Capri (NYSE:CPRI) Rating Lowered to Sell at Wall Street Zen

Capri (NYSE:CPRI - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Sunday.

CPRI has been the topic of a number of other reports. Barclays reduced their price objective on shares of Capri from $19.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company reduced their target price on shares of Capri from $30.00 to $25.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. reduced their target price on shares of Capri from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $20.00 target price (up from $17.00) on shares of Capri in a research report on Wednesday, May 28th. Finally, UBS Group raised their target price on shares of Capri from $14.00 to $18.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. One equities research 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, the company presently has an average rating of "Hold" and a consensus target price of $22.50.

Capri Price Performance

Capri stock traded down $0.11 during mid-day trading on Friday, hitting $18.58. The stock had a trading volume of 2,269,195 shares, compared to its average volume of 3,529,499. The firm has a market capitalization of $2.19 billion, a P/E ratio of -1.87, a P/E/G ratio of 0.40 and a beta of 1.67. The company has a current ratio of 1.14, a quick ratio of 0.49 and a debt-to-equity ratio of 3.97. The firm's 50 day moving average is $17.75 and its 200 day moving average is $19.19. Capri has a one year low of $11.86 and a one year high of $43.34.

Capri (NYSE:CPRI - Get Free Report) last issued its earnings results on Wednesday, May 28th. The company reported ($4.90) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($5.12). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $989.05 million. Capri had a negative return on equity of 39.55% and a negative net margin of 26.61%. The company's quarterly revenue was down 15.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. On average, sell-side analysts forecast that Capri will post 0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Capri

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Capri by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 11,377,630 shares of the company's stock worth $239,613,000 after purchasing an additional 151,866 shares during the last quarter. Norges Bank purchased a new position in Capri in the fourth quarter worth $58,070,000. Primecap Management Co. CA grew its holdings in Capri by 13.2% in the fourth quarter. Primecap Management Co. CA now owns 4,688,333 shares of the company's stock worth $98,736,000 after purchasing an additional 547,578 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Capri in the first quarter worth $30,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Capri during the fourth quarter worth $2,167,000. 84.34% of the stock is owned by hedge funds and other institutional investors.

Capri Company Profile

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.