Kate Spade & Co. (KATE) Downgraded to “Buy” at Vetr Inc.
Vetr cut shares of Kate Spade & Co. (NYSE:KATE) from a strong-buy rating to a buy rating in a research note published on Tuesday morning. They currently have $20.75 target price on the stock.
Several other analysts have also recently weighed in on the stock. Wells Fargo & Co. raised shares of Kate Spade & Co. from a market perform rating to an outperform rating and upped their price objective for the stock from $17.00 to $23.50 in a research note on Tuesday, September 13th. Zacks Investment Research cut shares of Kate Spade & Co. from a hold rating to a sell rating in a research note on Wednesday, August 24th. SunTrust Banks Inc. decreased their price objective on shares of Kate Spade & Co. from $25.00 to $18.00 and set a neutral rating on the stock in a research note on Thursday, August 4th. Citigroup Inc. decreased their price objective on shares of Kate Spade & Co. from $33.00 to $23.00 and set a buy rating on the stock in a research note on Thursday, August 4th. Finally, Wedbush decreased their price objective on shares of Kate Spade & Co. from $30.00 to $22.00 and set an outperform rating on the stock in a research note on Thursday, August 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. Kate Spade & Co. currently has an average rating of Buy and a consensus price target of $24.20.
Kate Spade & Co. (NYSE:KATE) opened at 18.62 on Tuesday. Kate Spade & Co. has a 52-week low of $15.10 and a 52-week high of $26.46. The firm’s 50-day moving average is $19.07 and its 200 day moving average is $21.83. The stock has a market capitalization of $2.38 billion, a PE ratio of 23.30 and a beta of 2.17.
Kate Spade & Co. (NYSE:KATE) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.05. The firm had revenue of $320 million for the quarter, compared to analysts’ expectations of $318.55 million. Kate Spade & Co. had a net margin of 7.86% and a return on equity of 28.45%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 earnings per share. On average, equities analysts forecast that Kate Spade & Co. will post $0.65 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in Kate Spade & Co. during the fourth quarter valued at $15,464,000. Sanders Morris Harris Inc. bought a new stake in shares of Kate Spade & Co. during the first quarter worth approximately $1,199,000. Aperio Group LLC raised its stake in shares of Kate Spade & Co. by 58.9% in the first quarter. Aperio Group LLC now owns 21,581 shares of the company’s stock worth $551,000 after buying an additional 7,999 shares during the last quarter. CIBC World Markets Inc. bought a new stake in shares of Kate Spade & Co. during the first quarter worth approximately $2,933,000. Finally, Teachers Advisors Inc. raised its stake in shares of Kate Spade & Co. by 11.0% in the first quarter. Teachers Advisors Inc. now owns 1,435,838 shares of the company’s stock worth $36,643,000 after buying an additional 142,866 shares during the last quarter.
About Kate Spade & Co.
Kate Spade & Company is engaged in the design and marketing of a range of accessories and apparel. The Company operates through three segments, which include KATE SPADE North America, KATE SPADE International and Adelington Design Group. The KATE SPADE North America segment consists of the Company’s kate spade new york and JACK SPADE brands in North America.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Kate Spade & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kate Spade & Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.