Bank of America Begins Coverage on Capri (NYSE:CPRI)

Investment analysts at Bank of America initiated coverage on shares of Capri (NYSE:CPRI) in a research report issued on Monday. The brokerage set a “neutral” rating and a $23.00 price target on the stock. Bank of America‘s price target would indicate a potential upside of 5.94% from the stock’s current price.

A number of other research firms have also recently commented on CPRI. TD Cowen reduced their price objective on shares of Capri from $57.00 to $22.00 and set a “hold” rating for the company in a research report on Friday, November 15th. Barclays reduced their target price on shares of Capri from $21.00 to $19.00 and set an “equal weight” rating for the company in a report on Thursday. Robert W. Baird cut their price objective on shares of Capri from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their target price on Capri from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Finally, BMO Capital Markets raised Capri from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $25.00 to $31.00 in a report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $25.92.

Capri Price Performance

NYSE:CPRI opened at $21.71 on Monday. The company has a market cap of $2.56 billion, a P/E ratio of -2.54, a P/E/G ratio of 4.97 and a beta of 2.06. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.38 and a current ratio of 1.21. Capri has a 52-week low of $18.70 and a 52-week high of $47.80. The stock’s 50-day simple moving average is $22.60 and its 200 day simple moving average is $29.13.

Capri (NYSE:CPRI) last issued its earnings results on Wednesday, February 5th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the company earned $1.20 earnings per share. As a group, sell-side analysts forecast that Capri will post 1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Capri

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sunbelt Securities Inc. bought a new stake in Capri during the third quarter worth $42,000. Quarry LP bought a new stake in shares of Capri during the 3rd quarter worth $53,000. KBC Group NV grew its position in Capri by 26.9% in the third quarter. KBC Group NV now owns 3,074 shares of the company’s stock valued at $130,000 after acquiring an additional 652 shares during the last quarter. CWM LLC lifted its holdings in shares of Capri by 26.9% in the third quarter. CWM LLC now owns 3,112 shares of the company’s stock worth $132,000 after acquiring an additional 660 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its holdings in shares of Capri by 15.2% in the third quarter. Avior Wealth Management LLC now owns 4,033 shares of the company’s stock worth $171,000 after acquiring an additional 533 shares during the last quarter. 84.34% of the stock is currently owned by institutional investors and hedge funds.

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.