Capri (NYSE:CPRI) Shares Gap Down on Analyst Downgrade

Shares of Capri Holdings Limited (NYSE:CPRI) gapped down before the market opened on Friday after Robert W. Baird lowered their price target on the stock from $24.00 to $23.00. The stock had previously closed at $21.99, but opened at $20.09. Robert W. Baird currently has a neutral rating on the stock. Capri shares last traded at $19.82, with a volume of 2,629,595 shares trading hands.

Other research analysts have also issued research reports about the stock. StockNews.com lowered shares of Capri from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. UBS Group cut their price objective on Capri from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $26.00 target price on shares of Capri in a report on Friday, November 1st. Wells Fargo & Company dropped their price target on Capri from $42.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Capri from $57.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $30.29.

Institutional Investors Weigh In On Capri

Several institutional investors and hedge funds have recently bought and sold shares of CPRI. Baupost Group LLC MA acquired a new stake in Capri in the 2nd quarter valued at $33,080,000. DME Capital Management LP acquired a new stake in shares of Capri in the 2nd quarter valued at $22,652,000. Khrom Capital Management LLC bought a new stake in shares of Capri in the 1st quarter worth about $17,681,000. Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of Capri during the 1st quarter worth about $13,008,000. Finally, Clearline Capital LP bought a new position in Capri during the 2nd quarter valued at about $9,362,000. Institutional investors own 84.34% of the company’s stock.

Capri Trading Down 6.7 %

The stock’s 50-day simple moving average is $35.84 and its 200 day simple moving average is $34.62. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.41.

Capri (NYSE:CPRI) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.55). The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.16 billion. Capri had a positive return on equity of 18.72% and a negative net margin of 5.81%. The firm’s revenue was down 13.2% on a year-over-year basis. During the same quarter last year, the company earned $0.74 earnings per share. Research analysts predict that Capri Holdings Limited will post 2.05 earnings per share for the current fiscal year.

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.