Trade Report: Today, Wolfe Research Downgraded Kate Spade & Co. (KATE) to Peer Perform

Today, Wolfe Research Downgraded Kate Spade & Co. (KATE) to Peer Perform

Wolfe Research lowered shares of Kate Spade & Co. (NYSE:KATE) from an outperform rating to a peer perform rating in a research note issued to investors on Wednesday.

KATE has been the topic of a number of other reports. Wells Fargo & Co. reissued an outperform rating and set a $21.50 price target on shares of Kate Spade & Co. in a report on Wednesday, November 16th. started coverage on Kate Spade & Co. in a report on Wednesday, September 28th. They set an outperform rating and a $21.00 price target on the stock. Cowen and Company lowered Kate Spade & Co. from an outperform rating to a market perform rating and set a $16.00 price target on the stock. in a report on Tuesday, November 22nd. Vetr raised Kate Spade & Co. from a buy rating to a strong-buy rating and set a $20.75 price target on the stock in a report on Wednesday, September 21st. Finally, BMO Capital Markets reissued a hold rating on shares of Kate Spade & Co. in a report on Friday, November 4th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $22.72.

Kate Spade & Co. (NYSE:KATE) opened at 15.74 on Wednesday. The company has a 50-day moving average of $16.75 and a 200 day moving average of $19.11. Kate Spade & Co. has a 52 week low of $14.26 and a 52 week high of $26.46. The firm has a market cap of $2.02 billion, a P/E ratio of 15.79 and a beta of 1.67.

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

A number of large investors have recently made changes to their positions in KATE. Mycio Wealth Partners LLC raised its stake in shares of Kate Spade & Co. by 61.4% in the third quarter. Mycio Wealth Partners LLC now owns 6,310 shares of the company’s stock worth $108,000 after buying an additional 2,400 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of Kate Spade & Co. by 3.2% in the third quarter. Riverhead Capital Management LLC now owns 6,300 shares of the company’s stock worth $108,000 after buying an additional 195 shares during the last quarter. D.A. Davidson & CO. raised its stake 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. Advisor Group Inc. raised its stake in shares of Kate Spade & Co. by 5.0% in the third quarter. Advisor Group Inc. now owns 6,885 shares of the company’s stock worth $118,000 after buying an additional 329 shares during the last quarter. Finally, LS Investment Advisors LLC raised its stake in shares of Kate Spade & Co. by 5.6% in the third quarter. LS Investment Advisors LLC now owns 8,314 shares of the company’s stock worth $142,000 after buying an additional 439 shares during the last quarter. Hedge funds and other institutional investors own 99.65% of the company’s stock.

Kate Spade & Co. Company Profile

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