Capri (NYSE:CPRI) Reaches New 52-Week Low – Here’s Why

Capri Holdings Limited (NYSE:CPRI)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $19.15 and last traded at $19.23, with a volume of 207708 shares trading hands. The stock had previously closed at $19.46.

Wall Street Analysts Forecast Growth

CPRI has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on Capri from $57.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Citigroup cut Capri from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research report on Friday, September 13th. StockNews.com cut Capri from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. Telsey Advisory Group lowered their price objective on Capri from $42.00 to $26.00 and set a “market perform” rating on the stock in a research report on Friday, October 25th. Finally, UBS Group lowered their price objective on Capri from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Capri has a consensus rating of “Hold” and an average target price of $31.50.

Capri Trading Down 2.1 %

The stock has a fifty day moving average of $37.94 and a 200 day moving average of $35.46. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.41 and a current ratio of 0.95. The company has a market capitalization of $2.24 billion, a PE ratio of -9.67, a PEG ratio of 6.93 and a beta of 1.97.

Capri (NYSE:CPRI) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.55). The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Capri had a positive return on equity of 18.72% and a negative net margin of 5.81%. The firm’s revenue was down 13.2% on a year-over-year basis. During the same period last year, the company earned $0.74 earnings per share. As a group, sell-side analysts predict that Capri Holdings Limited will post 2.12 earnings per share for the current fiscal year.

Institutional Trading of Capri

Several hedge funds have recently modified their holdings of CPRI. Baupost Group LLC MA bought a new position in shares of Capri during the 2nd quarter valued at approximately $33,080,000. DME Capital Management LP bought a new position in shares of Capri during the 2nd quarter valued at approximately $22,652,000. Khrom Capital Management LLC bought a new position in shares of Capri during the 1st quarter valued at approximately $17,681,000. Absolute Gestao de Investimentos Ltda. bought a new position in shares of Capri during the 1st quarter valued at approximately $13,008,000. Finally, Clearline Capital LP bought a new position in shares of Capri during the 2nd quarter valued at approximately $9,362,000. 84.34% of the stock is owned by hedge funds and other institutional investors.

Capri Company Profile

Capri Holdings Limited designs, markets, distributes, and retails branded women's and men's apparel, footwear, and accessories in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia. It operates through three segments: Versace, Jimmy Choo, and Michael Kors. The company offers ready-to-wear, accessories, footwear, handbags, scarves and belts, small leather goods, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques, department, and specialty stores, as well as through e-commerce sites.