Capri (NYSE:CPRI) Price Target Cut to $23.00

Capri (NYSE:CPRI) had its price objective reduced by investment analysts at Wells Fargo & Company from $42.00 to $23.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 8.18% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. StockNews.com cut shares of Capri from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. Telsey Advisory Group reduced their price target on Capri from $42.00 to $26.00 and set a “market perform” rating on the stock in a report on Friday. Citigroup lowered Capri from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a research report on Friday, September 13th. Finally, UBS Group cut 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 investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.50.

Capri Trading Down 48.9 %

Shares of CPRI stock opened at $21.26 on Friday. The business has a 50-day moving average of $38.74 and a 200 day moving average of $35.89. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.41. Capri has a 1-year low of $20.99 and a 1-year high of $51.46. The stock has a market capitalization of $2.50 billion, a PE ratio of -8.54, a P/E/G ratio of 6.93 and a beta of 1.97.

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

Institutional Trading of Capri

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Riverwater Partners LLC purchased a new position in shares of Capri during the 3rd quarter worth approximately $1,030,000. Aristides Capital LLC purchased a new stake in Capri in the second quarter worth $1,865,000. State Board of Administration of Florida Retirement System raised its holdings in Capri by 17.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 155,580 shares of the company’s stock worth $7,312,000 after purchasing an additional 23,294 shares in the last quarter. Fortis Group Advisors LLC purchased a new position in Capri during the third quarter valued at $2,149,000. Finally, Gabelli Funds LLC boosted its holdings in shares of Capri by 7.1% during the 1st quarter. Gabelli Funds LLC now owns 504,599 shares of the company’s stock valued at $22,858,000 after buying an additional 33,550 shares in the last quarter. 84.34% of the stock is currently 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.