Michael Kors Holdings Limited (NYSE:KORS) Given a $35.00 Price Target at BMO Capital Markets

BMO Capital Markets set a $35.00 price objective on Michael Kors Holdings Limited (NYSE:KORS) in a research report released on Tuesday morning. The firm currently has a hold rating on the lifestyle brand’s stock.

A number of other equities analysts have also recently issued reports on the stock. Deutsche Bank AG cut their target price on shares of Michael Kors Holdings Limited from $50.00 to $47.00 and set a buy rating for the company in a research report on Tuesday, April 25th. Jefferies Group LLC set a $65.00 target price on shares of Michael Kors Holdings Limited and gave the stock a buy rating in a research report on Monday, April 10th. Morgan Stanley restated an equal weight rating and set a $36.00 target price (down previously from $43.00) on shares of Michael Kors Holdings Limited in a research report on Thursday, June 1st. Canaccord Genuity set a $38.00 target price on shares of Michael Kors Holdings Limited and gave the stock a hold rating in a research report on Friday, May 26th. Finally, Piper Jaffray Companies set a $34.00 target price on shares of Michael Kors Holdings Limited and gave the stock a hold rating in a research report on Wednesday, May 31st. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and four have issued a buy rating to the company. Michael Kors Holdings Limited has an average rating of Hold and an average price target of $42.94.

Michael Kors Holdings Limited (NYSE KORS) opened at 44.69 on Tuesday. The firm has a market cap of $6.90 billion, a P/E ratio of 13.71 and a beta of 0.10. Michael Kors Holdings Limited has a 12 month low of $32.38 and a 12 month high of $52.67. The firm has a 50 day moving average of $36.61 and a 200-day moving average of $37.11.

Michael Kors Holdings Limited (NYSE:KORS) last announced its quarterly earnings data on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.18. Michael Kors Holdings Limited had a net margin of 11.91% and a return on equity of 40.26%. The firm had revenue of $952.40 million during the quarter, compared to analysts’ expectations of $919.18 million. During the same quarter last year, the business 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 research analysts forecast that Michael Kors Holdings Limited will post $3.71 earnings per share for the current year.

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

Large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new stake in Michael Kors Holdings Limited during the second quarter valued at about $114,000. NINE MASTS CAPITAL Ltd acquired a new stake in Michael Kors Holdings Limited during the first quarter valued at about $149,000. Ameritas Investment Partners Inc. acquired a new stake in Michael Kors Holdings Limited during the first quarter valued at about $154,000. Sandy Spring Bank increased its stake in Michael Kors Holdings Limited by 23.5% in the first quarter. Sandy Spring Bank now owns 4,310 shares of the lifestyle brand’s stock valued at $164,000 after buying an additional 820 shares in the last quarter. Finally, TrimTabs Asset Management LLC increased its stake in Michael Kors Holdings Limited by 105.1% in the second quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock valued at $164,000 after buying an additional 2,325 shares in the last quarter. Institutional investors own 84.89% 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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