Barclays PLC assumed coverage on shares of Michael Kors Holdings Limited (NYSE:KORS) in a report issued on Tuesday. The firm issued an equal weight rating on the lifestyle brand’s stock.

A number of other equities research analysts have also weighed in on KORS. Canaccord Genuity lifted their price objective on Michael Kors Holdings Limited from $33.00 to $43.00 and gave the stock a hold rating in a research report on Wednesday, August 9th. BMO Capital Markets reiterated a market perform rating and issued a $46.00 price objective (up from $35.00) on shares of Michael Kors Holdings Limited in a research report on Wednesday, August 9th. Cowen and Company reiterated a market perform rating and issued a $45.00 price objective (up from $35.00) on shares of Michael Kors Holdings Limited in a research report on Thursday, August 10th. Telsey Advisory Group lifted their price objective on Michael Kors Holdings Limited from $38.00 to $49.00 and gave the stock a market perform rating in a research report on Wednesday, August 9th. Finally, Deutsche Bank AG set a $46.00 price objective on Michael Kors Holdings Limited and gave the stock a hold rating in a research report on Thursday, August 10th. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and six have given a buy rating to the company’s stock. Michael Kors Holdings Limited presently has a consensus rating of Hold and an average price target of $43.94.

Michael Kors Holdings Limited (NYSE KORS) opened at 46.18 on Tuesday. The firm has a 50-day moving average price of $42.35 and a 200-day moving average price of $37.81. The company has a market cap of $7.00 billion and a P/E ratio of 14.17. Michael Kors Holdings Limited has a 52 week low of $32.38 and a 52 week high of $52.67.

Michael Kors Holdings Limited (NYSE:KORS) last posted its quarterly earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.18. The business had revenue of $952.40 million for the quarter, compared to analyst estimates of $919.18 million. Michael Kors Holdings Limited had a return on equity of 40.26% and a net margin of 11.91%. Michael Kors Holdings Limited’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the company earned $0.88 EPS. Equities research analysts anticipate that Michael Kors Holdings Limited will post $3.70 EPS for the current fiscal year.

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Michael Kors Holdings Limited announced that its board has approved a share buyback program on Wednesday, May 31st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the lifestyle brand to buy up to 18.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. bought a new stake in shares of Michael Kors Holdings Limited in the 2nd quarter worth $114,000. NINE MASTS CAPITAL Ltd bought a new stake in shares of Michael Kors Holdings Limited in the 1st quarter worth $149,000. Ameritas Investment Partners Inc. bought a new stake in shares of Michael Kors Holdings Limited in the 1st quarter worth $154,000. Sandy Spring Bank increased its holdings in shares of Michael Kors Holdings Limited by 0.9% in the 2nd quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock worth $158,000 after purchasing an additional 40 shares in the last quarter. Finally, TrimTabs Asset Management LLC increased its holdings in shares of Michael Kors Holdings Limited by 105.1% in the 2nd quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock worth $164,000 after purchasing an additional 2,325 shares in the last quarter. 83.39% of the stock is owned by institutional investors and hedge funds.

About Michael Kors Holdings Limited

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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