Kate Spade & Company (KATE) Stock Rating Lowered by Telsey Advisory Group

Kate Spade & Company (KATE) Stock Rating Lowered by Telsey Advisory Group

Kate Spade & Company (NYSE:KATE) was downgraded by research analysts at Telsey Advisory Group from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday. They currently have a $21.00 price objective on the stock, down from their previous price objective of $23.00. Telsey Advisory Group’s price objective suggests a potential upside of 12.48% from the company’s previous close. The analysts noted that the move was a valuation call.

Other analysts have also recently issued research reports about the stock. Cowen and Company reaffirmed a “market perform” rating and issued a $20.00 target price (up previously from $16.00) on shares of Kate Spade & Company in a report on Friday, January 13th. Wolfe Research cut shares of Kate Spade & Company from an “outperform” rating to a “peer perform” rating in a report on Wednesday, November 23rd. SunTrust Banks, Inc. raised their target price on shares of Kate Spade & Company from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, December 30th. Mizuho reaffirmed a “buy” rating and issued a $21.00 target price on shares of Kate Spade & Company in a report on Wednesday, December 28th. Finally, Zacks Investment Research raised shares of Kate Spade & Company from a “sell” rating to a “hold” rating in a report on Thursday, October 20th. Ten analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Kate Spade & Company has a consensus rating of “Buy” and an average target price of $22.63.

Shares of Kate Spade & Company (NYSE:KATE) traded down 2.04% during mid-day trading on Wednesday, reaching $18.29. 246,141 shares of the company’s stock traded hands. Kate Spade & Company has a one year low of $14.02 and a one year high of $26.46. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 18.35 and a beta of 1.63. The firm’s 50-day moving average is $16.95 and its 200 day moving average is $17.83.

Kate Spade & Company (NYSE:KATE) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.05. The business had revenue of $317 million for the quarter, compared to analysts’ expectations of $310.64 million. Kate Spade & Company had a net margin of 9.67% and a return on equity of 27.34%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 earnings per share. Analysts predict that Kate Spade & Company will post $0.65 earnings per share for the current year.

In related news, insider Deborah J. Lloyd sold 29,011 shares of Kate Spade & Company stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $14.63, for a total transaction of $424,430.93. Following the completion of the sale, the insider now owns 46,544 shares in the company, valued at approximately $680,938.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.82% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Mycio Wealth Partners LLC boosted its stake in Kate Spade & Company by 61.4% in the third quarter. Mycio Wealth Partners LLC now owns 6,310 shares of the company’s stock valued at $108,000 after buying an additional 2,400 shares during the period. Riverhead Capital Management LLC boosted its stake in Kate Spade & Company by 3.2% in the third quarter. Riverhead Capital Management LLC now owns 6,300 shares of the company’s stock valued at $108,000 after buying an additional 195 shares during the period. D.A. Davidson & CO. boosted its stake in Kate Spade & Company by 1.9% in the third quarter. D.A. Davidson & CO. now owns 6,631 shares of the company’s stock valued at $112,000 after buying an additional 123 shares during the period. Advisor Group Inc. boosted its stake in Kate Spade & Company by 5.0% in the third quarter. Advisor Group Inc. now owns 6,885 shares of the company’s stock valued at $118,000 after buying an additional 329 shares during the period. Finally, LS Investment Advisors LLC boosted its stake in Kate Spade & Company by 5.6% in the third quarter. LS Investment Advisors LLC now owns 8,314 shares of the company’s stock valued at $142,000 after buying an additional 439 shares during the period. Institutional investors own 99.64% of the company’s stock.

Kate Spade & Company Company Profile

Kate Spade & Company is engaged in the design and marketing of a range of accessories and apparel. The Company operates through three segments, which include KATE SPADE North America, KATE SPADE International and Adelington Design Group. The KATE SPADE North America segment consists of the Company’s kate spade new york and JACK SPADE brands in North America.

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