Capri (NYSE:CPRI) Price Target Raised to $23.00

Key Points

• UBS Group has raised its price target for Capri (NYSE:CPRI) from $18.00 to $23.00, indicating a potential upside of 14.44% from the stock's previous close.
• Despite the positive price target from UBS, several other firms have cut their price objectives and assigned "neutral" or "sell" ratings, including Robert W. Baird and Barclays.
• Capri reported earnings per share of $0.50 for the most recent quarter, surpassing estimates and reflecting adjusted revenue of $797 million, although it represents a 6.0% drop from the previous year.

Capri (NYSE:CPRI - Get Free Report) had its price objective hoisted by investment analysts at UBS Group from $18.00 to $23.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's price objective suggests a potential upside of 18.40% from the stock's previous close.

Other analysts have also recently issued reports about the company. Wall Street Zen cut Capri from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. JPMorgan Chase & Co. boosted their price objective on Capri from $18.00 to $21.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Wells Fargo & Company decreased their target price on Capri from $30.00 to $25.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Barclays decreased their price objective on Capri from $19.00 to $13.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $22.00 target price (up from $20.00) on shares of Capri in a report on Wednesday, August 6th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Capri currently has a consensus rating of "Hold" and an average target price of $23.33.

Capri Price Performance

NYSE:CPRI traded down $0.28 during trading hours on Thursday, reaching $19.43. The company had a trading volume of 2,841,869 shares, compared to its average volume of 3,687,411. The company has a quick ratio of 0.61, a current ratio of 1.17 and a debt-to-equity ratio of 3.97. The firm has a market capitalization of $2.29 billion, a PE ratio of -2.06, a PEG ratio of 0.42 and a beta of 1.72. The stock has a 50-day moving average of $18.30 and a two-hundred day moving average of $18.75. Capri has a one year low of $11.86 and a one year high of $43.34.

Capri (NYSE:CPRI - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.37. Capri had a negative return on equity of 53.50% and a negative net margin of 26.73%. The firm had revenue of $797.00 million for the quarter, compared to analyst estimates of $773.18 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The company's quarterly revenue was down 6.0% on a year-over-year basis. Analysts forecast that Capri will post 0.98 earnings per share for the current year.

Hedge Funds Weigh In On Capri

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its position in Capri by 249.4% during the fourth quarter. FMR LLC now owns 9,987,603 shares of the company's stock valued at $210,339,000 after acquiring an additional 7,129,123 shares during the last quarter. Junto Capital Management LP purchased a new position in shares of Capri during the fourth quarter worth $26,112,000. American Century Companies Inc. raised its holdings in shares of Capri by 143.3% during the first quarter. American Century Companies Inc. now owns 2,039,887 shares of the company's stock worth $40,247,000 after purchasing an additional 1,201,488 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Capri by 72.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,595,029 shares of the company's stock worth $54,647,000 after purchasing an additional 1,088,051 shares during the last quarter. Finally, DME Capital Management LP grew its position in Capri by 93.6% during the fourth quarter. DME Capital Management LP now owns 2,103,717 shares of the company's stock valued at $44,304,000 after buying an additional 1,017,072 shares during the period. 84.34% of the stock is currently owned by 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.