Shares of Michael Kors Holdings Ltd (NASDAQ:KORS) have received an average recommendation of “Hold” from the thirty-seven brokerages that are covering the firm, MarketBeat.Com reports. Twenty-two research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $52.71.
A number of equities research analysts have recently issued reports on the stock. Robert W. Baird cut their price objective on shares of Michael Kors Holdings from $45.00 to $42.00 in a research note on Tuesday, January 19th. Vetr raised shares of Michael Kors Holdings from a “hold” rating to a “buy” rating and set a $58.51 price objective for the company in a research note on Monday, February 22nd. Jefferies Group reaffirmed a “buy” rating on shares of Michael Kors Holdings in a research note on Monday, February 1st. They noted that the move was a valuation call. Mizuho upped their price objective on shares of Michael Kors Holdings from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, February 2nd. Finally, Zacks Investment Research raised shares of Michael Kors Holdings from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Monday, March 7th.
Michael Kors Holdings (NASDAQ:KORS) opened at 51.19 on Wednesday. Michael Kors Holdings has a one year low of $34.83 and a one year high of $64.98. The stock has a 50 day moving average of $56.35 and a 200 day moving average of $45.46. The firm has a market cap of $9.16 billion and a price-to-earnings ratio of 11.81.
Michael Kors Holdings (NASDAQ:KORS) last released its quarterly earnings results on Tuesday, February 2nd. The lifestyle brand reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.13. During the same period in the prior year, the firm earned $1.48 EPS. The company earned $1.34 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Michael Kors Holdings’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts predict that Michael Kors Holdings will post $4.43 EPS for the current fiscal year.
Several institutional investors have bought and sold shares of KORS. Convector Capital Management LP acquired a new position in Michael Kors Holdings during the fourth quarter worth about $1,122,000. Janus Capital Management boosted its stake in Michael Kors Holdings by 10.0% in the third quarter. Janus Capital Management now owns 103,504 shares of the lifestyle brand’s stock worth $4,372,000 after buying an additional 9,369 shares during the last quarter. Candriam Luxembourg S.C.A. purchased a new stake in Michael Kors Holdings during the fourth quarter worth approximately $5,078,000. Wilsey Asset Management boosted its stake in Michael Kors Holdings by 4.1% in the fourth quarter. Wilsey Asset Management now owns 152,141 shares of the lifestyle brand’s stock worth $6,094,000 after buying an additional 5,976 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Michael Kors Holdings by 115.3% in the fourth quarter. Nordea Investment Management AB now owns 253,299 shares of the lifestyle brand’s stock worth $10,147,000 after buying an additional 135,651 shares during the last quarter.
Michael Kors Holdings Limited is a global accessories, footwear and apparel company. The Company operates its business in three segments: retail, wholesale and licensing. It offers two primary collections: the Michael Kors luxury collection and the MICHAEL Michael Kors accessible luxury collection. In the Michael Kors collection, it offers accessories, including handbags and small leather goods, many of which are made from leathers and other exotic skins, footwear and apparel, including ready-to-wear women swear and menswear.