Capri (NYSE:CPRI) Shares Gap Down After Earnings Miss

Capri Holdings Limited (NYSE:CPRI) shares gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $24.03, but opened at $22.44. Capri shares last traded at $21.09, with a volume of 822,867 shares.

The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.27). Capri had a negative net margin of 7.44% and a positive return on equity of 16.54%. During the same period in the prior year, the firm posted $1.20 earnings per share.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. BMO Capital Markets upgraded shares of Capri from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $25.00 to $31.00 in a report on Monday, January 6th. Jefferies Financial Group boosted their price objective on shares of Capri from $20.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, January 28th. TD Cowen decreased their target price on shares of Capri from $57.00 to $22.00 and set a “hold” rating for the company in a research note on Friday, November 15th. Guggenheim raised shares of Capri from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a report on Tuesday, November 26th. Finally, Citigroup raised shares of Capri from a “neutral” rating to a “buy” rating and increased their price objective for the company from $21.00 to $29.00 in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $26.36.

Institutional Investors Weigh In On Capri

Several institutional investors have recently bought and sold shares of CPRI. Truist Financial Corp acquired a new stake in shares of Capri during the second quarter worth $429,000. SG Americas Securities LLC lifted its stake in shares of Capri by 17.2% during the third quarter. SG Americas Securities LLC now owns 56,437 shares of the company’s stock worth $2,395,000 after buying an additional 8,288 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Capri by 47.3% during the third quarter. Handelsbanken Fonder AB now owns 34,900 shares of the company’s stock worth $1,481,000 after buying an additional 11,200 shares during the period. CWM LLC raised its holdings in shares of Capri by 26.9% during the third quarter. CWM LLC now owns 3,112 shares of the company’s stock worth $132,000 after purchasing an additional 660 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Capri by 13,982.7% during the third quarter. Exchange Traded Concepts LLC now owns 21,124 shares of the company’s stock worth $897,000 after purchasing an additional 20,974 shares during the last quarter. 84.34% of the stock is currently owned by institutional investors and hedge funds.

Capri Trading Down 14.4 %

The company has a debt-to-equity ratio of 0.83, a current ratio of 0.93 and a quick ratio of 0.38. The company’s fifty day moving average is $22.72 and its 200-day moving average is $29.39. The stock has a market cap of $2.43 billion, a PE ratio of -6.89, a PEG ratio of 5.76 and a beta of 2.06.

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.