Todays Report: Today, Kate Spade & Co. (KATE) Lowered by Cowen and Company

Today, Kate Spade & Co. (KATE) Lowered by Cowen and Company

Cowen and Company downgraded shares of Kate Spade & Co. (NYSE:KATE) from an outperform rating to a market perform rating in a report issued on Tuesday morning. They currently have $16.00 target price on the stock.

A number of other equities analysts have also recently weighed in on the company. Vetr cut Kate Spade & Co. from a strong-buy rating to a buy rating and set a $20.75 price objective on the stock. in a report on Tuesday, September 13th. Citigroup Inc. decreased their price objective on Kate Spade & Co. from $33.00 to $23.00 and set a buy rating on the stock in a report on Thursday, August 4th. Mizuho decreased their price objective on Kate Spade & Co. from $30.00 to $22.00 and set a buy rating on the stock in a report on Thursday, August 4th. Wunderlich decreased their price objective on Kate Spade & Co. from $39.00 to $20.00 and set a buy rating on the stock in a report on Wednesday, August 3rd. Finally, Zacks Investment Research raised Kate Spade & Co. from a hold rating to a buy rating and set a $18.00 price objective on the stock in a report on Thursday, October 27th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $22.72.

Kate Spade & Co. (NYSE:KATE) opened at 16.35 on Tuesday. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 16.40 and a beta of 1.67. Kate Spade & Co. has a 52 week low of $14.26 and a 52 week high of $26.46. The firm has a 50-day moving average price of $16.90 and a 200 day moving average price of $19.27.

Kate Spade & Co. (NYSE:KATE) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.05. Kate Spade & Co. had a return on equity of 27.34% and a net margin of 9.67%. The firm had revenue of $317 million for the quarter, compared to analysts’ expectations of $310.64 million. During the same quarter last year, the firm posted $0.06 EPS. The company’s revenue was up 14.1% compared to the same quarter last year. On average, equities research analysts forecast that Kate Spade & Co. will post $0.65 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in KATE. D.A. Davidson & CO. boosted its position in shares of Kate Spade & Co. by 1.9% in the third quarter. D.A. Davidson & CO. now owns 6,631 shares of the company’s stock worth $112,000 after buying an additional 123 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of Kate Spade & Co. during the third quarter worth about $285,000. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Kate Spade & Co. by 54.0% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 197,213 shares of the company’s stock worth $3,377,000 after buying an additional 69,113 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Kate Spade & Co. by 93.0% in the third quarter. Ameritas Investment Partners Inc. now owns 39,048 shares of the company’s stock worth $669,000 after buying an additional 18,812 shares during the last quarter. Finally, Verition Fund Management LLC boosted its position in shares of Kate Spade & Co. by 50.5% in the third quarter. Verition Fund Management LLC now owns 21,503 shares of the company’s stock worth $368,000 after buying an additional 7,215 shares during the last quarter. Institutional investors and hedge funds own 99.45% of the company’s stock.

Kate Spade & Co. Company Profile

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