Michael Kors (KORS) Price Target Raised to $69.00

Michael Kors (NYSE:KORS) had its price objective upped by Bank of America from $58.00 to $69.00 in a research report released on Thursday. Bank of America currently has a neutral rating on the lifestyle brand’s stock.

Several other research firms have also weighed in on KORS. OTR Global raised shares of Michael Kors to a positive rating in a research note on Tuesday, January 30th. Barclays lifted their price target on shares of Michael Kors from $58.00 to $69.00 and gave the company an equal weight rating in a research note on Thursday, January 25th. Oppenheimer lifted their price target on shares of Michael Kors from $62.00 to $74.00 and gave the company an outperform rating in a research note on Wednesday, January 24th. Jefferies Group reaffirmed a buy rating and issued a $90.00 price target on shares of Michael Kors in a research note on Wednesday. Finally, Needham & Company LLC lifted their price target on shares of Michael Kors from $69.00 to $75.00 and gave the company a buy rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Michael Kors presently has an average rating of Hold and a consensus price target of $61.76.

Michael Kors (NYSE:KORS) traded down $3.10 during trading on Thursday, reaching $56.93. 2,767,866 shares of the company traded hands, compared to its average volume of 2,185,931. Michael Kors has a twelve month low of $32.38 and a twelve month high of $69.95. The company has a market cap of $10,053.13, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.93 and a beta of 0.08. The company has a quick ratio of 1.34, a current ratio of 2.00 and a debt-to-equity ratio of 0.48.

Michael Kors (NYSE:KORS) last released its quarterly earnings data on Wednesday, February 7th. The lifestyle brand reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.48. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm earned $1.64 EPS. Michael Kors’s quarterly revenue was up 6.4% compared to the same quarter last year. research analysts anticipate that Michael Kors will post 4.46 EPS for the current fiscal year.

In related news, SVP Krista A. Mcdonough sold 7,500 shares of the business’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 transaction, the senior vice president now directly owns 10,647 shares in the company, valued at $595,486.71. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Pascale Meyran sold 6,835 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $60.01, for a total transaction of $410,168.35. Following the transaction, the senior vice president now owns 10,081 shares in the company, valued at $604,960.81. The disclosure for this sale can be found here. 6.00% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. USA Mutuals Advisors Inc. acquired a new position in Michael Kors during the fourth quarter worth $100,000. Cerebellum GP LLC acquired a new position in shares of Michael Kors in the fourth quarter valued at $126,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Michael Kors in the fourth quarter valued at $190,000. IFP Advisors Inc increased its holdings in shares of Michael Kors by 29.5% in the fourth quarter. IFP Advisors Inc now owns 3,432 shares of the lifestyle brand’s stock valued at $216,000 after purchasing an additional 781 shares during the last quarter. Finally, CAPROCK Group Inc. acquired a new position in shares of Michael Kors in the fourth quarter valued at $219,000. Institutional investors and hedge funds own 86.57% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This story was published by Community Financial News and is the property of of Community Financial News. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright law. The original version of this story can be read at https://www.com-unik.info/2018/02/09/michael-kors-kors-price-target-raised-to-69-00.html.

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.

Analyst Recommendations for Michael Kors (NYSE:KORS)

Receive News & Ratings for Michael Kors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Michael Kors and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit