Michael Kors (KORS) Upgraded to Strong-Buy at ValuEngine

Michael Kors (NYSE:KORS) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a report released on Friday.

Several other equities analysts have also weighed in on the company. Cowen restated a “hold” rating on shares of Michael Kors in a report on Friday, November 10th. Jefferies Group reaffirmed a “buy” rating on shares of Michael Kors in a research report on Friday, November 10th. Deutsche Bank raised their price target on Michael Kors from $46.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. Zacks Investment Research raised Michael Kors from a “hold” rating to a “strong-buy” rating and set a $63.00 price target on the stock in a research report on Wednesday, November 8th. Finally, TheStreet raised Michael Kors from a “c+” rating to a “b” rating in a research report on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $49.84.

Shares of Michael Kors (NYSE KORS) opened at $57.98 on Friday. Michael Kors has a 1-year low of $32.38 and a 1-year high of $59.27. The stock has a market capitalization of $8,816.84, a price-to-earnings ratio of 12.88, a P/E/G ratio of 1.95 and a beta of 0.11.

Michael Kors (NYSE:KORS) last announced its quarterly earnings data on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.50. Michael Kors had a return on equity of 42.09% and a net margin of 12.68%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company earned $0.95 earnings per share. Michael Kors’s quarterly revenue was up 5.4% compared to the same quarter last year. sell-side analysts expect that Michael Kors will post 3.96 EPS for the current fiscal year.

In other Michael Kors news, CEO John D. Idol sold 500 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $55.12, for a total transaction of $27,560.00. Following the completion of the sale, the chief executive officer now owns 1,688,046 shares in the company, valued at approximately $93,045,095.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Krista A. Mcdonough sold 7,500 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $55.93, for a total transaction of $419,475.00. Following the sale, the senior vice president now owns 10,647 shares of the company’s stock, valued at approximately $595,486.71. The disclosure for this sale can be found here. Insiders sold a total of 10,000 shares of company stock valued at $554,235 in the last 90 days. 6.00% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of KORS. Pacer Advisors Inc. acquired a new position in shares of Michael Kors in the 2nd quarter valued at $114,000. Sandy Spring Bank grew its holdings in shares of Michael Kors by 0.9% in the 2nd quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock valued at $158,000 after buying an additional 40 shares during the period. TrimTabs Asset Management LLC grew its holdings in shares of Michael Kors by 105.1% in the 2nd 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 during the period. Creative Planning boosted its stake in Michael Kors by 30.8% in the 2nd quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock worth $181,000 after purchasing an additional 1,180 shares during the period. Finally, Penserra Capital Management LLC acquired a new position in Michael Kors in the 2nd quarter worth $188,000. Institutional investors own 86.50% of the company’s stock.

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Michael Kors 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Michael Kors (NYSE:KORS)

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