Michael Kors (KORS) Given a $71.00 Price Target by Royal Bank of Canada Analysts

Michael Kors (NYSE:KORS) has been assigned a $71.00 price objective by analysts at Royal Bank of Canada in a report issued on Thursday. The firm currently has a “hold” rating on the lifestyle brand’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 18.73% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird reiterated a “hold” rating on shares of Michael Kors in a research note on Monday, February 5th. Bank of America reiterated a “neutral” rating and set a $58.00 price objective on shares of Michael Kors in a research note on Tuesday, November 7th. Piper Jaffray Companies reiterated a “hold” rating and set a $72.00 price objective on shares of Michael Kors in a research note on Monday, February 5th. Needham & Company LLC boosted their price objective on shares of Michael Kors from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $57.00 price objective (up from $51.00) on shares of Michael Kors in a research note on Thursday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $62.32.

Michael Kors (KORS) traded down $0.23 on Thursday, reaching $59.80. 7,366,088 shares of the company’s stock traded hands, compared to its average volume of 2,303,310. The company has a current ratio of 2.00, a quick ratio of 1.34 and a debt-to-equity ratio of 0.48. Michael Kors has a 12 month low of $32.38 and a 12 month high of $69.95. The stock has a market capitalization of $9,134.61, a P/E ratio of 17.74, a P/E/G ratio of 1.74 and a beta of 0.08.

Michael Kors (NYSE:KORS) last released its quarterly earnings data on Wednesday, February 7th. The lifestyle brand reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.48. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the firm earned $1.64 earnings per share. Michael Kors’s revenue for the quarter was up 6.4% on a year-over-year basis. equities research analysts anticipate that Michael Kors will post 4.49 EPS for the current year.

In related news, SVP Krista A. Mcdonough sold 7,500 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $55.93, for a total value of $419,475.00. Following the sale, the senior vice president now directly owns 10,647 shares of the company’s stock, valued at $595,486.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Pascale Meyran sold 6,835 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $60.01, for a total transaction of $410,168.35. Following the completion of the sale, the senior vice president now directly owns 10,081 shares in the company, valued at $604,960.81. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of KORS. USA Mutuals Advisors Inc. acquired a new stake in Michael Kors in the fourth quarter valued at $100,000. Cerebellum GP LLC acquired a new stake in Michael Kors in the fourth quarter valued at $126,000. Harvest Fund Management Co. Ltd acquired a new stake in Michael Kors in the fourth quarter valued at $190,000. IFP Advisors Inc raised its holdings in Michael Kors by 29.5% in the fourth quarter. IFP Advisors Inc now owns 3,432 shares of the lifestyle brand’s stock valued at $216,000 after acquiring an additional 781 shares in the last quarter. Finally, CAPROCK Group Inc. acquired a new stake in Michael Kors in the fourth quarter valued at $219,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

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About Michael Kors

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 tradename and related trademarks MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos. The Company operates through three segments: retail, wholesale and licensing.

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