BTIG Research Initiates Coverage on Capri (NYSE:CPRI)

Analysts at BTIG Research assumed coverage on shares of Capri (NYSE:CPRI) in a note issued to investors on Tuesday, MarketBeat reports. The firm set a “buy” rating on the stock.

A number of other research firms have also issued reports on CPRI. JPMorgan Chase & Co. raised Capri from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $21.00 to $30.00 in a report on Wednesday, August 13th. Wall Street Zen raised Capri from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Capri in a research note on Wednesday, October 8th. Telsey Advisory Group reiterated a “market perform” rating and issued a $22.00 price target (up from $20.00) on shares of Capri in a report on Wednesday, August 6th. Finally, UBS Group boosted their price target on Capri from $18.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.54.

Capri Trading Up 0.5%

NYSE:CPRI traded up $0.10 on Tuesday, reaching $20.85. The company’s stock had a trading volume of 248,581 shares, compared to its average volume of 3,423,450. Capri has a 12-month low of $11.86 and a 12-month high of $42.95. The company has a quick ratio of 0.61, a current ratio of 1.17 and a debt-to-equity ratio of 3.97. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -2.22, a price-to-earnings-growth ratio of 0.43 and a beta of 1.82. The stock has a 50 day moving average price of $20.75 and a 200 day moving average price of $18.39.

Capri (NYSE:CPRI) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.37. Capri had a negative return on equity of 53.50% and a negative net margin of 26.73%.The business had revenue of $797.00 million during the quarter, compared to analysts’ expectations of $773.18 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The company’s revenue was down 6.0% on a year-over-year basis. On average, equities analysts anticipate that Capri will post 0.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Capri

A number of institutional investors have recently modified their holdings of the stock. CWM LLC lifted its stake in shares of Capri by 37.2% in the 2nd quarter. CWM LLC now owns 2,360 shares of the company’s stock valued at $42,000 after purchasing an additional 640 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Capri by 5.7% during the first quarter. PNC Financial Services Group Inc. now owns 12,320 shares of the company’s stock worth $243,000 after purchasing an additional 667 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Capri by 3.9% in the second quarter. Teacher Retirement System of Texas now owns 17,906 shares of the company’s stock valued at $317,000 after buying an additional 671 shares during the period. Principal Financial Group Inc. increased its stake in Capri by 0.3% in the first quarter. Principal Financial Group Inc. now owns 271,400 shares of the company’s stock valued at $5,355,000 after purchasing an additional 709 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Capri by 0.7% during the second quarter. California State Teachers Retirement System now owns 108,789 shares of the company’s stock worth $1,926,000 after acquiring an additional 734 shares in the last quarter. Institutional investors and hedge funds own 84.34% of the company’s stock.

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.