Michael Kors Holdings Limited (KORS) has been under a strong bear grip, hence the stock is down -3.02% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.68% in the past 1 week. The stock has risen by 2.64% in the past week indicating that the buyers are active at lower levels, but the stock is down -2.64% in the past 4 weeks.
Michael Kors Holdings Limited is up 20.53% in the last 3-month period. Year-to-Date the stock performance stands at 25.01%. The stock has recorded a 20-day Moving Average of 0.7% and the 50-Day Moving Average is 0.23%.
Michael Kors Holdings Limited (NYSE:KORS): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $49.21 and $48.98 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $50.32. The buying momentum continued till the end and the stock did not give up its gains. It closed at $50.08, notching a gain of 1.56% for the day. The total traded volume was 2,514,431 . The stock had closed at $49.31 on the previous day.
Also, In the latest statement by the brokerage house, Goldman Sachs maintains its outlook on Michael Kors Holdings Limited (NYSE:KORS). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm raises the price target from $50 per share to $52 per share. The rating by the firm was issued on August 11, 2016.
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.