NEW YORK (TheStreet) -- Shares of Michael Kors Holding Ltd  (KORS) are up 0.7% to $46.25 in early market trading Thursday, despite the luxury goods retailer receiving downgrades at several firms this morning following its disappointing fiscal 2015 fourth-quarter earnings results.

Analysts at Goldman Sachs downgraded the fashion brand to "neutral" from "buy" this morning. The firm also lowered its price target to $50 from its prior $93, saying it lacks sales visibility.

Telsey Advisory also lowered its rating to "market perform" from "outperform" with the same $50 objective, citing its lower sales outlook.

And, Stephens downgraded Michael Kors to "equal weight" from "overweight." The firm cut its price target to $52 from $85, due to negative North American same store sales and weak guidance.

Michael Kors reported earnings of 90 cents per share for the fourth quarter early Wednesday, missing analysts' estimates by a penny.

The retailer posted revenue of $1.1 billion for the quarter, in-line with analysts' expectations, according to Thomson Reuters data.

Comparable store sales in North America, a key industry metric, fell by 6.7% for the fourth quarter. Analysts had expected a 4.4% rise.

In addition, the company repurchased more than 1.4 million shares, totaling about $92 million.

Looking ahead, Michael Kors issued fiscal 2016 guidance below analysts' expectations.

For fiscal 2016, Michael Kors is guiding for earnings in the range of $4.40 to $4.50 per diluted share. Analysts are expecting earnings of $4.70 per share for the year.

The company guided for revenue between $4.7 billion and $4.8 billion, also lower compared to the $5.05 billion consensus estimate.

London-based Michael Kors is a global lifestyle brand and an American sportswear house to a global accessories, footwear and apparel company with a presence in more than 85 countries.

Separately, Separately, TheStreet Ratings team rates MICHAEL KORS HOLDINGS LTD as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate MICHAEL KORS HOLDINGS LTD (KORS) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, impressive record of earnings per share growth and compelling growth in net income. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."

You can view the full analysis from the report here: KORS Ratings Report

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