Michael Kors Holdings Limited (NYSE:KORS) has been given a $46.00 price objective by Piper Jaffray Companies in a report released on Tuesday. The brokerage currently has a “hold” rating on the lifestyle brand’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 1.66% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Deutsche Bank AG reiterated a “hold” rating and issued a $36.00 target price (down previously from $40.00) on shares of Michael Kors Holdings Limited in a research report on Saturday, June 3rd. BidaskClub upgraded shares of Michael Kors Holdings Limited from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. BMO Capital Markets set a $35.00 target price on shares of Michael Kors Holdings Limited and gave the stock a “hold” rating in a research report on Wednesday, May 31st. Credit Suisse Group set a $36.00 target price on shares of Michael Kors Holdings Limited and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Finally, Telsey Advisory Group cut their target price on shares of Michael Kors Holdings Limited from $42.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday, June 1st. 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 stock. The company has an average rating of “Hold” and an average target price of $39.90.

Shares of Michael Kors Holdings Limited (NYSE:KORS) traded up 21.54% during midday trading on Tuesday, reaching $45.25. The company’s stock had a trading volume of 14,428,393 shares. The company has a market capitalization of $7.04 billion, a P/E ratio of 13.75 and a beta of 0.10. Michael Kors Holdings Limited has a one year low of $32.38 and a one year high of $52.67. The stock’s 50-day moving average is $35.34 and its 200-day moving average is $37.08.

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

Michael Kors Holdings Limited announced that its board has initiated a stock repurchase program on Wednesday, May 31st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the lifestyle brand to purchase up to 18.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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A number of hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. bought a new stake in Michael Kors Holdings Limited during the second quarter valued at about $114,000. NINE MASTS CAPITAL Ltd bought a new stake in Michael Kors Holdings Limited during the first quarter valued at about $149,000. Ameritas Investment Partners Inc. bought 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 in the last quarter. Finally, TrimTabs Asset Management LLC raised its stake in Michael Kors Holdings Limited by 105.1% in the second quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock valued at $164,000 after buying an additional 2,325 shares in the last quarter. Institutional investors own 84.89% of the company’s stock.

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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