Capri (NYSE:CPRI) Shares Gap Down Following Analyst Downgrade

Capri Holdings Limited (NYSE:CPRI)’s stock price gapped down before the market opened on Friday after Robert W. Baird lowered their price target on the stock from $24.00 to $23.00. The stock had previously closed at $21.99, but opened at $20.09. Robert W. Baird currently has a neutral rating on the stock. Capri shares last traded at $19.82, with a volume of 2,629,595 shares trading hands.

Several other analysts also recently weighed in on the company. UBS Group dropped their price target on Capri from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Wells Fargo & Company decreased their price objective on shares of Capri from $42.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $26.00 price objective on shares of Capri in a report on Friday, November 1st. JPMorgan Chase & Co. reduced their target price on shares of Capri from $57.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, StockNews.com lowered shares of Capri from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.29.

Institutional Trading of Capri

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp boosted its stake in shares of Capri by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 102,018 shares of the company’s stock worth $4,621,000 after acquiring an additional 1,619 shares in the last quarter. SG Americas Securities LLC boosted its position in Capri by 82.2% during the first quarter. SG Americas Securities LLC now owns 83,135 shares of the company’s stock worth $3,766,000 after purchasing an additional 37,508 shares in the last quarter. Swiss National Bank grew its holdings in Capri by 0.3% in the first quarter. Swiss National Bank now owns 229,500 shares of the company’s stock valued at $10,396,000 after purchasing an additional 600 shares during the period. Ardent Capital Management Inc. increased its position in shares of Capri by 242.6% in the first quarter. Ardent Capital Management Inc. now owns 34,255 shares of the company’s stock valued at $1,552,000 after buying an additional 24,255 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Capri during the 1st quarter worth approximately $117,000. Institutional investors and hedge funds own 84.34% of the company’s stock.

Capri Trading Down 6.7 %

The company has a 50 day moving average price of $35.84 and a two-hundred day moving average price of $34.61. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -8.24, a P/E/G ratio of 3.75 and a beta of 2.05. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.41 and a current ratio of 0.95.

Capri (NYSE:CPRI) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.55). The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Capri had a negative net margin of 5.81% and a positive return on equity of 18.72%. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 earnings per share. On average, research analysts forecast that Capri Holdings Limited will post 2.05 EPS for the current year.

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.