Michael Kors Holdings Limited (KORS) PT Set at $55.00 by Oppenheimer Holdings, Inc.

Michael Kors Holdings Limited (NYSE:KORS) has been assigned a $55.00 price objective by research analysts at Oppenheimer Holdings, Inc. in a research note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the lifestyle brand’s stock. Oppenheimer Holdings, Inc.’s price objective would suggest a potential upside of 17.02% from the company’s previous close.

Several other research firms also recently commented on KORS. Robert W. Baird set a $46.00 price objective on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research note on Sunday, October 1st. Buckingham Research set a $52.00 price objective on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research note on Friday, October 6th. Zacks Investment Research raised Michael Kors Holdings Limited from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research note on Tuesday. Barclays PLC assumed coverage on Michael Kors Holdings Limited in a research note on Tuesday, September 19th. They issued an “equal weight” rating and a $44.00 price objective on the stock. Finally, Wells Fargo & Company reaffirmed a “hold” rating and issued a $49.00 price objective on shares of Michael Kors Holdings Limited in a research note on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Michael Kors Holdings Limited currently has a consensus rating of “Hold” and an average price target of $45.35.

Shares of Michael Kors Holdings Limited (NYSE KORS) traded up 0.55% during midday trading on Wednesday, hitting $47.26. The stock had a trading volume of 1,276,430 shares. Michael Kors Holdings Limited has a 12 month low of $32.38 and a 12 month high of $52.67. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 14.50 and a beta of 0.03. The stock’s 50 day moving average price is $44.89 and its 200 day moving average price is $38.98.

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

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Institutional investors have recently made changes to their positions in the company. Schroder Investment Management Group boosted its holdings in shares of Michael Kors Holdings Limited by 17.4% in the 2nd quarter. Schroder Investment Management Group now owns 2,410,156 shares of the lifestyle brand’s stock worth $86,042,000 after purchasing an additional 357,661 shares during the period. Soros Fund Management LLC purchased a new position in shares of Michael Kors Holdings Limited in the 1st quarter worth approximately $389,000. Legal & General Group Plc boosted its holdings in shares of Michael Kors Holdings Limited by 5.1% in the 2nd quarter. Legal & General Group Plc now owns 818,344 shares of the lifestyle brand’s stock worth $29,663,000 after purchasing an additional 39,949 shares during the period. Systematic Financial Management LP boosted its holdings in shares of Michael Kors Holdings Limited by 9,030.5% in the 2nd quarter. Systematic Financial Management LP now owns 251,090 shares of the lifestyle brand’s stock worth $9,102,000 after purchasing an additional 248,340 shares during the period. Finally, ARGA Investment Management LP boosted its holdings in shares of Michael Kors Holdings Limited by 6.1% in the 2nd quarter. ARGA Investment Management LP now owns 1,410,252 shares of the lifestyle brand’s stock worth $51,121,000 after purchasing an additional 81,000 shares during the period. Hedge funds and other institutional investors own 83.39% of the company’s stock.

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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