Capri (NYSE:CPRI) Raised to “Overweight” at Wells Fargo & Company

Capri (NYSE:CPRI) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Tuesday, Marketbeat reports. The brokerage presently has a $43.00 price objective on the stock, down from their previous price objective of $57.00. Wells Fargo & Company‘s target price indicates a potential upside of 33.17% from the company’s previous close.

A number of other research firms also recently commented on CPRI. OTR Global restated a “mixed” rating on shares of Capri in a report on Wednesday, April 17th. Jefferies Financial Group cut their price target on shares of Capri from $57.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. Telsey Advisory Group reiterated a “market perform” rating and issued a $42.00 price objective on shares of Capri in a report on Thursday, May 30th. Citigroup upgraded Capri from a “neutral” rating to a “buy” rating and cut their target price for the company from $56.00 to $41.00 in a report on Monday, June 17th. Finally, StockNews.com assumed coverage on Capri in a report on Saturday, April 13th. They set a “hold” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $47.75.

Capri Trading Up 1.2 %

Shares of NYSE:CPRI opened at $32.29 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.44 and a current ratio of 0.95. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of -16.39, a PEG ratio of 3.23 and a beta of 2.00. Capri has a 1-year low of $30.79 and a 1-year high of $54.52. The company has a 50 day moving average price of $34.58 and a 200 day moving average price of $42.84.

Capri (NYSE:CPRI) last announced its earnings results on Wednesday, May 29th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.30). Capri had a negative net margin of 4.43% and a positive return on equity of 22.76%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the firm earned $0.97 earnings per share. Capri’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, research analysts anticipate that Capri will post 3.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Capri

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Capri during the fourth quarter valued at about $166,766,000. Franklin Resources Inc. raised its stake in Capri by 82.8% during the 4th quarter. Franklin Resources Inc. now owns 1,669,441 shares of the company’s stock worth $83,873,000 after buying an additional 756,425 shares during the period. KRYGER CAPITAL Ltd acquired a new position in Capri during the 3rd quarter worth approximately $35,642,000. Hudson Bay Capital Management LP bought a new position in Capri in the third quarter worth approximately $32,893,000. Finally, Westchester Capital Management LLC grew its stake in Capri by 31.5% in the fourth quarter. Westchester Capital Management LLC now owns 2,184,170 shares of the company’s stock valued at $109,733,000 after acquiring an additional 523,796 shares during the period. Institutional investors own 84.34% of the company’s stock.

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.