fonden increased its stake in shares of Michael Kors Holdings Limited by 15.1% in the second quarter. Andra AP fonden now owns 57,300 shares of the lifestyle brand’s stock worth $2,077,000 after buying an additional 7,500 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Michael Kors Holdings Limited by 7.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 517,561 shares of the lifestyle brand’s stock worth $18,762,000 after buying an additional 34,467 shares during the period. Finally, Penserra Capital Management LLC acquired a new stake in shares of Michael Kors Holdings Limited during the second quarter worth about $188,000. 84.89% 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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