Capri (NYSE:CPRI) Stock Price Down 22.2% – Here’s What Happened

Capri Holdings Limited (NYSE:CPRI) fell 22.2% during trading on Thursday . The company traded as low as $16.03 and last traded at $15.28. 1,205,064 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 2,849,915 shares. The stock had previously closed at $19.63.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CPRI. BMO Capital Markets upgraded shares of Capri from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $25.00 to $31.00 in a research report on Monday, January 6th. Barclays lowered their target price on Capri from $21.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Bank of America started coverage on Capri in a report on Monday, February 10th. They set a “neutral” rating and a $23.00 price objective for the company. Jefferies Financial Group raised their price target on shares of Capri from $20.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, January 28th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $23.00 price objective on shares of Capri in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Capri presently has an average rating of “Hold” and a consensus price target of $25.92.

Capri Stock Down 3.5 %

The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.59 and a current ratio of 1.21. The business’s 50 day moving average is $21.49 and its 200 day moving average is $25.45. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -1.69, a PEG ratio of 7.80 and a beta of 1.77.

Capri (NYSE:CPRI) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.27). Capri had a negative net margin of 21.79% and a positive return on equity of 12.89%. During the same period last year, the company earned $1.20 earnings per share. Sell-side analysts anticipate that Capri Holdings Limited will post 0.98 earnings per share for the current year.

Institutional Investors Weigh In On Capri

Large investors have recently modified their holdings of the company. Sunbelt Securities Inc. purchased a new position in shares of Capri during the third quarter worth about $42,000. Twin Tree Management LP acquired a new position in shares of Capri during the 4th quarter worth approximately $45,000. Quarry LP purchased a new stake in shares of Capri in the third quarter valued at $53,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Capri during the 4th quarter worth about $74,000. Finally, KBC Group NV raised its holdings in Capri by 63.9% in the 4th quarter. KBC Group NV now owns 5,039 shares of the company’s stock valued at $106,000 after acquiring an additional 1,965 shares during the last quarter. 84.34% of the stock is owned by hedge funds and other institutional investors.

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.