Jefferies Group restated their buy rating on shares of Michael Kors (NYSE:KORS) in a research note issued to investors on Wednesday. The brokerage currently has a $90.00 target price on the lifestyle brand’s stock. Jefferies Group also issued estimates for Michael Kors’ Q4 2018 earnings at $0.61 EPS, FY2018 earnings at $4.50 EPS and FY2019 earnings at $5.00 EPS.

Other equities research analysts have also issued research reports about the company. Wolfe Research raised Michael Kors from a peer perform rating to an outperform rating and set a $73.00 price target on the stock in a research report on Thursday, December 14th. ValuEngine raised Michael Kors from a hold rating to a buy rating in a research report on Tuesday, November 14th. Canaccord Genuity reaffirmed a buy rating and issued a $67.00 price target (up previously from $58.00) on shares of Michael Kors in a research report on Friday, November 3rd. Goldman Sachs Group initiated coverage on Michael Kors in a research report on Tuesday, December 5th. They issued a buy rating and a $70.00 price target on the stock. Finally, Needham & Company LLC initiated coverage on Michael Kors in a research report on Monday, December 18th. They issued a buy rating and a $69.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $62.32.

Michael Kors (KORS) opened at $59.80 on Wednesday. Michael Kors has a 12 month low of $32.38 and a 12 month 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. The stock has a market capitalization of $9,134.61, a PE ratio of 12.97, a P/E/G ratio of 1.74 and a beta of 0.08.

Michael Kors (NYSE:KORS) last posted its earnings results on Wednesday, February 7th. The lifestyle brand reported $1.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.48. Michael Kors had a return on equity of 40.86% and a net margin of 11.32%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the company earned $1.64 EPS. Michael Kors’s revenue was up 6.4% on a year-over-year basis. analysts forecast that Michael Kors will post 4.49 earnings per share for the current year.

In other news, SVP Krista A. Mcdonough sold 7,500 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $55.93, for a total value of $419,475.00. Following the transaction, the senior vice president now owns 10,647 shares in the company, valued at approximately $595,486.71. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Pascale Meyran sold 6,835 shares of the stock in a transaction dated 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 owns 10,081 shares in the company, valued at approximately $604,960.81. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in KORS. Renaissance Technologies LLC grew its stake in Michael Kors by 95.8% during the 2nd quarter. Renaissance Technologies LLC now owns 621,000 shares of the lifestyle brand’s stock worth $22,511,000 after buying an additional 303,800 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Michael Kors by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 932,614 shares of the lifestyle brand’s stock worth $33,805,000 after buying an additional 38,625 shares during the last quarter. First Allied Advisory Services Inc. grew its stake in Michael Kors by 5.3% during the 2nd quarter. First Allied Advisory Services Inc. now owns 6,752 shares of the lifestyle brand’s stock worth $251,000 after buying an additional 337 shares during the last quarter. Janus Henderson Group PLC grew its stake in Michael Kors by 75.2% during the 2nd quarter. Janus Henderson Group PLC now owns 40,341 shares of the lifestyle brand’s stock worth $1,462,000 after buying an additional 17,310 shares during the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in Michael Kors during the 2nd quarter worth approximately $306,000. Institutional investors and hedge funds own 86.57% of the company’s stock.

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Michael Kors 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 (NYSE:KORS)

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