Michael Kors Holdings Limited (KORS) was a big mover last session, as the company saw its shares rise nearly 11% on the day. The upside came after the company posted better-than-expected results for the first quarter of fiscal 2016 which led to more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $43.48 to $35.54 since Jul 14.
The company has seen 6 negative estimate revisions in the past 30 days, while its Zacks Consensus Estimate moved lower over the same time frame, suggesting trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s move higher can last.
Michael Kors currently has a Zacks Rank #4 (Sell).
A better-ranked stock in the same space is Columbia Sportswear Company (COLM) sporting a Zacks Rank #1 (Strong Buy).
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