Capri (NYSE:CPRI) Shares Up 5% – Here’s Why

Capri Holdings Limited (NYSE:CPRI)’s stock price rose 5% on Wednesday . The company traded as high as $19.47 and last traded at $18.43. Approximately 1,587,226 shares were traded during trading, a decline of 51% from the average daily volume of 3,263,873 shares. The stock had previously closed at $17.55.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CPRI shares. Telsey Advisory Group reiterated a “market perform” rating and issued a $20.00 target price (up previously from $17.00) on shares of Capri in a research note on Wednesday. Barclays reduced their price objective on shares of Capri from $19.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company lowered their target price on shares of Capri from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. UBS Group increased their target price on Capri from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Bank of America began coverage on Capri in a research report on Monday, February 10th. They issued a “neutral” rating and a $23.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.50.

Capri Stock Up 2.6%

The company has a market cap of $2.18 billion, a PE ratio of -2.16, a P/E/G ratio of 7.80 and a beta of 1.64. The stock has a 50-day moving average of $16.39 and a 200-day moving average of $20.06. The company has a quick ratio of 0.59, a current ratio of 1.21 and a debt-to-equity ratio of 1.36.

Capri (NYSE:CPRI) last released its quarterly earnings results on Wednesday, May 28th. The company reported ($4.90) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($5.12). Capri had a negative net margin of 21.79% and a positive return on equity of 12.89%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $989.05 million. During the same period in the previous year, the business earned $0.42 EPS. The business’s revenue was down 15.4% on a year-over-year basis. Sell-side analysts predict that Capri Holdings Limited will post 0.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC lifted its stake in Capri by 174.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,670 shares of the company’s stock worth $456,000 after purchasing an additional 13,785 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Capri by 3.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 21,767 shares of the company’s stock valued at $458,000 after buying an additional 643 shares in the last quarter. KBC Group NV raised its holdings in shares of Capri by 63.9% during the 4th quarter. KBC Group NV now owns 5,039 shares of the company’s stock valued at $106,000 after buying an additional 1,965 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in Capri by 57.7% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 15,774 shares of the company’s stock worth $332,000 after buying an additional 5,769 shares during the last quarter. Finally, ARGA Investment Management LP boosted its stake in Capri by 149.4% in the fourth quarter. ARGA Investment Management LP now owns 227,957 shares of the company’s stock worth $4,801,000 after buying an additional 136,556 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.