Analyst Rating Update on Michael Kors Holdings Limited (KORS)

Michael Kors Holdings Limited (NYSE:KORS) : 4 brokerage houses believe that Michael Kors Holdings Limited (NYSE:KORS) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 11 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Michael Kors Holdings Limited (NYSE:KORS). Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 16 Wall Street Analysts endorse the stock as a Buy with a rating of 2.44.

Michael Kors Holdings Limited (NYSE:KORS) : 16 Wall Street analysts covering Michael Kors Holdings Limited (NYSE:KORS) believe that the average level the stock could reach for the short term is $54.63. The maximum price target given is $75 and the minimum target for short term is around $42, hence the standard deviation is calculated at $9.44.

Company shares have received an average consensus rating of Hold for the current week Also, Major Brokerage house, Piper Jaffray upgrades its ratings on Michael Kors Holdings Limited (NYSE:KORS). According to the latest information available, the shares are now rated Overweight by the analysts at the agency. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on April 27, 2016.

Michael Kors Holdings Limited (NYSE:KORS): stock turned positive on Tuesday. Though the stock opened at $46.8, the bulls momentum made the stock top out at $47.57 level for the day. The stock recorded a low of $46.77 and closed the trading day at $47.44, in the green by 2.71%. The total traded volume for the day was 2,575,185. The stock had closed at $46.19 in the previous days trading.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (SVP, Corp Str & Ch Ops Off) of Michael Kors Holdings Ltd, Robinson Cathy Marie had sold 759 shares worth of $37,867 in a transaction dated June 17, 2016. In this transaction, 759 shares were sold at $49.89 per share.

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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