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Retail

A Call For Kors to Go Even Higher

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By Jon C. Ogg Updated Published
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Michael Kors Holdings Ltd. (NYSE: KORS) has been on a tear since coming public. The luxury apparel and accessories designer and retailer continually leads the same-store sales results from retail chains each month with massive gains, and its stock has been an amazing performer as it is now up more than 150% from its $20 IPO price from last December to around $52.00 now.

We also are seeing one call this morning with the expectation that shares will go even higher as its chart is on an uptrend.

Zacks Investment Research has a Zacks #1 Rating (Strong Buy) after a 70% earnings surprise on a 71% sales gain. The report noted, “This well-known global luxury brand is riding on the success of its multi-channel strategy, unique design and strong infrastructure.” Even with a forward P/E ratio of almost 37, Zacks says that the valuation premium is “justified and well supported by its long-term estimated EPS growth rate of 32.1%” as its return on equity of 33.0% (against 20.6% for peers) suggests that it actively and efficiently reinvests its earnings compared to its peer group.

Kors shares closed at $52.09 on Friday and the post-IPO range is 23.51 to $52.75. Keep in mind that the market capitalization is now $10 billion.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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