Michael Kors Holdings Limited (NYSE:KORS)‘s stock had its “buy” rating reissued by analysts at Jefferies Group LLC in a note issued to investors on Thursday. They currently have a $60.00 price target on the lifestyle brand’s stock. Jefferies Group LLC’s target price points to a potential upside of 39.79% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Piper Jaffray Companies reissued a “hold” rating and set a $34.00 price objective on shares of Michael Kors Holdings Limited in a research report on Friday, June 9th. BMO Capital Markets set a $35.00 price objective on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research report on Thursday, July 6th. Nomura boosted their price objective on Michael Kors Holdings Limited from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Buckingham Research boosted their price objective on Michael Kors Holdings Limited from $34.00 to $46.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 9th. Finally, MKM Partners reissued a “sell” rating on shares of Michael Kors Holdings Limited in a research report on Wednesday, August 9th. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $42.54.

Shares of Michael Kors Holdings Limited (KORS) traded up 3.61% during trading on Thursday, hitting $44.47. 2,136,479 shares of the company traded hands. The stock has a market capitalization of $6.74 billion and a PE ratio of 13.64. The company has a 50-day moving average of $41.11 and a 200-day moving average of $37.53. Michael Kors Holdings Limited has a 52-week low of $32.38 and a 52-week high of $52.67.

Michael Kors Holdings Limited (NYSE:KORS) last announced its quarterly earnings data on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.18. Michael Kors Holdings Limited had a return on equity of 40.26% and a net margin of 11.91%. The business had revenue of $952.40 million during the quarter, compared to the consensus estimate of $919.18 million. During the same period in the previous year, the company posted $0.88 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts expect that Michael Kors Holdings Limited will post $3.70 EPS for the current year.

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

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Several institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its stake in shares of Michael Kors Holdings Limited by 19.7% during the second quarter. Toronto Dominion Bank now owns 54,874 shares of the lifestyle brand’s stock worth $1,989,000 after purchasing an additional 9,019 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Michael Kors Holdings Limited by 46.4% during the second quarter. Cubist Systematic Strategies LLC now owns 33,727 shares of the lifestyle brand’s stock worth $1,223,000 after purchasing an additional 10,695 shares during the last quarter. Sciencast Management LP purchased a new stake in shares of Michael Kors Holdings Limited during the second quarter worth approximately $264,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Michael Kors Holdings Limited during the second quarter worth approximately $306,000. Finally, Maverick Capital Ltd. purchased a new stake in shares of Michael Kors Holdings Limited during the second quarter worth approximately $1,111,000. Institutional investors and hedge funds own 83.39% 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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