Michael Kors Holdings Limited (KORS) : Analyst Rating Update

Michael Kors Holdings Limited (KORS) : The consensus on Michael Kors Holdings Limited (KORS) based on 16 analyst recommendation on the company stock is 2.44, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 4 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 11 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Michael Kors Holdings Limited (KORS) : The highest level Michael Kors Holdings Limited (KORS) is projected to reach is $75 for the short term and the lowest estimate is at $42. The consolidated price target from 16 rating analysts who initiate coverage on the stock is $54.63 and the possibility the share price can swing is $9.44.

Michael Kors Holdings Limited (NYSE:KORS): The stock opened at $49.00 on Wednesday but the bulls could not build on the opening and the stock topped out at $49.02 for the day. The stock traded down to $48.00 during the day, due to lack of any buying support eventually closed down at $48.54 with a loss of -1.26% for the day. The stock had closed at $49.16 on the previous day. The total traded volume was 4,745,701 shares.

Also, Brokerage firm Piper Jaffray upgrades its rating on Michael Kors Holdings Limited (NYSE:KORS). The shares have been rated Overweight. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on April 27, 2016. The company shares have rallied 17.95% from its 1 Year high price. On Mar 14, 2016, the shares registered one year high at $59.49 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $46.99 and the 200 Day Moving Average price is recorded at $48.75.

Michael Kors Holdings Limited is a global accessories, footwear and apparel company. The Company operates its business in three segments: retail, wholesale and licensing. It offers two primary collections: the Michael Kors luxury collection and the MICHAEL Michael Kors accessible luxury collection. In the Michael Kors collection, it offers accessories, including handbags and small leather goods, many of which are made from leathers and other exotic skins, footwear and apparel, including ready-to-wear women swear and menswear. Its MICHAEL Michael Kors collection offers accessories, primarily handbags and small leather goods, such as clutches, wallets, wristlets and cosmetic cases; footwear, primarily in womens styles; and women swear, including dresses, tops, jeans, pants, skirts, shorts and outerwear. Through its licensing segment, it enters into agreements that license to third parties use of its brand name and trademarks, certain production, and sales and distribution rights.

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