Capri (NYSE:CPRI) Raised to “Buy” at Citigroup

Capri (NYSE:CPRI) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Friday, MarketBeat reports. The firm currently has a $29.00 price objective on the stock, up from their prior price objective of $21.00. Citigroup’s target price indicates a potential upside of 34.63% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Wells Fargo & Company raised Capri from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $20.00 to $28.00 in a research note on Friday. Guggenheim upgraded Capri from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, November 26th. TD Cowen dropped their price objective on Capri from $57.00 to $22.00 and set a “hold” rating for the company in a research report on Friday, November 15th. Barclays restated an “equal weight” rating and issued a $21.00 target price on shares of Capri in a report on Wednesday, November 20th. Finally, BMO Capital Markets raised shares of Capri from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $25.00 to $31.00 in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.55.

Capri Stock Performance

Shares of CPRI opened at $21.54 on Friday. The company has a 50-day moving average of $21.35 and a two-hundred day moving average of $30.62. The stock has a market cap of $2.54 billion, a P/E ratio of -7.04, a PEG ratio of 4.55 and a beta of 2.06. Capri has a 12-month low of $18.70 and a 12-month high of $51.23. The company has a current ratio of 0.93, a quick ratio of 0.38 and a debt-to-equity ratio of 0.83.

Institutional Investors Weigh In On Capri

Institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System raised its stake in Capri by 2.2% during the second quarter. Arizona State Retirement System now owns 32,633 shares of the company’s stock worth $1,080,000 after purchasing an additional 693 shares during the period. Texas Permanent School Fund Corp boosted its holdings in Capri by 13.0% in the second quarter. Texas Permanent School Fund Corp now owns 115,305 shares of the company’s stock valued at $3,814,000 after acquiring an additional 13,287 shares during the last quarter. Headlands Technologies LLC grew its position in Capri by 231.5% during the second quarter. Headlands Technologies LLC now owns 8,596 shares of the company’s stock valued at $284,000 after acquiring an additional 6,003 shares during the period. Federated Hermes Inc. increased its stake in Capri by 34.4% during the second quarter. Federated Hermes Inc. now owns 13,172 shares of the company’s stock worth $436,000 after acquiring an additional 3,370 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of Capri in the 2nd quarter worth about $2,226,000. 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.