Michael Kors Stock Falls On Unusually High Volume (KORS)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Michael Kors Holdings (NYSE: KORS) is trading at unusually high volume Thursday with 8.6 million shares changing hands. It is currently at 2.1 times its average daily volume and trading down $1.50 (-2.4%) at $60 as of 9:47 a.m. ET.

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Michael Kors has a market cap of $12.99 billion and is part of the services sector and retail industry. Shares are up 27.1% year to date as of the close of trading on Wednesday.

Michael Kors Holdings Limited engages in the design, marketing, distribution, and retail of branded women's apparel and accessories, and men's apparel. The company sells its products primarily under the names of Michael Kors, MICHAEL KORS, MICHAEL MICHAEL KORS, and KORS MICHAEL KORS. The company has a P/E ratio of 40.3, above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Michael Kors as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, notable return on equity and robust revenue growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation. You can view the full Michael Kors Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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