Michael Kors Holdings Limited (NYSE:KORS)‘s stock had its “buy” rating reaffirmed by research analysts at Canaccord Genuity in a research note issued on Friday. They currently have a $67.00 target price on the lifestyle brand’s stock, up from their previous target price of $58.00. Canaccord Genuity’s price objective points to a potential upside of 22.62% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Nomura upped their price objective on shares of Michael Kors Holdings Limited from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded shares of Michael Kors Holdings Limited from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Monday, August 14th. Jefferies Group LLC restated a “buy” rating and issued a $60.00 price objective on shares of Michael Kors Holdings Limited in a research note on Thursday, September 14th. ValuEngine upgraded shares of Michael Kors Holdings Limited from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Finally, Oppenheimer Holdings, Inc. set a $55.00 price objective on shares of Michael Kors Holdings Limited and gave the company a “buy” rating in a research note on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $48.94.

Shares of Michael Kors Holdings Limited (KORS) traded up $0.02 during mid-day trading on Friday, hitting $54.64. 3,933,174 shares of the company were exchanged, compared to its average volume of 2,400,000. The firm has a market capitalization of $8,270.00, a P/E ratio of 11.56 and a beta of 0.05. Michael Kors Holdings Limited has a 12-month low of $32.38 and a 12-month high of $55.25.

Michael Kors Holdings Limited (NYSE:KORS) last issued its earnings results on Monday, November 6th. The lifestyle brand reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.50. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.05 billion. Michael Kors Holdings Limited had a net margin of 11.91% and a return on equity of 40.26%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 earnings per share. analysts forecast that Michael Kors Holdings Limited will post 3.74 earnings per share for the current year.

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Several hedge funds have recently modified their holdings of KORS. Flossbach Von Storch AG raised its stake in shares of Michael Kors Holdings Limited by 12.9% in the 2nd quarter. Flossbach Von Storch AG now owns 11,972,527 shares of the lifestyle brand’s stock valued at $434,004,000 after acquiring an additional 1,366,038 shares during the period. BlackRock Inc. raised its stake in shares of Michael Kors Holdings Limited by 9.3% in the 2nd quarter. BlackRock Inc. now owns 15,287,608 shares of the lifestyle brand’s stock valued at $554,176,000 after acquiring an additional 1,301,796 shares during the period. FMR LLC raised its stake in shares of Michael Kors Holdings Limited by 33.9% in the 2nd quarter. FMR LLC now owns 4,378,144 shares of the lifestyle brand’s stock valued at $158,708,000 after acquiring an additional 1,107,385 shares during the period. Ardevora Asset Management LLP purchased a new position in shares of Michael Kors Holdings Limited in the 3rd quarter valued at $37,089,000. Finally, PDT Partners LLC raised its stake in shares of Michael Kors Holdings Limited by 590.2% in the 2nd quarter. PDT Partners LLC now owns 639,200 shares of the lifestyle brand’s stock valued at $23,171,000 after acquiring an additional 546,588 shares during the period. 84.25% of the stock is currently owned by institutional investors and hedge funds.

About Michael Kors Holdings Limited

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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