Zacks Research Upgrades Capri (NYSE:CPRI) to Hold

Key Points

• Zacks Research upgraded Capri from a "strong sell" rating to a "hold" rating, reflecting a shift in analysts' perspective on the stock.
• Recent reports from various analysts, including UBS and JPMorgan Chase, have resulted in upgraded price targets for Capri, indicating increased optimism about its market performance.
• Despite a decline in revenue year-over-year, Capri reported earnings per share of $0.50 for the quarter, significantly beating the consensus estimate of $0.13.

Zacks Research upgraded shares of Capri (NYSE:CPRI - Free Report) from a strong sell rating to a hold rating in a report issued on Tuesday, August 26th,Zacks.com reports.

CPRI has been the topic of a number of other research reports. UBS Group increased their price objective on Capri from $18.00 to $23.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Telsey Advisory Group reiterated 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. Wall Street Zen upgraded Capri from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, JPMorgan Chase & Co. upgraded Capri from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $21.00 to $30.00 in a report on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $24.08.

Capri Stock Down 1.5%

NYSE CPRI traded down $0.30 during trading hours on Tuesday, hitting $20.29. 880,673 shares of the company were exchanged, compared to its average volume of 3,594,065. The company has a 50 day moving average of $19.45 and a two-hundred day moving average of $18.44. The company has a quick ratio of 0.61, a current ratio of 1.17 and a debt-to-equity ratio of 3.97. Capri has a 52-week low of $11.86 and a 52-week high of $43.34. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -2.16, a PEG ratio of 0.44 and a beta of 1.75.

Capri (NYSE:CPRI - Get Free Report) last issued 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 return on equity of 53.50% and a negative net margin of 26.73%.The company had revenue of $797.00 million for the quarter, compared to the consensus estimate of $773.18 million. During the same quarter in the prior year, the business earned $0.04 EPS. Capri's revenue was down 6.0% on a year-over-year basis. Equities research analysts anticipate that Capri will post 0.98 earnings per share for the current year.

Institutional Trading of Capri

Hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its holdings in shares of Capri by 758.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,433 shares of the company's stock valued at $28,000 after buying an additional 1,266 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of Capri in the 1st quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Capri in the 1st quarter valued at approximately $30,000. UMB Bank n.a. lifted its holdings in shares of Capri by 134.9% in the 1st quarter. UMB Bank n.a. now owns 1,776 shares of the company's stock valued at $35,000 after buying an additional 1,020 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Capri in the 2nd quarter valued at approximately $39,000. 84.34% of the stock is owned by institutional investors and hedge funds.

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.