Kate Spade & Company (KATE) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Kate Spade & Company (NYSE:KATE) from a sell rating to a hold rating in a report issued on Saturday.

Several other analysts have also recently weighed in on KATE. Mizuho increased their price target on shares of Kate Spade & Company from $21.00 to $25.00 and gave the company a buy rating in a research note on Friday, February 17th. Goldman Sachs Group, Inc. (The) increased their price objective on shares of Kate Spade & Company from $15.00 to $20.00 and gave the stock a neutral rating in a research report on Friday, February 17th. CLSA cut shares of Kate Spade & Company from an outperform rating to an underperform rating in a research report on Friday, February 17th. William Blair reaffirmed a buy rating on shares of Kate Spade & Company in a research report on Friday, February 17th. Finally, Zacks Investment Research raised shares of Kate Spade & Company from a sell rating to a hold rating and set a $25.00 price objective for the company in a research report on Friday, February 17th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $20.87.

Analyst Recommendations for Kate Spade & Company (NYSE:KATE)

Kate Spade & Company (NYSE KATE) traded up 0.22% on Friday, reaching $18.51. The company had a trading volume of 3,380,643 shares. The firm has a market capitalization of $2.38 billion, a P/E ratio of 16.66 and a beta of 1.64. Kate Spade & Company has a 1-year low of $14.02 and a 1-year high of $24.24. The company’s 50-day moving average price is $18.18 and its 200 day moving average price is $19.06.

Kate Spade & Company (NYSE:KATE) last posted its quarterly earnings results on Tuesday, April 18th. The textile maker reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by $0.06. Kate Spade & Company had a net margin of 10.40% and a return on equity of 22.47%. The firm had revenue of $271 million during the quarter, compared to analysts’ expectations of $299.08 million. During the same period last year, the company earned $0.05 EPS. The business’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts forecast that Kate Spade & Company will post $0.78 EPS for the current year.

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Several hedge funds have recently modified their holdings of KATE. Utah Retirement Systems increased its stake in shares of Kate Spade & Company by 0.4% in the first quarter. Utah Retirement Systems now owns 23,300 shares of the textile maker’s stock valued at $541,000 after buying an additional 100 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of Kate Spade & Company by 2.1% in the first quarter. Capstone Asset Management Co. now owns 22,725 shares of the textile maker’s stock valued at $528,000 after buying an additional 470 shares during the last quarter. Advantus Capital Management Inc increased its stake in shares of Kate Spade & Company by 3.2% in the first quarter. Advantus Capital Management Inc now owns 16,426 shares of the textile maker’s stock valued at $382,000 after buying an additional 502 shares during the last quarter. Profund Advisors LLC increased its stake in shares of Kate Spade & Company by 3.4% in the first quarter. Profund Advisors LLC now owns 17,669 shares of the textile maker’s stock valued at $410,000 after buying an additional 589 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Kate Spade & Company by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 45,046 shares of the textile maker’s stock valued at $1,046,000 after buying an additional 600 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Kate Spade & Company Company Profile

Kate Spade & Company is engaged in the design and marketing of a range of accessories and apparel. It operates through three segments. The KATE SPADE North America segment consists of the Company’s kate spade new york and JACK SPADE brands in North America. The KATE SPADE International segment consists of the Company’s kate spade new york and JACK SPADE brands in international markets, which operates principally in Japan, Asia (excluding Japan), Europe and Latin America).

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