Capri (NYSE:CPRI) Upgraded at BTIG Research

Key Points

• Capri Holdings received a "strong-buy" rating upgrade from BTIG Research, indicating increased confidence in the company's stock performance.
• Several brokerages like UBS and JPMorgan also raised their price targets, with JPMorgan increasing it from $21.00 to $30.00.
• Capri reported earnings of $0.50 per share for the recent quarter, exceeding expectations and marking an increase from $0.04 per share in the same quarter last year.

Capri (NYSE:CPRI - Get Free Report) was upgraded by investment analysts at BTIG Research to a "strong-buy" rating in a research note issued on Tuesday,Zacks.com reports.

Several other brokerages also recently issued reports on CPRI. UBS Group raised their price target on Capri from $18.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. upgraded Capri from a "neutral" rating to an "overweight" rating and raised their target price for the company from $21.00 to $30.00 in a research note on Wednesday, August 13th. Zacks Research upgraded shares of Capri from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $22.00 price objective (up previously from $20.00) on shares of Capri in a report on Wednesday, August 6th. Finally, Wall Street Zen upgraded shares of Capri from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Capri presently has a consensus rating of "Hold" and a consensus price target of $24.54.

Capri Trading Up 4.0%

NYSE CPRI opened at $20.82 on Tuesday. The company has a debt-to-equity ratio of 3.97, a quick ratio of 0.61 and a current ratio of 1.17. Capri has a one year low of $11.86 and a one year high of $43.15. The company has a 50-day simple moving average of $20.75 and a 200-day simple moving average of $18.39. The firm has a market capitalization of $2.48 billion, a PE ratio of -2.21, a price-to-earnings-growth ratio of 0.43 and a beta of 1.82.

Capri (NYSE:CPRI - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $797.00 million for the quarter, compared to analysts' expectations of $773.18 million. During the same quarter last year, the company posted $0.04 earnings per share. Capri's revenue was down 6.0% on a year-over-year basis. On average, equities analysts forecast that Capri will post 0.98 earnings per share for the current year.

Hedge Funds Weigh In On Capri

A number of institutional investors and hedge funds have recently bought and sold shares of CPRI. CWM LLC lifted its stake in shares of Capri by 37.2% in the 2nd 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. PNC Financial Services Group Inc. raised its holdings in Capri by 5.7% during the first quarter. PNC Financial Services Group Inc. now owns 12,320 shares of the company's stock worth $243,000 after purchasing an additional 667 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Capri by 3.9% during the second quarter. Teacher Retirement System of Texas now owns 17,906 shares of the company's stock worth $317,000 after purchasing an additional 671 shares in the last quarter. Principal Financial Group Inc. lifted its position in Capri by 0.3% in the first 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 period. Finally, California State Teachers Retirement System boosted its stake in Capri by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 108,789 shares of the company's stock valued at $1,926,000 after purchasing an additional 734 shares in the last quarter. 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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