Capri (NYSE:CPRI) Sees Unusually-High Trading Volume – Time to Buy?

Capri Holdings Limited (NYSE:CPRI) saw unusually-high trading volume on Friday . Approximately 965,125 shares traded hands during mid-day trading, a decline of 10% from the previous session’s volume of 1,072,336 shares.The stock last traded at $20.25 and had previously closed at $20.61.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CPRI shares. Guggenheim upgraded Capri from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Tuesday, November 26th. Barclays restated an “equal weight” rating and set a $21.00 price objective on shares of Capri in a research report on Wednesday, November 20th. Citigroup downgraded shares of Capri from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a report on Friday, September 13th. UBS Group cut their price target on shares of Capri from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Finally, 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.90.

Capri Stock Down 1.6 %

The firm has a 50 day moving average of $21.24 and a two-hundred day moving average of $30.89. The stock has a market capitalization of $2.39 billion, a PE ratio of -6.63, a P/E/G ratio of 4.55 and a beta of 2.05. The company has a current ratio of 0.93, a quick ratio of 0.38 and a debt-to-equity ratio of 0.83.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Arizona State Retirement System grew its stake in Capri by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 32,633 shares of the company’s stock valued at $1,080,000 after acquiring an additional 693 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of Capri by 13.0% in the second quarter. Texas Permanent School Fund Corp now owns 115,305 shares of the company’s stock valued at $3,814,000 after purchasing an additional 13,287 shares in the last quarter. Cowen AND Company LLC purchased a new stake in shares of Capri in the second quarter valued at about $1,831,000. Monaco Asset Management SAM purchased a new position in shares of Capri during the 2nd quarter worth approximately $2,977,000. Finally, Headlands Technologies LLC increased its stake in shares of Capri by 231.5% during the 2nd quarter. Headlands Technologies LLC now owns 8,596 shares of the company’s stock worth $284,000 after purchasing an additional 6,003 shares in the last quarter. Hedge funds and other institutional investors own 84.34% of the company’s stock.

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.