Investment Analysts’ Recent Ratings Changes for Michael Kors Holdings Limited (KORS)

A number of research firms have changed their ratings and price targets for Michael Kors Holdings Limited (NYSE: KORS):

  • 10/29/2017 – Michael Kors Holdings Limited was given a new $60.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.
  • 10/20/2017 – Michael Kors Holdings Limited was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 10/20/2017 – Michael Kors Holdings Limited had its “buy” rating reaffirmed by analysts at William Blair.
  • 10/17/2017 – Michael Kors Holdings Limited was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Michael Kors have outperformed the industry in the past three months owing to positive earnings streak and upbeat fiscal 2018 guidance. After reporting both top and bottom-line beat in first-quarter fiscal 2018, the company now envisions total revenues for fiscal 2018 to be nearly $4.275 billion, up from the previous estimate of about $4.25 billion. Meanwhile, Michael Kors’ acquisition of Jimmy Choo will help diversify portfolio and tap international markets. The company has been constantly deploying resources to expand product offerings, open new stores, build shop-in-shops and upgrade eCommerce platform. We note that despite the possibility of heavy investments weighing on margins in the short term, management continues to take up strategic endeavors. However, stiff competition, falling comps, aggressive promotional environment and waning mall traffic are making things tough for Michael Kors.”
  • 10/11/2017 – Michael Kors Holdings Limited was given a new $55.00 price target on by analysts at Oppenheimer Holdings, Inc.. They now have a “buy” rating on the stock.
  • 10/10/2017 – Michael Kors Holdings Limited was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $53.00 price target on the stock. According to Zacks, “Shares of Michael Kors took a sharp “U–turn” following the company’s positive earnings streak for the ninth straight quarter and upbeat fiscal 2018 guidance. The bullish run in the stock price helped it to outpace the industry in the past three months. Revenues also came ahead of the estimate for the second quarter in row on account of robust retail sales performance. The company now envisions fiscal 2018 total revenue to be nearly $4.275 billion, up from the previous estimate of about $4.25 billion. On the other hand, Michael Kors’ acquisition of Jimmy Choo will help diversify portfolio and tap international markets. The company has been constantly deploying resources to expand product offerings, open new stores, build shop-in-shops and upgrade eCommerce platform. We note that despite the possibility of heavy investments weighing on margins in the short term, management continues to take up strategic endeavors.”
  • 10/6/2017 – Michael Kors Holdings Limited was given a new $52.00 price target on by analysts at Buckingham Research. They now have a “hold” rating on the stock.
  • 10/1/2017 – Michael Kors Holdings Limited was given a new $46.00 price target on by analysts at Robert W. Baird. They now have a “hold” rating on the stock.
  • 9/27/2017 – Michael Kors Holdings Limited was upgraded by analysts at Canaccord Genuity from a “hold” rating to a “buy” rating. They now have a $58.00 price target on the stock, up previously from $43.00.
  • 9/27/2017 – Michael Kors Holdings Limited was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 9/26/2017 – Michael Kors Holdings Limited had its “hold” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $49.00 price target on the stock.
  • 9/19/2017 – Michael Kors Holdings Limited was upgraded by analysts at Oppenheimer Holdings, Inc. from a “market perform” rating to an “outperform” rating. They now have a $55.00 price target on the stock, up previously from $44.00.
  • 9/19/2017 – Michael Kors Holdings Limited was upgraded by analysts at CIBC from a “market perform” rating to an “outperform” rating. They now have a $55.00 price target on the stock, up previously from $44.00.
  • 9/19/2017 – Michael Kors Holdings Limited is now covered by analysts at Barclays PLC. They set an “equal weight” rating and a $44.00 price target on the stock.
  • 9/14/2017 – Michael Kors Holdings Limited had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $60.00 price target on the stock.
  • 9/12/2017 – Michael Kors Holdings Limited is now covered by analysts at Sanford C. Bernstein. They set an “underperform” rating and a $37.00 price target on the stock.
  • 9/10/2017 – Michael Kors Holdings Limited had its “hold” rating reaffirmed by analysts at Credit Suisse Group. They now have a $43.00 price target on the stock.

Michael Kors Holdings Limited (NYSE KORS) traded down 0.727% during trading on Wednesday, hitting $48.455. The stock had a trading volume of 1,997,517 shares. Michael Kors Holdings Limited has a 1-year low of $32.38 and a 1-year high of $52.33. The company has a market capitalization of $7.34 billion, a P/E ratio of 14.863 and a beta of 0.03. The stock’s 50-day moving average price is $47.43 and its 200-day moving average price is $40.12.

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

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.

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