Michael Kors Holdings Limited ( KORS ) saw a big move last session, as the company's shares fell nearly 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent trend for KORS, as the stock is now down nearly 16% since Jul 9.
This slump shouldn't be too much of a surprise to investors, as the Apparel company has seen 2 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
KORS currently has a Zacks Rank # 3 (Hold).
Some better-ranked stocks in the Textile industry include Hanesbrands Inc. ( HBI
), Perry Ellis International Inc. ( PERY
) and Crocs, Inc. ( CROX
). While Hanesbrands and Perry Ellis carry a Zacks Rank #1(Strong Buy), Crocs holds a Zacks Rank #2 (Buy).
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportMICHAEL KORS (KORS): Free Stock Analysis ReportHANESBRANDS INC (HBI): Free Stock Analysis ReportPERRY ELLIS INT (PERY): Free Stock Analysis ReportCROCS INC (CROX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research