Barclays Has Lowered Expectations for Capri (NYSE:CPRI) Stock Price

Capri (NYSE:CPRI) had its price target lowered by equities researchers at Barclays from $32.00 to $24.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 20.82% from the stock’s previous close.

A number of other research analysts also recently weighed in on CPRI. Robert W. Baird upgraded shares of Capri from a “neutral” rating to an “outperform” rating and set a $26.00 price target on the stock in a report on Wednesday, February 4th. TD Cowen restated a “buy” rating on shares of Capri in a report on Wednesday, February 4th. Guggenheim upgraded shares of Capri to a “strong-buy” rating in a report on Wednesday, December 10th. Sanford C. Bernstein restated a “market perform” rating and set a $24.00 price target on shares of Capri in a report on Tuesday, January 6th. Finally, BTIG Research restated a “buy” rating and set a $30.00 price target on shares of Capri in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Capri currently has an average rating of “Hold” and an average target price of $25.85.

Capri Trading Up 2.1%

Shares of NYSE:CPRI opened at $19.87 on Wednesday. The firm has a fifty day moving average of $19.34 and a two-hundred day moving average of $21.95. The firm has a market capitalization of $2.37 billion, a P/E ratio of -4.66, a price-to-earnings-growth ratio of 0.30 and a beta of 1.46. Capri has a 12-month low of $13.00 and a 12-month high of $28.26. The company has a quick ratio of 0.52, a current ratio of 1.14 and a debt-to-equity ratio of 2.07.

Capri (NYSE:CPRI) last issued its earnings results on Wednesday, February 4th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $999.84 million. Capri had a negative net margin of 13.57% and a negative return on equity of 430.23%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. On average, equities analysts expect that Capri will post 0.98 EPS for the current fiscal year.

Insider Transactions at Capri

In related news, CEO John D. Idol purchased 55,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were bought at an average cost of $17.98 per share, for a total transaction of $988,900.00. Following the transaction, the chief executive officer directly owned 2,257,645 shares of the company’s stock, valued at approximately $40,592,457.10. This trade represents a 2.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of Capri

Several hedge funds and other institutional investors have recently bought and sold shares of CPRI. Arrowstreet Capital Limited Partnership acquired a new stake in Capri in the 4th quarter worth $53,759,000. Norges Bank acquired a new stake in Capri in the 4th quarter worth $50,228,000. Cartenna Capital LP acquired a new stake in Capri in the 3rd quarter worth $29,382,000. State Street Corp boosted its position in shares of Capri by 19.3% during the 2nd quarter. State Street Corp now owns 4,479,231 shares of the company’s stock valued at $79,282,000 after acquiring an additional 724,967 shares in the last quarter. Finally, Rubric Capital Management LP acquired a new stake in shares of Capri during the 4th quarter valued at about $16,470,000. 84.34% of the stock is currently owned by institutional investors and hedge funds.

About Capri

Capri Holdings Limited (NYSE: CPRI) is a global luxury fashion company that designs, markets and distributes a range of premium lifestyle products. The company’s principal brands—Michael Kors, Versace and Jimmy Choo—offer handbags, ready-to-wear apparel, footwear, watches, jewelry, fragrance and other accessories. Capri Holdings combines in-house design talent with international sourcing, manufacturing and retail operations to deliver collections that reflect each brand’s distinct heritage and aesthetic vision.

Formed in 2018 through the rebranding of Michael Kors Holdings following the acquisition of Versace, Capri has since integrated Jimmy Choo into its portfolio.