Despite the weak U.S. retail sales data showing that purchases cooled down in July, Kohl’s share price increased by more than 7% yesterday after announcing better-than-expected financial performance in Q2 2021.
Despite the recent slips in the stock market, not all stocks have a grim future. All savvy investors must consider chasing some of the best-performing assets if they want to drive returns. If you are looking for one of the few stocks that managed to spike amid uncertainties, you are in the right place.
The next sections introduce you to Kohl’s and explain why it might be an excellent stock to buy right now. We’ve also short-listed the best places to buy Kohl’s shares online.
How & Where to Buy Kohl’s Stock Online
If you want to invest in Kohl’s, these are some of the best online brokers that offer you access to its stock, among many other investment vehicles:
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What Is Kohl’s?
Kohl’s (NYSE: KSS) is the largest department store chain in the United States. With a broad product portfolio, Kohl’s caters to a variety of needs, providing shoes, clothing, home products, and even toys.
Should I Buy Kohl’s Today?
Yesterday, Kohl’s stock put on its sports shoes and jumped from Wednesday’s low of $51.53 all the way up to $55.64. Its stock price increased by 7.3% after announcing its financial results for Q2 2021 – and is now up 36.74% YTD.
Market participants expected quarterly revenue of $1.16 per share, much lower than the actual $2.48 per share reported by the company. The reported revenue of $4.445 billion was also much higher than the estimated $3.99 billion.
Apart from excellent financial results that drove its share price higher, Kohl’s CEO, Michelle Gass, announced the plans for several partnerships aimed to drive future growth.
Nonetheless, the excellent financial results alone would be reason enough to invest in the stock, given its leadership position in the US. Its price volatility, ranging from $18.28 to $64.80 in a 52-week period, may also be a good enough reason for traders looking for quick profits.
Kohl’s Price Prediction 2021
Kohl’s price is forecast to reach a high of $75 in the next 12 months and a low of $47. The median price target for Kohl’s for the next year is $66, an increase of more than 18% compared to the current share price (as of this writing) of $55.64.