ValuEngine downgraded shares of Michael Kors (NYSE:KORS) from a sell rating to a strong sell rating in a report released on Tuesday morning.

KORS has been the topic of a number of other reports. Canaccord Genuity set a $90.00 price target on Michael Kors and gave the stock a buy rating in a research report on Wednesday, September 26th. Deutsche Bank cut their price target on Michael Kors from $84.00 to $83.00 and set a buy rating on the stock in a research note on Thursday, November 1st. Piper Jaffray Companies raised Michael Kors from a neutral rating to an overweight rating and set a $71.00 price target on the stock in a research note on Friday, November 2nd. Zacks Investment Research downgraded Michael Kors from a strong-buy rating to a hold rating in a research note on Wednesday, September 26th. Finally, Sanford C. Bernstein raised Michael Kors from an underperform rating to a market perform rating in a research note on Monday, November 12th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have issued a buy rating to the stock. Michael Kors currently has a consensus rating of Hold and an average target price of $73.36.

KORS stock opened at $44.23 on Tuesday. Michael Kors has a 1-year low of $43.05 and a 1-year high of $75.96. The company has a market capitalization of $6.70 billion, a PE ratio of 8.94, a P/E/G ratio of 1.46 and a beta of 0.39. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.71 and a current ratio of 1.48.

Michael Kors (NYSE:KORS) last released its quarterly earnings results on Wednesday, November 7th. The lifestyle brand reported $1.27 EPS for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.18. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.26 billion. Michael Kors had a return on equity of 36.66% and a net margin of 11.57%. Michael Kors’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.33 EPS. Analysts forecast that Michael Kors will post 5.02 earnings per share for the current year.

In other Michael Kors news, insider Michael David Kors sold 179,920 shares of the stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $73.62, for a total transaction of $13,245,710.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John D. Idol sold 6,676 shares of the stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $65.26, for a total value of $435,675.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 516,516 shares of company stock valued at $36,817,667. Corporate insiders own 6.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Signet Financial Management LLC bought a new position in shares of Michael Kors in the 2nd quarter valued at about $140,000. First Mercantile Trust Co. grew its holdings in Michael Kors by 114.3% during the third quarter. First Mercantile Trust Co. now owns 2,400 shares of the lifestyle brand’s stock worth $164,000 after purchasing an additional 1,280 shares during the period. Cerebellum GP LLC bought a new position in Michael Kors during the third quarter worth about $169,000. Dynamic Technology Lab Private Ltd bought a new position in Michael Kors during the second quarter worth about $200,000. Finally, Financial Gravity Wealth Inc. bought a new position in Michael Kors during the third quarter worth about $203,000. Institutional investors own 85.81% of the company’s stock.

Michael Kors Company Profile

Michael Kors Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

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Analyst Recommendations for Michael Kors (NYSE:KORS)

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