Guggenheim Securities Initiates Coverage on Michael Kors Holdings Ltd to Neutral

Guggenheim Securities Initiates Coverage on Michael Kors Holdings Ltd(NYSE:KORS). The shares have been rated Neutral. The rating by Guggenheim Securities was issued on Sep 30, 2016.

In a different note, CLSA said it Initiates Coverage on Michael Kors Holdings Ltd, according to a research note issued on Sep 28, 2016. The shares have been rated ‘Sell’ by the firm. On Aug 11, 2016, Goldman Sachs said it Maintains its rating on Michael Kors Holdings Ltd. In the research note, the firm Raises the price-target to $50.00 per share. The shares have been rated ‘Neutral’ by the firm. On Aug 11, 2016, JP Morgan said it Maintains its rating on Michael Kors Holdings Ltd. In the research note, the firm Raises the price-target to $47.00 per share. The shares have been rated ‘Neutral’ by the firm.

Michael Kors Holdings Ltd (KORS) made into the market gainers list on Tuesdays trading session with the shares advancing 1.96% or 0.91 points. Due to strong positive momentum, the stock ended at $47.35, which is also near the day’s high of $47.5. The stock began the session at $46.6 and the volume stood at 24,67,602 shares. The 52-week high of the shares is $59.49 and the 52 week low is $34.83. The company has a current market capitalization of $8,003 M and it has 16,90,11,250 shares in outstanding.

Michael Kors Holdings Ltd(KORS) last announced its earnings results on Aug 10, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $987.90M. Analysts had an estimated revenue of $953.07M. Earnings per share were $0.88. Analysts had estimated an EPS of $0.74.

Several Insider Transactions has been reported to the SEC. On Sep 6, 2016, Lee S. Sporn (SVP Bus Affairs, GC) sold 26,341 shares at $50.02 per share price.Also, On Jun 17, 2016, Cathy Marie Robinson (SVP, Corp Str & Ch Ops Off) sold 759 shares at $49.89 per share price.On Jun 10, 2016, Jean Tomlin (director) sold 2,975 shares at $50.65 per share price, according to the Form-4 filing with the securities and exchange commission.

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 women’s 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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