Citigroup Downgrades Kate Spade & Co to Neutral

Brokerage firm Citigroup Downgrades its rating on Kate Spade & Co(KATE). The shares have been rated Neutral. The rating by the stock financial advisor at Citigroup was issued on Mar 22, 2017 in a research report to their Investors and Clients.

In a different note, On Jan 25, 2017, Telsey Advisory Group said it Downgrades its rating on Kate Spade & Co. According to the research note, Telsey Advisory Group Lowers the price target to $21 per share from a prior target of $23. The shares have been rated ‘Market Perform’ by the firm. On Jan 19, 2017, Bank of America said it Downgrades its rating on Kate Spade & Co. The shares have been rated ‘Neutral’ by the firm. On Dec 30, 2016, SunTrust Robinson Humphrey said it Maintains its rating on Kate Spade & Co. According to the research note, SunTrust Robinson Humphrey Raises the price target to $18 per share from a prior target of $15. The shares have been rated ‘Neutral’ by the firm.

Kate Spade & Co (KATE) made into the market gainers list on Fridays trading session with the shares advancing 1.05% or 0.24 points. Due to strong positive momentum, the stock ended at $23.19, which is also near the day’s high of $23.415. The stock began the session at $22.85 and the volume stood at 21,98,862 shares. The 52-week high of the shares is $26.46 and the 52 week low is $14.02. The company has a current market capitalization of $2,975 M and it has 12,82,91,120 shares in outstanding.

Kate Spade & Co(KATE) last announced its earnings results on Feb 16, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $470.837M. Analysts had an estimated revenue of $473.200M. Earnings per share were $0.41. Analysts had estimated an EPS of $0.35.

Several Insider Transactions has been reported to the SEC. On Dec 22, 2016, Deborah J Lloyd (Chief Creative Officer) sold 29,011 shares at $14.63 per share price.Also, On May 13, 2015, Doreen A Toben (director) sold 594 shares at $29.04 per share price.

Kate Spade & Company is engaged in the design and marketing of a range of accessories and apparel. The Company operates through three segments: KATE SPADE North America KATE SPADE International and Adelington Design Group. KATE SPADE North America segment consists of the Company’s kate spade new york KATE SPADE SATURDAY and JACK SPADE brands in North America. KATE SPADE International segment consists of the Company’s kate spade new york KATE SPADE SATURDAY and JACK SPADE brands in International markets. Adelington Design Group segment consists of exclusive arrangements to supply jewelry for the LIZ CLAIBORNE and MONET brands; the wholesale apparel and wholesale non-apparel operations of the licensed LIZWEAR brand and other brands and the licensed LIZ CLAIBORNE NEW YORK brand. The Company operates specialty retail stores outlet stores and concession stores.

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