Telsey Advisory Group Lowers Capri (NYSE:CPRI) Price Target to $23.00

Capri (NYSE:CPRI) had its price objective decreased by stock analysts at Telsey Advisory Group from $26.00 to $23.00 in a research note issued on Friday, MarketBeat reports. The brokerage currently has a “market perform” rating on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 9.52% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. UBS Group decreased their price objective on Capri from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. JPMorgan Chase & Co. lowered their price objective on shares of Capri from $57.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Robert W. Baird cut their price objective on shares of Capri from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Wells Fargo & Company reduced their target price on shares of Capri from $42.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Finally, StockNews.com lowered shares of Capri from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.88.

Capri Price Performance

Shares of CPRI opened at $21.00 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.38 and a current ratio of 0.93. Capri has a fifty-two week low of $18.70 and a fifty-two week high of $51.23. The firm has a 50-day simple moving average of $34.30 and a 200-day simple moving average of $34.07. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -6.86, a price-to-earnings-growth ratio of 3.84 and a beta of 2.05.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in Capri by 389.2% during the third quarter. FMR LLC now owns 2,858,480 shares of the company’s stock worth $121,314,000 after purchasing an additional 2,274,149 shares during the last quarter. Baupost Group LLC MA acquired a new position in shares of Capri during the 2nd quarter worth $33,080,000. DME Capital Management LP purchased a new stake in shares of Capri in the 2nd quarter worth about $22,652,000. Primecap Management Co. CA grew its stake in Capri by 14.2% in the 3rd quarter. Primecap Management Co. CA now owns 4,140,755 shares of the company’s stock valued at $175,734,000 after acquiring an additional 515,963 shares during the last quarter. Finally, Khrom Capital Management LLC purchased a new position in Capri during the 1st quarter valued at about $17,681,000. 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.