Capri (NYSE:CPRI) Raised to Outperform at Raymond James Financial

Key Points

• Raymond James Financial upgraded Capri (NYSE:CPRI) from "market perform" to "outperform," setting a target price of $25.00, indicating a potential 16.50% upside from its previous close.
• Several other analysts also raised their price targets for Capri, with UBS Group setting a target of $23.00 and BTIG Research initiating coverage with a buy rating and a target of $30.00.
• Capri's latest earnings report showed a profit of $0.50 per share, exceeding expectations, despite a 6.0% year-over-year decline in revenue to $797 million.

Capri (NYSE:CPRI - Get Free Report) was upgraded by research analysts at Raymond James Financial from a "market perform" rating to an "outperform" rating in a note issued to investors on Tuesday,Finviz reports. The brokerage currently has a $25.00 target price on the stock. Raymond James Financial's target price points to a potential upside of 16.50% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the stock. UBS Group boosted their price target on shares of Capri from $18.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Telsey Advisory Group restated a "market perform" rating and issued a $22.00 price target (up previously from $20.00) on shares of Capri in a research report on Wednesday, August 6th. Zacks Research raised shares of Capri from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. BTIG Research began coverage on shares of Capri in a research note on Tuesday, October 14th. They set a "buy" rating and a $30.00 price objective for the company. Finally, Wall Street Zen raised shares of Capri from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $24.57.

Capri Trading Up 1.3%

Capri stock opened at $21.46 on Tuesday. The stock has a market cap of $2.55 billion, a P/E ratio of -2.28, a PEG ratio of 0.45 and a beta of 1.82. The company has a debt-to-equity ratio of 3.97, a current ratio of 1.17 and a quick ratio of 0.61. Capri has a 1 year low of $11.86 and a 1 year high of $42.33. The firm's 50 day moving average price is $20.82 and its 200-day moving average price is $18.48.

Capri (NYSE:CPRI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.37. Capri had a negative net margin of 26.73% and a negative return on equity of 53.50%. The company had revenue of $797.00 million for the quarter, compared to analysts' expectations of $773.18 million. During the same quarter in the previous year, the business posted $0.04 earnings per share. Capri's quarterly revenue was down 6.0% on a year-over-year basis. On average, equities analysts predict that Capri will post 0.98 earnings per share for the current fiscal year.

Institutional Trading of Capri

A number of large investors have recently made changes to their positions in CPRI. Farther Finance Advisors LLC boosted its stake in shares of Capri by 758.1% during the first quarter. Farther Finance Advisors LLC now owns 1,433 shares of the company's stock valued at $28,000 after purchasing an additional 1,266 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Capri in the first quarter worth about $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Capri in the first quarter worth about $30,000. Quantbot Technologies LP purchased a new stake in Capri in the second quarter worth about $39,000. Finally, CWM LLC lifted its stake in Capri by 37.2% in the second quarter. CWM LLC now owns 2,360 shares of the company's stock worth $42,000 after acquiring an additional 640 shares during the period. 84.34% of the stock is owned by hedge funds and other 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.

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