It is Time to “Buy” Michael Kors Holdings (NYSE:KORS), Needham Says. Stock May Be Worth $69

December 20, 2017 - By Clifton Ray

 It is Time to

Investors sentiment decreased to 0.7 in Q2 2017. Its down 0.14, from 0.84 in 2017Q1. It fall, as 52 investors sold Michael Kors Holdings Limited shares while 131 reduced holdings. 37 funds opened positions while 92 raised stakes. 123.70 million shares or 2.48% less from 126.85 million shares in 2017Q1 were reported.

Tower Rech Cap Limited Co (Trc) has invested 0% in Michael Kors Holdings Limited (NYSE:KORS). Balyasny Asset Mgmt Lc owns 0% invested in Michael Kors Holdings Limited (NYSE:KORS) for 27,200 shares. Bridgewater Associate L P owns 87,881 shares. Td Asset Management invested in 0.01% or 221,246 shares. Nordea Invest Mngmt owns 358,514 shares. Duncker Streett & invested 0% in Michael Kors Holdings Limited (NYSE:KORS). Quinn Opportunity Ptnrs Limited Liability Corporation invested in 0.12% or 20,000 shares. 3.38 million are held by Bancorp Of New York Mellon Corp. Rampart Management Ltd Limited Liability Company has 2,085 shares for 0.03% of their portfolio. State Of Wisconsin Investment Board reported 140,098 shares or 0.02% of all its holdings. Ameriprise Financial Inc invested in 0% or 41,152 shares. Louisiana State Employees Retirement Sys owns 9,700 shares for 0.02% of their portfolio. Brinker Capital Inc has invested 0.02% in Michael Kors Holdings Limited (NYSE:KORS). Parkwood Ltd Liability Corp has invested 0.07% in Michael Kors Holdings Limited (NYSE:KORS). Nationwide Fund Advsrs has 216,520 shares.

Why Has Needham Given Michael Kors Holdings (NYSE:KORS) a $69 Price Target

Needham has just issued a “Buy” rating for Michael Kors Holdings (NYSE:KORS) shares. The firm has initiated coverage on shares of KORS in a research report issued to investors and clients on Tuesday morning. This price target suggests upside of 8.90 % from the last close price of Michael Kors Holdings (NYSE:KORS).

Investors sentiment decreased to 0.7 in Q2 2017. Its down 0.14, from 0.84 in 2017Q1. It fall, as 52 investors sold Michael Kors Holdings Limited shares while 131 reduced holdings. 37 funds opened positions while 92 raised stakes. 123.70 million shares or 2.48% less from 126.85 million shares in 2017Q1 were reported.

Tower Rech Cap Limited Co (Trc) has invested 0% in Michael Kors Holdings Limited (NYSE:KORS). Balyasny Asset Mgmt Lc owns 0% invested in Michael Kors Holdings Limited (NYSE:KORS) for 27,200 shares. Bridgewater Associate L P owns 87,881 shares. Td Asset Management invested in 0.01% or 221,246 shares. Nordea Invest Mngmt owns 358,514 shares. Duncker Streett & invested 0% in Michael Kors Holdings Limited (NYSE:KORS). Quinn Opportunity Ptnrs Limited Liability Corporation invested in 0.12% or 20,000 shares. 3.38 million are held by Bancorp Of New York Mellon Corp. Rampart Management Ltd Limited Liability Company has 2,085 shares for 0.03% of their portfolio. State Of Wisconsin Investment Board reported 140,098 shares or 0.02% of all its holdings. Ameriprise Financial Inc invested in 0% or 41,152 shares. Louisiana State Employees Retirement Sys owns 9,700 shares for 0.02% of their portfolio. Brinker Capital Inc has invested 0.02% in Michael Kors Holdings Limited (NYSE:KORS). Parkwood Ltd Liability Corp has invested 0.07% in Michael Kors Holdings Limited (NYSE:KORS). Nationwide Fund Advsrs has 216,520 shares.

Michael Kors Holdings Limited (NYSE:KORS) Ratings Coverage

Among 34 analysts covering Michael Kors Holdings Ltd (NYSE:KORS), 10 have Buy rating, 2 Sell and 22 Hold. Therefore 29% are positive. Michael Kors Holdings Ltd has $75.0 highest and $26 lowest target. $50.36’s average target is -20.52% below currents $63.36 stock price. Michael Kors Holdings Ltd had 101 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was maintained by Piper Jaffray with “Hold” on Tuesday, May 30. The stock has “Hold” rating by Oppenheimer on Tuesday, July 25. The company was upgraded on Friday, August 7 by BB&T Capital. Canaccord Genuity upgraded the stock to “Buy” rating in Wednesday, September 27 report. Cowen & Co downgraded the stock to “Market Perform” rating in Monday, October 26 report. M Partners upgraded the stock to “Hold” rating in Tuesday, November 7 report. The firm earned “Buy” rating on Tuesday, August 8 by Jefferies. The stock has “Neutral” rating by Piper Jaffray on Monday, August 3. The rating was maintained by Goldman Sachs on Thursday, August 11 with “Neutral”. JP Morgan maintained the shares of KORS in report on Thursday, August 11 with “Neutral” rating.

The stock increased 0.27% or $0.17 during the last trading session, reaching $63.36. About 1.91M shares traded. Michael Kors Holdings Limited (NYSE:KORS) has declined 10.54% since December 20, 2016 and is downtrending. It has underperformed by 27.24% the S&P500.

Analysts await Michael Kors Holdings Limited (NYSE:KORS) to report earnings on February, 6. They expect $1.26 EPS, down 23.17 % or $0.38 from last year’s $1.64 per share. KORS’s profit will be $191.61 million for 12.57 P/E if the $1.26 EPS becomes a reality. After $1.33 actual EPS reported by Michael Kors Holdings Limited for the previous quarter, Wall Street now forecasts -5.26 % negative EPS growth.

Michael Kors Holdings Limited design, markets, distributes, and retails branded womenÂ’s apparel and accessories, and menÂ’s apparel. The company has market cap of $9.64 billion. The firm operates in three divisions: Retail, Wholesale, and Licensing. It has a 17.61 P/E ratio. The Retail segment is involved in the sale of womenÂ’s apparel; men's apparel; accessories, which include handbags and small leather goods, such as wallets; footwear; and licensed products comprising watches, jewelry, fragrances, beauty products, and eyewear.

More important recent Michael Kors Holdings Limited (NYSE:KORS) news were published by: Businesswire.com which released: “Michael Kors Announces New Chief Brand Officer” on November 21, 2017, also Businesswire.com published article titled: “Michael Kors Holdings Limited Adopts Fur-Free Policy”, Nasdaq.com published: “Michael Kors (KORS) Looks Promising: Invest in the Stock” on December 13, 2017. More interesting news about Michael Kors Holdings Limited (NYSE:KORS) was released by: Fool.com and their article: “3 Reasons for Michael Kors Holdings Investors to Be Cautiously Optimistic” with publication date: November 22, 2017.

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