Nov 28, 2016
Grabbed a few shares of Kate Spade (KATE) today. Kate Spade is a sub luxury brand, think of it like a more affordable version of Louis Vuitton. KATE recently dropped by 11.4% putting it's trailing 12 month P/E at 16.41. To me, this appears to be a decent deal, despite all the doom and gloom. The numbers do not appear to be in KATE's favor but I bought these shares on a gut hunch. My wife had wanted a Kate Spade bag, but instead of buying her the product I am buying shares so that if she ends up getting a bag, I can recoup a tiny fraction of what she spent.
KATE has been downgraded to market perform from outperform, rated as Moderate Buy by TipRanks Analyst Consensus, Thomson Reuters, S&P Capital IQ 3 star, SmartConsensus Report of Hold, And market Edge Second Opinion of Avoid.
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