Michael Kors Holdings (NASDAQ:KORS) had its price objective raised by Deutsche Bank from $85.00 to $91.00 in a research report released on Wednesday morning, AnalystRatingsNetwork reports. Deutsche Bank currently has a buy rating on the stock.
Michael Kors Holdings (NASDAQ:KORS) traded up 1.91% during mid-day trading on Wednesday, hitting $79.40. 3,860,878 shares of the company’s stock traded hands. Michael Kors Holdings has a 1-year low of $46.66 and a 1-year high of $80.43. The stock’s 50-day moving average is $75.52 and its 200-day moving average is $67.43. The company has a market cap of $16.035 billion and a P/E ratio of 34.81.
Michael Kors Holdings (NASDAQ:KORS) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.71 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.67 by $0.04. The company had revenue of $740.30 million for the quarter, compared to the consensus estimate of $722.20 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. Analysts expect that Michael Kors Holdings will post $2.82 EPS for the current fiscal year.
KORS has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. reiterated a buy rating on shares of Michael Kors Holdings in a research note to investors on Tuesday. They now have a $82.00 price target on the stock. Separately, analysts at Canaccord Genuity reiterated a buy rating on shares of Michael Kors Holdings in a research note to investors on Monday. They now have a $90.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a hold rating on shares of Michael Kors Holdings in a research note to investors on Monday. They now have a $80.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Michael Kors Holdings currently has an average rating of Buy and a consensus price target of $82.28.
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 name and MICHAEL KORS, MICHAEL MICHAEL KORS, KORS MICHAEL KORS and various other related logos.
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