Michael Kors (KORS) Rating Increased to Strong-Buy at ValuEngine

ValuEngine upgraded shares of Michael Kors (NYSE:KORS) from a buy rating to a strong-buy rating in a report released on Sunday.

A number of other research firms have also recently commented on KORS. Robert W. Baird set a $46.00 price target on Michael Kors and gave the stock a hold rating in a research note on Sunday, October 1st. Canaccord Genuity upgraded Michael Kors from a hold rating to a buy rating and upped their price target for the stock from $43.00 to $58.00 in a research note on Wednesday, September 27th. Wells Fargo & Co restated a hold rating and set a $49.00 price target on shares of Michael Kors in a research note on Tuesday, September 26th. TheStreet upgraded Michael Kors from a c+ rating to a b rating in a research note on Monday, November 6th. Finally, Buckingham Research set a $52.00 price target on Michael Kors and gave the stock a hold rating in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Michael Kors presently has a consensus rating of Hold and a consensus target price of $52.81.

Michael Kors (NYSE:KORS) traded down $0.23 on Friday, reaching $63.80. The company had a trading volume of 1,959,300 shares, compared to its average volume of 1,799,150. Michael Kors has a 12-month low of $32.38 and a 12-month high of $64.36. The firm has a market capitalization of $9,700.00, a PE ratio of 17.77, a PEG ratio of 2.16 and a beta of 0.12.

Michael Kors (NYSE:KORS) last released its quarterly earnings data on Monday, November 6th. The lifestyle brand reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.50. Michael Kors had a return on equity of 42.09% and a net margin of 12.68%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the firm posted $0.95 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. equities research analysts expect that Michael Kors will post 3.96 EPS for the current year.

In related news, CEO John D. Idol sold 500 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $55.12, for a total value of $27,560.00. Following the transaction, the chief executive officer now owns 1,688,046 shares of the company’s stock, valued at $93,045,095.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Krista A. Mcdonough sold 7,500 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $55.93, for a total value of $419,475.00. Following the completion of the transaction, the senior vice president now directly owns 10,647 shares in the company, valued at approximately $595,486.71. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,835 shares of company stock worth $964,403. Insiders own 6.00% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC grew its holdings in shares of Michael Kors by 97.5% during the third quarter. Parametric Portfolio Associates LLC now owns 299,854 shares of the lifestyle brand’s stock worth $14,348,000 after purchasing an additional 147,999 shares during the last quarter. IFM Investors Pty Ltd purchased a new position in shares of Michael Kors during the third quarter worth about $288,000. California Public Employees Retirement System grew its holdings in shares of Michael Kors by 3.1% during the third quarter. California Public Employees Retirement System now owns 500,027 shares of the lifestyle brand’s stock worth $23,926,000 after purchasing an additional 14,927 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Michael Kors by 58.8% during the third quarter. Janus Henderson Group PLC now owns 64,058 shares of the lifestyle brand’s stock worth $3,065,000 after purchasing an additional 23,717 shares during the last quarter. Finally, Vident Investment Advisory LLC purchased a new position in shares of Michael Kors during the third quarter worth about $704,000. 86.32% of the stock is currently 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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