Capri (NYSE:CPRI) Shares Gap Down Following Analyst Downgrade

Capri Holdings Limited (NYSE:CPRI)’s stock price gapped down prior to trading on Friday after Robert W. Baird lowered their price target on the stock from $24.00 to $23.00. The stock had previously closed at $21.99, but opened at $20.09. Robert W. Baird currently has a neutral rating on the stock. Capri shares last traded at $19.82, with a volume of 2,629,595 shares trading hands.

Other research analysts have also issued reports about the stock. Wells Fargo & Company dropped their price target on shares of Capri from $42.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Citigroup downgraded Capri from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a research note on Friday, September 13th. JPMorgan Chase & Co. cut 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. StockNews.com cut shares of Capri from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Finally, UBS Group lowered their target price on Capri from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.29.

Institutional Trading of Capri

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in shares of Capri by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,587,602 shares of the company’s stock worth $52,514,000 after buying an additional 68,081 shares during the last quarter. Baupost Group LLC MA bought a new position in Capri in the second quarter valued at $33,080,000. Carlson Capital L P lifted its stake in Capri by 2.1% during the first quarter. Carlson Capital L P now owns 955,000 shares of the company’s stock worth $43,262,000 after purchasing an additional 20,000 shares during the last quarter. Samlyn Capital LLC boosted its holdings in shares of Capri by 8.3% in the 2nd quarter. Samlyn Capital LLC now owns 795,258 shares of the company’s stock worth $26,307,000 after purchasing an additional 61,232 shares in the last quarter. Finally, DME Capital Management LP purchased a new stake in Capri in the second quarter worth approximately $22,652,000. Institutional investors own 84.34% of the company’s stock.

Capri Price Performance

The firm has a market capitalization of $2.34 billion, a P/E ratio of -8.02, a PEG ratio of 3.44 and a beta of 2.05. The company has a quick ratio of 0.41, a current ratio of 0.95 and a debt-to-equity ratio of 0.79. The business’s 50-day simple moving average is $36.15 and its 200 day simple moving average is $34.74.

Capri (NYSE:CPRI) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.55). Capri had a positive return on equity of 18.72% and a negative net margin of 5.81%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm earned $0.74 earnings per share. Capri’s revenue for the quarter was down 13.2% on a year-over-year basis. Sell-side analysts forecast that Capri Holdings Limited will post 2.05 earnings per share for the current year.

About Capri

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.