Equities research analysts at Canaccord Genuity hoisted their price target on shares of Michael Kors Holdings (NASDAQ:KORS) to $96.00 in a research note issued to investors on Wednesday, StockRatingsNetwork reports. Canaccord Genuity’s price target would suggest a potential upside of 21.32% from the stock’s previous close.
Shares of Michael Kors Holdings (NASDAQ:KORS) traded down 0.33% during mid-day trading on Wednesday, hitting $78.87. The stock had a trading volume of 3,319,395 shares. Michael Kors Holdings has a 1-year low of $46.66 and a 1-year high of $80.00. The stock’s 50-day moving average is $75.34 and its 200-day moving average is $67.27. The company has a market cap of $15.928 billion and a price-to-earnings ratio of 35.36. Michael Kors Holdings also saw unusually large options trading on Monday. Investors acquired 28,731 call options on the stock. This is an increase of approximately 369% compared to the average daily volume of 6,129 call options.
Michael Kors Holdings (NASDAQ:KORS) last announced its earnings results on Tuesday, November 5th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the 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 $2.78 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of Michael Kors Holdings from $85.00 to $91.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, 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. 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 research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Michael Kors Holdings has a consensus rating of “Buy” and an average price target of $82.07.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.