Capri (NYSE:CPRI) Upgraded to Overweight at JPMorgan Chase & Co.

Key Points

• Capri Holdings was upgraded by JPMorgan Chase & Co. from a "neutral" to an "overweight" rating, with a new price target of $30.00, indicating a potential upside of 53.14% from its previous close.
• The company's earnings per share (EPS) for the last quarter was $0.50, surpassing analyst expectations significantly, despite a year-over-year revenue decline of 6%.
• Institutional investors own 84.34% of Capri's stock, with several large firms increasing their stakes, reflecting strong confidence in the company's future prospects.

Capri (NYSE:CPRI - Get Free Report) was upgraded by equities researchers at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $30.00 price objective on the stock, up from their previous price objective of $21.00. JPMorgan Chase & Co.'s target price would suggest a potential upside of 40.32% from the stock's current price.

A number of other research firms also recently weighed in on CPRI. Telsey Advisory Group reissued a "market perform" rating and set a $22.00 target price (up from $20.00) on shares of Capri in a research report on Wednesday, August 6th. Wall Street Zen raised Capri from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, UBS Group lifted their target price on Capri from $18.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Capri has a consensus rating of "Hold" and a consensus target price of $24.08.

Capri Stock Performance

Shares of NYSE:CPRI traded down $0.65 during midday trading on Wednesday, hitting $21.38. The company's stock had a trading volume of 3,125,446 shares, compared to its average volume of 3,682,998. Capri has a fifty-two week low of $11.86 and a fifty-two week high of $43.34. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -2.27, a PEG ratio of 0.46 and a beta of 1.72. The stock's 50 day simple moving average is $18.56 and its 200 day simple moving average is $18.71. 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 (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, topping analysts' consensus estimates 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 business had revenue of $797.00 million for the quarter, compared to the consensus estimate of $773.18 million. During the same period last year, the business earned $0.04 earnings per share. The firm's revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, research analysts anticipate that Capri will post 0.98 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its stake in Capri by 758.1% during the first quarter. Farther Finance Advisors LLC now owns 1,433 shares of the company's stock worth $28,000 after purchasing an additional 1,266 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Capri in the first quarter valued at approximately $30,000. Banque Cantonale Vaudoise bought a new position in shares of Capri in the first quarter valued at approximately $29,000. UMB Bank n.a. raised its stake in shares of Capri by 134.9% in the first quarter. UMB Bank n.a. now owns 1,776 shares of the company's stock valued at $35,000 after acquiring an additional 1,020 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Capri in the second quarter valued at approximately $39,000. 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.