Capri (NYSE:CPRI) Raised to “Outperform” at Raymond James Financial

Capri (NYSE:CPRI) was upgraded by stock analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm presently has a $25.00 price target on the stock. Raymond James Financial’s price objective would indicate a potential upside of 11.53% from the company’s current price.

CPRI has been the topic of a number of other research reports. UBS Group lifted their target price on Capri from $18.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Telsey Advisory Group reiterated a “market perform” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Capri in a research note on Wednesday, August 6th. BTIG Research began coverage on Capri in a report on Tuesday, October 14th. They issued a “buy” rating and a $30.00 price objective for the company. JPMorgan Chase & Co. raised shares of Capri from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $21.00 to $30.00 in a report on Wednesday, August 13th. Finally, Wall Street Zen upgraded shares of Capri from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.57.

Capri Price Performance

CPRI stock opened at $22.42 on Tuesday. The business’s 50-day moving average is $20.89 and its two-hundred day moving average is $18.53. The company has a debt-to-equity ratio of 3.97, a current ratio of 1.17 and a quick ratio of 0.61. The firm has a market capitalization of $2.67 billion, a P/E ratio of -2.38, a P/E/G ratio of 0.47 and a beta of 1.82. Capri has a 1 year low of $11.86 and a 1 year high of $42.21.

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

Hedge Funds Weigh In On Capri

A number of institutional investors and hedge funds have recently made changes to their positions in CPRI. Primecap Management Co. CA boosted its holdings in Capri by 0.6% during the second quarter. Primecap Management Co. CA now owns 5,215,404 shares of the company’s stock worth $92,313,000 after buying an additional 31,684 shares in the last quarter. State Street Corp lifted its position in shares of Capri by 19.3% during the 2nd quarter. State Street Corp now owns 4,479,231 shares of the company’s stock valued at $79,282,000 after acquiring an additional 724,967 shares during the period. Norges Bank purchased a new stake in shares of Capri during the 2nd quarter worth approximately $55,906,000. Geode Capital Management LLC grew its holdings in shares of Capri by 42.2% in the 2nd quarter. Geode Capital Management LLC now owns 2,882,813 shares of the company’s stock worth $51,032,000 after acquiring an additional 855,330 shares during the period. Finally, American Century Companies Inc. increased its stake in Capri by 11.2% in the 2nd quarter. American Century Companies Inc. now owns 2,269,089 shares of the company’s stock valued at $40,163,000 after purchasing an additional 229,202 shares in the last quarter. 84.34% of the stock is 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.