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 boosted by equities researchers at UBS Group from $18.00 to $23.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's target price would suggest a potential upside of 14.44% from the stock's previous close.

Several other research firms have also weighed in on CPRI. Robert W. Baird lowered their price objective on Capri from $26.00 to $18.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Barclays reduced their target price on Capri from $19.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Wall Street Zen cut Capri from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. JPMorgan Chase & Co. raised their price target on shares of Capri from $18.00 to $21.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Finally, Wells Fargo & Company lowered their target price on shares of Capri from $30.00 to $25.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $23.33.

Capri Stock Performance

Shares of CPRI stock traded down $0.74 on Thursday, hitting $20.10. 1,866,672 shares of the stock traded hands, compared to its average volume of 3,674,708. The company has a market capitalization of $2.37 billion, a PE ratio of -2.01, a PEG ratio of 0.39 and a beta of 1.72. The company's fifty day moving average is $18.22 and its 200 day moving average is $18.88. The company has a debt-to-equity ratio of 3.97, a current ratio of 1.14 and a quick ratio of 0.49. Capri has a 1-year low of $11.86 and a 1-year high of $43.34.

Capri (NYSE:CPRI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.37. Capri had a negative return on equity of 39.55% and a negative net margin of 26.61%. The firm had revenue of $797.00 million during the quarter, compared to the consensus estimate of $773.18 million. During the same quarter in the previous year, the company posted $0.04 EPS. The business's revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities research analysts predict that Capri will post 0.98 earnings per share for the current fiscal year.

Institutional Trading of Capri

A number of institutional investors and hedge funds have recently modified their holdings of CPRI. CWM LLC raised its position in Capri by 37.2% in the second quarter. CWM LLC now owns 2,360 shares of the company's stock valued at $42,000 after purchasing an additional 640 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Capri by 5.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,320 shares of the company's stock valued at $243,000 after purchasing an additional 667 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Capri by 3.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 17,906 shares of the company's stock worth $317,000 after buying an additional 671 shares during the period. Principal Financial Group Inc. increased its position in shares of Capri by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 271,400 shares of the company's stock worth $5,355,000 after purchasing an additional 709 shares during the last quarter. Finally, Investors Research Corp boosted its stake in Capri by 3.8% during the 1st quarter. Investors Research Corp now owns 21,669 shares of the company's stock valued at $428,000 after purchasing an additional 800 shares during the period. 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.

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