Michael Kors (NYSE:KORS) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Sunday.

A number of other research analysts have also issued reports on KORS. Robert W. Baird set a $46.00 target price on shares of Michael Kors and gave the company a “hold” rating in a research note on Sunday, October 1st. Canaccord Genuity raised shares of Michael Kors from a “hold” rating to a “buy” rating and increased their price target for the company from $43.00 to $58.00 in a report on Wednesday, September 27th. Wells Fargo & Co reissued a “hold” rating and issued a $49.00 price target on shares of Michael Kors in a report on Tuesday, September 26th. TheStreet raised shares of Michael Kors from a “c+” rating to a “b” rating in a report on Monday, November 6th. Finally, Buckingham Research set a $52.00 price target on shares of Michael Kors and gave the company a “hold” rating in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $52.81.

Michael Kors (NYSE KORS) traded down $0.60 during trading hours on Friday, reaching $62.95. 1,312,500 shares of the company were exchanged, compared to its average volume of 2,477,451. Michael Kors has a 1-year low of $32.38 and a 1-year high of $64.30. The firm has a market cap of $9,660.00, a price-to-earnings ratio of 17.53, a PEG ratio of 2.12 and a beta of 0.13.

Michael Kors (NYSE:KORS) last posted its earnings results on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.50. Michael Kors had a net margin of 17.68% and a return on equity of 48.07%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the business posted $0.95 EPS. Michael Kors’s revenue was up 5.4% compared to the same quarter last year. equities research analysts forecast that Michael Kors will post 3.96 EPS for the current fiscal year.

In related news, SVP Pascale Meyran sold 6,835 shares of Michael Kors stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $60.01, for a total transaction of $410,168.35. Following the completion of the transaction, the senior vice president now directly owns 10,081 shares of the company’s stock, valued at approximately $604,960.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Krista A. Mcdonough sold 7,500 shares of Michael Kors stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $55.93, for a total transaction of $419,475.00. Following the transaction, the senior vice president now directly owns 10,647 shares of the company’s stock, valued at $595,486.71. The disclosure for this sale can be found here. Insiders have sold a total of 16,835 shares of company stock valued at $964,403 over the last ninety days. 6.00% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Balasa Dinverno & Foltz LLC lifted its holdings in Michael Kors by 19.3% during the 3rd quarter. Balasa Dinverno & Foltz LLC now owns 8,677 shares of the lifestyle brand’s stock valued at $415,000 after purchasing an additional 1,404 shares during the last quarter. Schroder Investment Management Group lifted its holdings in Michael Kors by 17.4% during the 2nd quarter. Schroder Investment Management Group now owns 2,410,156 shares of the lifestyle brand’s stock valued at $86,042,000 after purchasing an additional 357,661 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Michael Kors during the 3rd quarter valued at about $4,255,000. Systematic Financial Management LP lifted its holdings in Michael Kors by 9,030.5% during the 2nd quarter. Systematic Financial Management LP now owns 251,090 shares of the lifestyle brand’s stock valued at $9,102,000 after purchasing an additional 248,340 shares during the last quarter. Finally, BT Investment Management Ltd bought a new position in Michael Kors during the 2nd quarter valued at about $9,557,000. 86.32% of the stock is owned by hedge funds and other institutional investors.

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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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