Kate Spade & Co (KATE) is Downgraded by Wolfe Research to Peer Perform

Kate Spade & Co (KATE) was Downgraded by Wolfe Research to ” Peer Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wolfe Research advised their investors in a research report released on Nov 23, 2016.

Many Wall Street Analysts have commented on Kate Spade & Co. CLSA Initiated Kate Spade & Co on Sep 29, 2016 to “Outperform”, Price Target of the shares are set at $21.Kate Spade & Co was Upgraded by Wells Fargo to ” Outperform” on Sep 13, 2016.

On the company’s financial health, Kate Spade & Co reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $0.08. The company had revenue of $316.53 million for the quarter, compared to analysts expectations of $310.64 million. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.

Kate Spade & Co closed down -0.58 points or -3.42% at $16.39 with 32,46,445 shares getting traded on Monday. Post opening the session at $16.91, the shares hit an intraday low of $16.345 and an intraday high of $16.9599 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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