Buckingham Remains a Buy on Michael Kors (KORS)

By Austin Angelo

In a report released today, Kelly Crago from Buckingham maintained a Buy rating on Michael Kors (NYSE: KORS), with a price target of $85. The company’s shares closed yesterday at $71.32, close to its 52-week high of $74.07.

According to TipRanks.com, Crago is a 3-star analyst with an average return of 14.2% and a 92.9% success rate. Crago covers the Services sector, focusing on stocks such as Ollie’s Bargain Outlet Holding, Urban Outfitters, and Five Below Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Michael Kors with a $78.81 average price target, representing a 10.5% upside. In a report issued on August 8, Canaccord Genuity also maintained a Buy rating on the stock with a $90 price target.

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The company has a one-year high of $74.07 and a one-year low of $41.47. Currently, Michael Kors has an average volume of 2.89M.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock.

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Michael Kors Holdings Ltd. engages in the design and distribution of sportswear, accessories, footwear and apparel of branded women’s apparel and accessories and men’s apparel. The firm operates its business through three segments: Retail, Wholesale and Licensing.