Short Term Price Target on Michael Kors Holdings Limited (KORS)

Michael Kors Holdings Limited (NYSE:KORS) : The highest level Michael Kors Holdings Limited (NYSE:KORS) is projected to reach is $75 for the short term and the lowest estimate is at $42. The consolidated price target from 16 rating analysts who initiate coverage on the stock is $54.63 and the possibility the share price can swing is $9.44.

Michael Kors Holdings Limited has dropped 2.64% in the last five trading days, however, the shares have posted positive gains of 8.63% in the last 4 weeks. Michael Kors Holdings Limited has dropped 13.15% during the last 3-month period . Year-to-Date the stock performance stands at 23.51%.

Michael Kors Holdings Limited (NYSE:KORS) : 4 brokerage houses believe that Michael Kors Holdings Limited (NYSE:KORS) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 11 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Michael Kors Holdings Limited (NYSE:KORS). Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 16 Wall Street Analysts endorse the stock as a Buy with a rating of 2.44.

Michael Kors Holdings Limited (NYSE:KORS): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $48.47 and $48.02 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $49.48. The buying momentum continued till the end and the stock did not give up its gains. It closed at $49.48, notching a gain of 2.19% for the day. The total traded volume was 2,675,062 . The stock had closed at $48.42 on the previous day.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (SVP, Corp Str & Ch Ops Off) of Michael Kors Holdings Ltd, Robinson Cathy Marie had sold 759 shares worth of $37,867 in a transaction dated June 17, 2016. In this transaction, 759 shares were sold at $49.89 per share.

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.

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