Oppenheimer Holdings, Inc. set a $55.00 price objective on Michael Kors Holdings Limited (NYSE:KORS) in a research report report published on Wednesday morning. The brokerage currently has a buy rating on the lifestyle brand’s stock.

Several other research firms also recently weighed in on KORS. ValuEngine downgraded shares of Michael Kors Holdings Limited from a buy rating to a hold rating in a report on Friday, September 1st. Jefferies Group LLC set a $60.00 target price on shares of Michael Kors Holdings Limited and gave the company a buy rating in a report on Tuesday, July 4th. Deutsche Bank AG restated a hold rating and set a $36.00 target price on shares of Michael Kors Holdings Limited in a report on Friday, June 16th. Barclays PLC started coverage on shares of Michael Kors Holdings Limited in a report on Tuesday, September 19th. They set an equal weight rating and a $44.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Michael Kors Holdings Limited from a hold rating to a buy rating and set a $53.00 target price for the company in a report on Tuesday, October 10th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $45.35.

Shares of Michael Kors Holdings Limited (NYSE KORS) opened at 47.77 on Wednesday. Michael Kors Holdings Limited has a 1-year low of $32.38 and a 1-year high of $52.67. The stock has a market cap of $7.24 billion, a PE ratio of 14.65 and a beta of 0.03. The stock’s 50 day moving average is $45.32 and its 200-day moving average is $39.12.

Michael Kors Holdings Limited (NYSE:KORS) last announced its quarterly earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.18. The business had revenue of $952.40 million during the quarter, compared to the consensus estimate of $919.18 million. Michael Kors Holdings Limited had a net margin of 11.91% and a return on equity of 40.26%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 EPS. On average, analysts predict that Michael Kors Holdings Limited will post $3.71 EPS for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in the business. Sandy Spring Bank lifted its position in Michael Kors Holdings Limited by 0.9% during the second quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock valued at $158,000 after buying an additional 40 shares in the last quarter. First Heartland Consultants Inc. lifted its position in Michael Kors Holdings Limited by 1.9% during the second quarter. First Heartland Consultants Inc. now owns 6,829 shares of the lifestyle brand’s stock valued at $248,000 after buying an additional 129 shares in the last quarter. Thrivent Financial For Lutherans lifted its position in Michael Kors Holdings Limited by 5.8% during the first quarter. Thrivent Financial For Lutherans now owns 6,000 shares of the lifestyle brand’s stock valued at $229,000 after buying an additional 330 shares in the last quarter. First Allied Advisory Services Inc. lifted its position in Michael Kors Holdings Limited by 5.3% during the second quarter. First Allied Advisory Services Inc. now owns 6,752 shares of the lifestyle brand’s stock valued at $251,000 after buying an additional 337 shares in the last quarter. Finally, Financial Advisors Network Inc. lifted its position in Michael Kors Holdings Limited by 5.1% during the second quarter. Financial Advisors Network Inc. now owns 7,854 shares of the lifestyle brand’s stock valued at $285,000 after buying an additional 379 shares in the last quarter. 83.39% of the stock is currently owned by hedge funds and other institutional investors.

Michael Kors Holdings Limited 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 Holdings Limited (NYSE:KORS)

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