MKM Partners upgraded shares of Michael Kors Holdings Limited (NYSE:KORS) from a sell rating to a neutral rating in a report issued on Tuesday morning, MarketBeat.com reports. They currently have $26.00 price objective on the lifestyle brand’s stock.

Several other analysts have also issued reports on the stock. Bank of America Corporation restated a neutral rating and issued a $58.00 price objective on shares of Michael Kors Holdings Limited in a report on Tuesday. BMO Capital Markets restated a hold rating and issued a $55.00 price objective on shares of Michael Kors Holdings Limited in a report on Tuesday. Telsey Advisory Group boosted their price objective on shares of Michael Kors Holdings Limited from $49.00 to $58.00 and gave the company a market perform rating in a report on Tuesday. Piper Jaffray Companies restated a hold rating and issued a $57.00 price objective on shares of Michael Kors Holdings Limited in a report on Monday, November 6th. Finally, Canaccord Genuity restated a buy rating and issued a $67.00 price objective (up from $58.00) on shares of Michael Kors Holdings Limited in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, twenty have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $49.63.

Michael Kors Holdings Limited (NYSE:KORS) opened at $54.71 on Tuesday. Michael Kors Holdings Limited has a fifty-two week low of $32.38 and a fifty-two week high of $55.25. The company has a market capitalization of $8,292.20, a price-to-earnings ratio of 12.12, a PEG ratio of 1.84 and a beta of 0.05.

Michael Kors Holdings Limited (NYSE:KORS) last issued its quarterly earnings data on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.50. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.05 billion. Michael Kors Holdings Limited had a net margin of 12.68% and a return on equity of 42.09%. Michael Kors Holdings Limited’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 EPS. analysts expect that Michael Kors Holdings Limited will post 3.95 earnings per share for the current year.

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In related news, CEO John D. Idol sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $55.12, for a total value of $27,560.00. Following the completion of the transaction, the chief executive officer now directly owns 1,688,046 shares of the company’s stock, valued at $93,045,095.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sandy Spring Bank boosted its holdings in Michael Kors Holdings Limited by 0.9% in the second quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock valued at $158,000 after purchasing an additional 40 shares in the last quarter. First Heartland Consultants Inc. boosted its holdings in Michael Kors Holdings Limited by 1.9% in the second quarter. First Heartland Consultants Inc. now owns 6,829 shares of the lifestyle brand’s stock valued at $248,000 after purchasing an additional 129 shares in the last quarter. Thrivent Financial For Lutherans boosted its holdings in Michael Kors Holdings Limited by 5.8% in the first quarter. Thrivent Financial For Lutherans now owns 6,000 shares of the lifestyle brand’s stock valued at $229,000 after purchasing an additional 330 shares in the last quarter. First Allied Advisory Services Inc. lifted its stake in Michael Kors Holdings Limited by 5.3% in 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 during the last quarter. Finally, Financial Advisors Network Inc. lifted its stake in Michael Kors Holdings Limited by 5.1% in 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 during the last quarter. 84.25% of the stock is 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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