Kate Spade & Co (KATE) Downgraded by BidaskClub to “Sell”

Kate Spade & Co (NYSE:KATE) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday, July 12th.

Other research analysts also recently issued reports about the company. BMO Capital Markets set a $19.00 target price on Kate Spade & Co and gave the stock a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research raised Kate Spade & Co from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 21st. William Blair downgraded Kate Spade & Co from an “outperform” rating to a “market perform” rating in a report on Monday, May 8th. Buckingham Research reaffirmed a “neutral” rating on shares of Kate Spade & Co in a report on Tuesday, May 9th. Finally, Nomura reaffirmed a “neutral” rating and set a $18.50 target price on shares of Kate Spade & Co in a report on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $20.80.

Kate Spade & Co (KATE) remained flat at $18.49 during trading on Wednesday. 7,789,960 shares of the stock were exchanged. The firm has a 50-day moving average of $18.45 and a 200 day moving average of $19.25. Kate Spade & Co has a 1-year low of $14.02 and a 1-year high of $24.24.

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A number of hedge funds have recently modified their holdings of the stock. IFP Advisors Inc raised its stake in shares of Kate Spade & Co by 10.9% in the first quarter. IFP Advisors Inc now owns 8,172 shares of the textile maker’s stock worth $190,000 after buying an additional 800 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Kate Spade & Co during the first quarter worth approximately $546,000. Profund Advisors LLC raised its stake in shares of Kate Spade & Co by 3.4% in the first quarter. Profund Advisors LLC now owns 17,669 shares of the textile maker’s stock worth $410,000 after buying an additional 589 shares during the last quarter. Quotient Investors LLC purchased a new stake in shares of Kate Spade & Co during the first quarter worth approximately $229,000. Finally, Louisiana State Employees Retirement System raised its stake in shares of Kate Spade & Co by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the textile maker’s stock worth $753,000 after buying an additional 700 shares during the last quarter. 97.87% of the stock is owned by institutional investors and hedge funds.

Kate Spade & Co Company Profile

Kate Spade & Company is engaged in the design and marketing of a range of accessories and apparel. It operates through three segments. The KATE SPADE North America segment consists of the Company’s kate spade new york and JACK SPADE brands in North America. The KATE SPADE International segment consists of the Company’s kate spade new york and JACK SPADE brands in international markets, which operates principally in Japan, Asia (excluding Japan), Europe and Latin America).

Analyst Recommendations for Kate Spade & Co (NYSE:KATE)

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