Michael Kors Holdings Limited (NYSE:KORS)‘s stock had its “hold” rating restated by stock analysts at Credit Suisse Group in a research report issued on Thursday. They currently have a $43.00 price objective on the lifestyle brand’s stock. Credit Suisse Group’s price target suggests a potential downside of 6.07% from the company’s previous close.

A number of other research firms have also issued reports on KORS. MKM Partners reiterated a “sell” rating on shares of Michael Kors Holdings Limited in a research note on Wednesday. Cowen and Company reiterated a “market perform” rating and issued a $45.00 target price (up from $35.00) on shares of Michael Kors Holdings Limited in a research note on Thursday. BMO Capital Markets set a $35.00 target price on shares of Michael Kors Holdings Limited and gave the company a “hold” rating in a research note on Tuesday. Piper Jaffray Companies set a $46.00 target price on shares of Michael Kors Holdings Limited and gave the company a “hold” rating in a research note on Tuesday. Finally, Canaccord Genuity raised their target price on shares of Michael Kors Holdings Limited from $33.00 to $43.00 and gave the company a “hold” rating in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and four have given a buy rating to the stock. Michael Kors Holdings Limited currently has a consensus rating of “Hold” and an average target price of $42.54.

Shares of Michael Kors Holdings Limited (NYSE KORS) traded down 1.81% during trading on Thursday, reaching $44.95. 1,992,214 shares of the company’s stock were exchanged. The firm has a market capitalization of $6.94 billion, a P/E ratio of 13.79 and a beta of 0.10. The company has a 50 day moving average of $36.03 and a 200 day moving average of $37.04. Michael Kors Holdings Limited has a 52-week low of $32.38 and a 52-week high of $52.67.

Michael Kors Holdings Limited (NYSE:KORS) last posted its earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $952.40 million for the quarter, compared to analyst estimates of $919.18 million. During the same period last year, the business posted $0.88 EPS. Michael Kors Holdings Limited’s revenue was down 3.6% compared to the same quarter last year. Equities analysts anticipate that Michael Kors Holdings Limited will post $3.70 earnings per share for the current fiscal year.

Michael Kors Holdings Limited declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 31st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the lifestyle brand to purchase up to 18.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

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Institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. purchased a new position in shares of Michael Kors Holdings Limited during the second quarter valued at about $114,000. NINE MASTS CAPITAL Ltd purchased a new position in shares of Michael Kors Holdings Limited during the first quarter valued at about $149,000. Ameritas Investment Partners Inc. purchased a new position in shares of Michael Kors Holdings Limited during the first quarter valued at about $154,000. Sandy Spring Bank increased its position in shares of Michael Kors Holdings Limited by 23.5% in the first quarter. Sandy Spring Bank now owns 4,310 shares of the lifestyle brand’s stock valued at $164,000 after buying an additional 820 shares in the last quarter. Finally, TrimTabs Asset Management LLC increased its position in shares of Michael Kors Holdings Limited by 105.1% in the second quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock valued at $164,000 after buying an additional 2,325 shares in the last quarter. 84.89% of the stock is owned by hedge funds and other institutional investors.

Michael Kors Holdings Limited Company Profile

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 Holdings Limited (NYSE:KORS)

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