Capri (NYSE:CPRI) Upgraded at Wells Fargo & Company

Capri (NYSE:CPRI) was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Tuesday, Marketbeat Ratings reports. The firm presently has a $43.00 price target on the stock, down from their previous price target of $57.00. Wells Fargo & Company‘s price objective would suggest a potential upside of 36.38% from the company’s current price.

CPRI has been the subject of a number of other research reports. StockNews.com initiated coverage on shares of Capri in a research note on Saturday, April 13th. They set a “hold” rating for the company. Jefferies Financial Group dropped their price target on shares of Capri from $57.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, May 30th. Telsey Advisory Group reissued a “market perform” rating and set a $42.00 price objective on shares of Capri in a report on Thursday, May 30th. OTR Global reaffirmed a “mixed” rating on shares of Capri in a research report on Wednesday, April 17th. Finally, Citigroup upgraded Capri from a “neutral” rating to a “buy” rating and cut their price objective for the company from $56.00 to $41.00 in a research note on Monday, June 17th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $47.75.

Capri Trading Up 0.7 %

NYSE:CPRI opened at $31.53 on Tuesday. The company has a quick ratio of 0.44, a current ratio of 0.95 and a debt-to-equity ratio of 0.79. The stock has a fifty day simple moving average of $34.84 and a 200-day simple moving average of $43.03. Capri has a 52-week low of $30.79 and a 52-week high of $54.52. The company has a market capitalization of $3.68 billion, a PE ratio of -16.00, a price-to-earnings-growth ratio of 3.17 and a beta of 2.00.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in Capri in the 4th quarter valued at approximately $166,766,000. Alpine Associates Management Inc. increased its stake in Capri by 0.3% during the 4th quarter. Alpine Associates Management Inc. now owns 2,447,800 shares of the company’s stock valued at $122,977,000 after buying an additional 8,200 shares during the period. Westchester Capital Management LLC raised its position in shares of Capri by 31.5% during the 4th quarter. Westchester Capital Management LLC now owns 2,184,170 shares of the company’s stock worth $109,733,000 after buying an additional 523,796 shares in the last quarter. TIG Advisors LLC increased its stake in shares of Capri by 9.3% during the fourth quarter. TIG Advisors LLC now owns 1,863,562 shares of the company’s stock valued at $93,625,000 after acquiring an additional 158,303 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Capri by 82.8% during the fourth quarter. Franklin Resources Inc. now owns 1,669,441 shares of the company’s stock worth $83,873,000 after purchasing an additional 756,425 shares in the last quarter. Institutional investors own 84.34% of the company’s stock.

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.