Kate Spade & Co (KATE) is Initiated by CLSA to Outperform, Price Target at $21

Kate Spade & Co (KATE) was Initiated by CLSA to “Outperform” and the brokerage firm has set the Price Target at $21. CLSA advised their investors in a research report released on Sep 29, 2016.

Many Wall Street Analysts have commented on Kate Spade & Co. Kate Spade & Co was Upgraded by Wells Fargo to ” Outperform” on Sep 13, 2016. Shares were Reiterated by Wedbush on Aug 4, 2016 to “Outperform” and Lowered the Price Target to $ 22 from a previous price target of $30 .Shares were Reiterated by Telsey Advisory Group on Aug 4, 2016 to “Outperform” and Lowered the Price Target to $ 23 from a previous price target of $30 .

On the company’s financial health, Kate Spade & Co reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.14. The company had revenue of $320.00 million for the quarter, compared to analysts expectations of $318.20 million. The company’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.

Kate Spade & Co opened for trading at $17.6 and hit $18.07 on the upside on Tuesday, eventually ending the session at $18.07, with a gain of 2.90% or 0.51 points. The heightened volatility saw the trading volume jump to 18,30,181 shares. Company has a market cap of $2,313 M.

In a different news, on May 13, 2015, Doreen A Toben (director) sold 594 shares at $29.04 per share price.

Kate Spade & Company is engaged in the design and marketing of a range of accessories and apparel. The Company operates through three segments: KATE SPADE North America KATE SPADE International and Adelington Design Group. KATE SPADE North America segment consists of the Company’s kate spade new york KATE SPADE SATURDAY and JACK SPADE brands in North America. KATE SPADE International segment consists of the Company’s kate spade new york KATE SPADE SATURDAY and JACK SPADE brands in International markets. Adelington Design Group segment consists of exclusive arrangements to supply jewelry for the LIZ CLAIBORNE and MONET brands; the wholesale apparel and wholesale non-apparel operations of the licensed LIZWEAR brand and other brands and the licensed LIZ CLAIBORNE NEW YORK brand. The Company operates specialty retail stores outlet stores and concession stores.

Kate Spade & Co

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