Citigroup Lowers Capri (NYSE:CPRI) to Neutral

Citigroup downgraded shares of Capri (NYSE:CPRI) from a buy rating to a neutral rating in a report published on Friday, MarketBeat reports. They currently have $41.00 price target on the stock.

Other research analysts have also issued research reports about the company. StockNews.com lowered Capri from a hold rating to a sell rating in a report on Tuesday, August 27th. UBS Group cut their price objective on shares of Capri from $42.00 to $39.00 and set a neutral rating for the company in a research report on Wednesday, September 11th. Wells Fargo & Company lowered their target price on shares of Capri from $43.00 to $42.00 and set an overweight rating on the stock in a report on Friday, August 9th. Jefferies Financial Group cut their price target on shares of Capri from $57.00 to $38.00 and set a hold rating for the company in a report on Thursday, May 30th. Finally, Telsey Advisory Group reaffirmed a market perform rating and issued a $42.00 price objective on shares of Capri in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Capri has a consensus rating of Hold and an average target price of $40.40.

Capri Stock Performance

Shares of CPRI opened at $38.22 on Friday. The company’s 50 day simple moving average is $34.32 and its 200-day simple moving average is $36.96. The firm has a market cap of $4.46 billion, a PE ratio of -19.40, a price-to-earnings-growth ratio of 6.66 and a beta of 1.97. Capri has a 12-month low of $29.28 and a 12-month high of $52.88. The company has a current ratio of 0.95, a quick ratio of 0.41 and a debt-to-equity ratio of 0.79.

Capri (NYSE:CPRI) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.55). Capri had a negative net margin of 5.81% and a positive return on equity of 18.72%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The company’s revenue for the quarter was down 13.2% compared to the same quarter last year. As a group, equities analysts predict that Capri will post 2.12 EPS for the current year.

Hedge Funds Weigh In On Capri

Several hedge funds have recently bought and sold shares of CPRI. Norges Bank acquired a new stake in Capri in the fourth quarter valued at $166,766,000. Baupost Group LLC MA acquired a new stake in Capri in the 2nd quarter valued at about $33,080,000. Franklin Resources Inc. increased its holdings in Capri by 82.8% during the 4th quarter. Franklin Resources Inc. now owns 1,669,441 shares of the company’s stock valued at $83,873,000 after acquiring an additional 756,425 shares in the last quarter. DME Capital Management LP acquired a new position in Capri during the second quarter worth about $22,652,000. Finally, Khrom Capital Management LLC purchased a new stake in shares of Capri in the first quarter valued at about $17,681,000. 84.34% of the stock is 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.