Michael Kors Holdings Limited (NYSE:KORS) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Several other research firms also recently commented on KORS. MKM Partners upgraded shares of Michael Kors Holdings Limited from a “sell” rating to a “neutral” rating and set a $26.00 price target for the company in a research report on Tuesday, November 7th. Jefferies Group LLC reiterated a “buy” rating on shares of Michael Kors Holdings Limited in a research report on Friday, November 10th. Cowen and Company reiterated a “hold” rating on shares of Michael Kors Holdings Limited in a research report on Friday, November 10th. TheStreet upgraded shares of Michael Kors Holdings Limited from a “c+” rating to a “b” rating in a research report on Monday, November 6th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $57.00 price target on shares of Michael Kors Holdings Limited in a research report on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $49.84.

Shares of Michael Kors Holdings Limited (NYSE KORS) traded up $0.69 during trading on Tuesday, hitting $55.87. 406,967 shares of the stock traded hands, compared to its average volume of 2,526,433. Michael Kors Holdings Limited has a fifty-two week low of $32.38 and a fifty-two week high of $55.38. The firm has a market cap of $8,346.94, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.85 and a beta of 0.05.

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

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In other news, CEO John D. Idol sold 500 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $55.12, for a total transaction of $27,560.00. Following the transaction, the chief executive officer now directly owns 1,688,046 shares in the company, valued at approximately $93,045,095.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director M William Benedetto sold 2,000 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $53.60, for a total transaction of $107,200.00. Following the transaction, the director now owns 18,662 shares in the company, valued at $1,000,283.20. The disclosure for this sale can be found here. 6.00% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in KORS. Pacer Advisors Inc. purchased a new position in shares of Michael Kors Holdings Limited during the 2nd quarter worth about $114,000. Sandy Spring Bank lifted its holdings in shares of Michael Kors Holdings Limited by 0.9% during the 2nd quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock worth $158,000 after acquiring an additional 40 shares during the period. TrimTabs Asset Management LLC lifted its holdings in shares of Michael Kors Holdings Limited by 105.1% during the 2nd quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock worth $164,000 after acquiring an additional 2,325 shares during the period. Creative Planning lifted its holdings in shares of Michael Kors Holdings Limited by 30.8% during the 2nd quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock worth $181,000 after acquiring an additional 1,180 shares during the period. Finally, Penserra Capital Management LLC purchased a new position in shares of Michael Kors Holdings Limited during the 2nd quarter worth about $188,000. Institutional investors and hedge funds own 85.21% of the company’s stock.

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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