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

Other equities research analysts also recently issued research reports about the stock. Wolfe Research raised shares of Michael Kors from a peer perform rating to an outperform rating and set a $73.00 price target on the stock in a research note on Thursday, December 14th. Canaccord Genuity reissued a buy rating and issued a $67.00 target price (up previously from $58.00) on shares of Michael Kors in a research note on Friday, November 3rd. Goldman Sachs Group began coverage on shares of Michael Kors in a research note on Tuesday, December 5th. They issued a buy rating and a $70.00 target price on the stock. Needham & Company LLC began coverage on shares of Michael Kors in a research note on Monday, December 18th. They issued a buy rating and a $69.00 target price on the stock. Finally, Jefferies Group reissued a buy rating on shares of Michael Kors in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $61.76.

Michael Kors (NYSE:KORS) traded down $1.97 on Thursday, hitting $58.06. 2,192,087 shares of the company’s stock were exchanged, compared to its average volume of 2,180,765. The company has a market capitalization of $10,053.13, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.93 and a beta of 0.08. Michael Kors has a fifty-two week low of $32.38 and a fifty-two week high of $69.95. The company has a current ratio of 2.00, a quick ratio of 1.34 and a debt-to-equity ratio of 0.48.

Michael Kors (NYSE:KORS) last posted its quarterly earnings results on Wednesday, February 7th. The lifestyle brand reported $1.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.48. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.38 billion. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. The company’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.64 earnings per share. equities research analysts expect that Michael Kors will post 4.46 EPS for the current year.

In related news, SVP Pascale Meyran sold 6,835 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $60.01, for a total value of $410,168.35. Following the completion of the transaction, the senior vice president now directly owns 10,081 shares of the company’s stock, valued at approximately $604,960.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Krista A. Mcdonough sold 7,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 10,647 shares of the company’s stock, valued at $595,486.71. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of KORS. American Century Companies Inc. grew its stake in shares of Michael Kors by 2,006.2% during the 4th quarter. American Century Companies Inc. now owns 1,342,506 shares of the lifestyle brand’s stock worth $84,511,000 after purchasing an additional 1,278,764 shares during the period. Bank of Montreal Can grew its stake in Michael Kors by 568.5% in the 4th quarter. Bank of Montreal Can now owns 1,115,901 shares of the lifestyle brand’s stock valued at $70,246,000 after acquiring an additional 948,966 shares during the period. Acadian Asset Management LLC grew its stake in Michael Kors by 493.5% in the 4th quarter. Acadian Asset Management LLC now owns 939,826 shares of the lifestyle brand’s stock valued at $59,163,000 after acquiring an additional 781,460 shares during the period. Ardevora Asset Management LLP acquired a new stake in Michael Kors in the 3rd quarter valued at $37,089,000. Finally, Contrarius Investment Management Ltd grew its stake in Michael Kors by 171.8% in the 3rd quarter. Contrarius Investment Management Ltd now owns 702,327 shares of the lifestyle brand’s stock valued at $33,606,000 after acquiring an additional 443,965 shares during the period. 86.57% of the stock is currently owned by institutional investors and hedge funds.

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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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