Michael Kors (KORS) Upgraded at ValuEngine

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

A number of other research analysts have also issued reports on KORS. Cowen set a $71.00 target price on shares of Michael Kors and gave the company a “hold” rating in a report on Wednesday. Needham & Company LLC upped their target price on shares of Michael Kors from $69.00 to $75.00 and gave the company a “buy” rating in a report on Thursday. Bank of America upped their target price on shares of Michael Kors from $58.00 to $69.00 and gave the company a “neutral” rating in a report on Thursday. Barclays set a $75.00 target price on shares of Michael Kors and gave the company an “equal weight” rating in a report on Thursday. Finally, Wolfe Research upped their target price on shares of Michael Kors from $73.00 to $81.00 and gave the company an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Michael Kors currently has a consensus rating of “Hold” and an average target price of $61.75.

Michael Kors (NYSE:KORS) traded down $6.08 during trading on Thursday, hitting $60.03. 5,993,383 shares of the company traded hands, compared to its average volume of 1,940,000. Michael Kors has a 1-year low of $32.38 and a 1-year high of $69.95. The stock has a market cap of $9,130.00, a price-to-earnings ratio of 17.81, a PEG ratio of 2.19 and a beta of 0.08.

Michael Kors (NYSE:KORS) last released its earnings results on Wednesday, February 7th. The lifestyle brand reported $1.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.48. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. Michael Kors had a net margin of 12.68% and a return on equity of 42.09%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 EPS. equities analysts anticipate that Michael Kors will post 3.99 earnings per share for the current year.

In related news, SVP Pascale Meyran sold 6,835 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now owns 10,081 shares of the company’s stock, valued at approximately $604,960.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Krista A. Mcdonough sold 7,500 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $55.93, for a total transaction of $419,475.00. Following the sale, the senior vice president now directly owns 10,647 shares of the company’s stock, valued at approximately $595,486.71. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of KORS. Dimensional Fund Advisors LP increased its position in Michael Kors by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 932,614 shares of the lifestyle brand’s stock worth $33,805,000 after purchasing an additional 38,625 shares in the last quarter. Janus Henderson Group PLC increased its position in Michael Kors by 75.2% during the 2nd quarter. Janus Henderson Group PLC now owns 40,341 shares of the lifestyle brand’s stock worth $1,462,000 after purchasing an additional 17,310 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in Michael Kors during the 2nd quarter worth approximately $306,000. Cubist Systematic Strategies LLC increased its position in Michael Kors by 46.4% during the 2nd 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 in the last quarter. Finally, Toronto Dominion Bank increased its position in Michael Kors by 19.7% during the 2nd 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 in the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.

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About Michael Kors

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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