The Goldman Sachs Group Issues Positive Forecast for Capri (NYSE:CPRI) Stock Price

Key Points

• Goldman Sachs raised Capri’s price target from $18 to $20 while maintaining a “neutral” rating, implying about 2.1% downside from the prior close.
• Analyst sentiment remains mixed but leans cautious: Capri has an overall “Hold” rating and an average price target of $22.20 from 16 analysts.
• Capri shares rose 9.4% to $20.43 after the company beat quarterly earnings and revenue estimates, although revenue declined 5.5% year over year.

Capri (NYSE:CPRI - Get Free Report) had its price objective raised by research analysts at The Goldman Sachs Group from $18.00 to $20.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective points to a potential downside of 2.10% from the company's previous close.

A number of other research analysts have also weighed in on the stock. Wall Street Zen raised shares of Capri from a "hold" rating to a "buy" rating in a research note on Saturday, September 5th. BTIG Research cut their price target on shares of Capri from $30.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, August 6th. TD Cowen assumed coverage on shares of Capri in a research report on Friday. They issued a "hold" rating on the stock. Wells Fargo & Company raised their target price on Capri from $16.00 to $18.00 and gave the company an "equal weight" rating in a report on Monday. Finally, Telsey Advisory Group dropped their price target on shares of Capri from $21.00 to $18.00 and set a "market perform" rating for the company in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $22.20.

Capri Trading Up 9.4%

CPRI traded up $1.75 on Monday, reaching $20.43. 3,596,256 shares of the company traded hands, compared to its average volume of 3,574,789. The company has a market cap of $2.32 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 0.38 and a beta of 1.27. The company has a quick ratio of 0.50, a current ratio of 1.18 and a debt-to-equity ratio of 6.31. Capri has a one year low of $12.40 and a one year high of $28.26. The firm has a fifty day simple moving average of $14.62 and a two-hundred day simple moving average of $17.91.

Capri (NYSE:CPRI - Get Free Report) last released its quarterly earnings data on Friday, October 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.21. The firm had revenue of $809.00 million during the quarter, compared to the consensus estimate of $786.55 million. Capri had a return on equity of 242.96% and a net margin of 6.12%. The firm's quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) earnings per share. As a group, equities research analysts expect that Capri will post 2.20 earnings per share for the current year.

Hedge Funds Weigh In On Capri

Hedge funds have recently made changes to their positions in the business. Cooper Creek Partners Management LLC acquired a new stake in shares of Capri in the first quarter valued at about $23,784,000. Squarepoint Ops LLC bought a new stake in Capri during the 2nd quarter worth approximately $4,878,000. Engineers Gate Manager LP bought a new stake in shares of Capri during the second quarter worth $3,804,000. Quantinno Capital Management LP grew its holdings in Capri by 105.4% during the 1st quarter. Quantinno Capital Management LP now owns 176,583 shares of the company's stock worth $3,111,000 after acquiring an additional 90,600 shares during the period. Finally, Polar Asset Management Partners Inc. bought a new position in Capri during the first quarter worth about $3,027,000. Hedge funds and other institutional investors own 84.34% of the company's stock.

Capri Company Profile

Capri Holdings Limited NYSE: CPRI is a global fashion and luxury goods company headquartered in London. The company designs, develops, markets and distributes luxury apparel, footwear, handbags, accessories, watches, jewelry and fragrances through its portfolio of fashion brands.

Capri's principal brands are Michael Kors, Versace and Jimmy Choo. Michael Kors offers a broad range of fashion and lifestyle products, including handbags, footwear, apparel, watches and accessories. Versace is known for luxury clothing, accessories, footwear, home products and fragrances, while Jimmy Choo specializes in luxury footwear, handbags, accessories and fragrances.

The company sells its products through directly operated retail stores, e-commerce platforms, wholesale partners, department stores, specialty retailers and other distribution channels.

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