Michael Kors (NYSE:KORS) Stock Neutral Rating Reconfirmed at Piper Jaffray; The Target Price is Set to $38.0

Michael Kors (NYSE:KORS) Rating Maintained

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They currently have a $38.0 target price per share on Michael Kors (NYSE:KORS). Piper Jaffray’s target would suggest a potential downside of -9.50% from the company’s close price. This was released in an analyst report on Sunday, 8 March.
NYSE:KORS is currently trading -7.91% lower at $38.67 as of 14:52 New York time. Michael Kors’s stock is down -41.8% over the past 200 days. It has underperformed the S&P500, which has added 12.04% over the same time period.
Out of 23 analysts covering Michael Kors, 9 rate it a Buy, 17 indicate a Hold while 0 suggest a Sell. The highest target is $90 and the lowest is $40 according to Thomson/First Call. The 12-month mean target is $54.35, which means upside potential of 40.55% over the current price.
NYSE:KORS Price Chart & Trend

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The stock price of Michael Kors nosedived 41.8% over the last 200 days, and is in strong down trend. In the last 50 and 100 days, Michael Kors is down 30.54% and down 35.1%, respectively. Our stocks momentum model is shown on the price chart

Institutional Ownership

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Flossbach Von Storch Ag had the largest stake with ownership of 4.94M shares as of Q1 2015 for 7.34% of the equity exposure. Metropolitan Capital Advisors Inc is another quite bullish active investment manager who is possessing 113,130 shares of Michael Kors or 6.48% of their equity exposure. Further, Tpg have 5.34% of their equity exposure invested in the company for 1.16 million shares. The California-based fund Apex Capital Llc disclosed it had purchased so far a stake worth about 4.76% of the active investment manager’s stock portfolio in Michael Kors. The Massachusetts-based fund Brookside Capital Management Llc is also positive about the stock, possessing 1.01 million shares or 3.74% of their equity exposure.
Michael Kors (NYSE:KORS) Profile

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Michael Kors Holdings LTDMichael Kors Holdings Limited is a global luxury lifestyle brand company. The Company operates its business in three segments namely Retail, Wholesale and Licensing. It has global distribution network of company-operated retail stores, department stores, specialty stores and select licensing partners.
Michael Kors (NYSE:KORS) traded down -7.91% on 8 March, hitting $38.67. A total of 5.28 million shares of the company’s stock traded hands. This is up from average of 4.24 million shares. Michael Kors has a 52 week low of $38.39 and a 52 week high of $83.38. The company has a market cap of $8.23 billion and a P/E ratio of 9.04.
Get the latest Michael Kors (NYSE:KORS) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

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