Michael Kors Gets a Hold Rating from Barclays

By Jason Carr

Barclays analyst Chethan Mallela maintained a Hold rating on Michael Kors (NYSE: KORS) today and set a price target of $69. The company’s shares opened today at $67.74, close to its 52-week high of $68.31.

According to TipRanks.com, Mallela is a 2-star analyst with an average return of 1.6% and a 60.0% success rate. Mallela covers the Services sector, focusing on stocks such as Ralph Lauren Corp, Tapestry Inc, and L Brands.

Currently, the analyst consensus on Michael Kors is Moderate Buy and the average price target is $63.79, representing a -5.8% downside.

In a report issued on January 21, Robert W. Baird also reiterated a Hold rating on the stock with a $62 price target.

The company has a one-year high of $68.31 and a one-year low of $32.38. Currently, Michael Kors has an average volume of 2.3M.

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.