Jefferies Believes Michael Kors (NYSE: KORS) Still Has Room to Grow

By Carrie Williams

In a report released today, Randal Konik from Jefferies reiterated a Buy rating on Michael Kors (NYSE: KORS), with a price target of $90. The company’s shares opened today at $69.59, close to its 52-week high of $69.95.

According to TipRanks.com, Konik is a 4-star analyst with an average return of 4.6% and a 53.4% success rate. Konik covers the Services sector, focusing on stocks such as Lululemon Athletica Inc, Eros International Plc, and Abercrombie Fitch.

Currently, the analyst consensus on Michael Kors is Moderate Buy and the average price target is $74.20, representing a 6.6% upside.

In a report issued on January 23, Oppenheimer also maintained a Buy rating on the stock with a $74 price target.

Michael Kors’ market cap is currently $9.95B and has a P/E ratio of 17.98. The company has a book value ratio of 5.5132.

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. Most recently, in December 2017, Pascale Meyran, the SVP HR of KORS sold 6,835 shares for a total of $410,168.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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 bearing the Michael Kors trade name. The company operates its business through three segments: Retail, Wholesale and Licensing.