Michael Kors Holdings Limited (NYSE:KORS) has been assigned a $55.00 price target by research analysts at Oppenheimer Holdings, Inc. in a report released on Wednesday. The firm presently has a “buy” rating on the lifestyle brand’s stock. Oppenheimer Holdings, Inc.’s price target suggests a potential upside of 15.42% from the company’s current price.

KORS has been the subject of several other reports. ValuEngine cut Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Jefferies Group LLC set a $60.00 target price on Michael Kors Holdings Limited and gave the company a “buy” rating in a research note on Tuesday, July 4th. Deutsche Bank AG reiterated a “hold” rating and set a $36.00 target price on shares of Michael Kors Holdings Limited in a research note on Friday, June 16th. Barclays PLC assumed coverage on Michael Kors Holdings Limited in a research note on Tuesday, September 19th. They set an “equal weight” rating and a $44.00 target price for the company. Finally, Zacks Investment Research upgraded Michael Kors Holdings Limited from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $45.35.

Michael Kors Holdings Limited (NYSE:KORS) traded up 1.38% during mid-day trading on Wednesday, reaching $47.65. 2,910,790 shares of the company’s stock were exchanged. Michael Kors Holdings Limited has a 52 week low of $32.38 and a 52 week high of $52.67. The company has a market capitalization of $7.22 billion, a P/E ratio of 14.62 and a beta of 0.03. The company’s 50 day moving average price is $45.06 and its 200-day moving average price is $39.04.

Michael Kors Holdings Limited (NYSE:KORS) last released its earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.18. The company had revenue of $952.40 million during the quarter, compared to analysts’ expectations of $919.18 million. Michael Kors Holdings Limited had a return on equity of 40.26% and a net margin of 11.91%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS. On average, equities research analysts expect that Michael Kors Holdings Limited will post $3.71 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of the company. Sandy Spring Bank increased its holdings in shares of Michael Kors Holdings Limited by 0.9% during the second quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock valued at $158,000 after purchasing an additional 40 shares during the period. First Heartland Consultants Inc. increased its holdings in shares of Michael Kors Holdings Limited by 1.9% during the second quarter. First Heartland Consultants Inc. now owns 6,829 shares of the lifestyle brand’s stock valued at $248,000 after purchasing an additional 129 shares during the period. Thrivent Financial For Lutherans increased its holdings in shares of Michael Kors Holdings Limited by 5.8% during the first quarter. Thrivent Financial For Lutherans now owns 6,000 shares of the lifestyle brand’s stock valued at $229,000 after purchasing an additional 330 shares during the period. First Allied Advisory Services Inc. increased its holdings in shares of Michael Kors Holdings Limited by 5.3% during the second quarter. First Allied Advisory Services Inc. now owns 6,752 shares of the lifestyle brand’s stock valued at $251,000 after purchasing an additional 337 shares during the period. Finally, Financial Advisors Network Inc. increased its holdings in shares of Michael Kors Holdings Limited by 5.1% during the second quarter. Financial Advisors Network Inc. now owns 7,854 shares of the lifestyle brand’s stock valued at $285,000 after purchasing an additional 379 shares during the period. 83.39% of the stock is currently 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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