TheStreet downgraded shares of Michael Kors (NYSE:KORS) from a b- rating to a c+ rating in a research note issued to investors on Thursday morning.

KORS has been the topic of a number of other research reports. Canaccord Genuity set a $90.00 target price on Michael Kors and gave the company a buy rating in a report on Wednesday, September 26th. Deutsche Bank lowered their target price on Michael Kors from $84.00 to $83.00 and set a buy rating on the stock in a report on Thursday, November 1st. Piper Jaffray Companies raised Michael Kors from a neutral rating to an overweight rating and set a $71.00 target price on the stock in a report on Friday, November 2nd. Sanford C. Bernstein raised Michael Kors from an underperform rating to a market perform rating in a report on Monday, November 12th. They noted that the move was a valuation call. Finally, CIBC reaffirmed a market perform rating on shares of Michael Kors in a report on Friday, November 16th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and fourteen have issued a buy rating to the stock. Michael Kors has an average rating of Hold and a consensus price target of $73.04.

KORS traded down $2.44 during midday trading on Thursday, reaching $40.48. The company’s stock had a trading volume of 3,599,185 shares, compared to its average volume of 3,080,336. The firm has a market capitalization of $6.45 billion, a P/E ratio of 8.96, a price-to-earnings-growth ratio of 1.38 and a beta of 0.32. The company has a quick ratio of 0.71, a current ratio of 1.48 and a debt-to-equity ratio of 0.23. Michael Kors has a twelve month low of $40.40 and a twelve month high of $75.96.

Michael Kors (NYSE:KORS) last released its earnings results on Wednesday, November 7th. The lifestyle brand reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.18. The firm 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%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.33 EPS. As a group, analysts anticipate that Michael Kors will post 5.02 earnings per share for the current year.

In related news, SVP Krista A. Mcdonough sold 3,000 shares of the business’s stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $42.62, for a total value of $127,860.00. Following the sale, the senior vice president now owns 2,423 shares of the company’s stock, valued at approximately $103,268.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John D. Idol sold 6,676 shares of the business’s stock in a transaction on Wednesday, October 10th. The shares were 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. Insiders have sold a total of 519,516 shares of company stock worth $36,945,527 in the last three months. 6.00% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in KORS. Signet Financial Management LLC acquired a new stake in Michael Kors in the 2nd quarter valued at $140,000. First Mercantile Trust Co. raised its position in Michael Kors by 114.3% in the 3rd quarter. First Mercantile Trust Co. now owns 2,400 shares of the lifestyle brand’s stock valued at $164,000 after purchasing an additional 1,280 shares during the last quarter. Cerebellum GP LLC bought a new position in Michael Kors in the 3rd quarter valued at $169,000. Dynamic Technology Lab Private Ltd bought a new position in Michael Kors in the 2nd quarter valued at $200,000. Finally, Financial Gravity Wealth Inc. bought a new position in Michael Kors in the 3rd quarter valued at $203,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

About Michael Kors

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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