Telsey Advisory Group Reaffirms Market Perform Rating for Capri (NYSE:CPRI)

Telsey Advisory Group restated their market perform rating on shares of Capri (NYSE:CPRI) in a report released on Friday morning, Benzinga reports. The firm currently has a $26.00 price target on the stock.

Several other brokerages also recently issued reports on CPRI. UBS Group cut their target price on shares of Capri from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. JPMorgan Chase & Co. reduced their target price on Capri from $57.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. StockNews.com lowered Capri from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. Wells Fargo & Company cut their price target on Capri from $42.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Finally, Citigroup downgraded shares of Capri from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.50.

Capri Stock Performance

CPRI opened at $20.14 on Friday. The business’s 50-day simple moving average is $37.01 and its 200 day simple moving average is $35.05. Capri has a 52-week low of $18.75 and a 52-week high of $51.23. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.41 and a current ratio of 0.95. The firm has a market capitalization of $2.37 billion, a PE ratio of -8.09, a PEG ratio of 3.37 and a beta of 2.05.

Capri (NYSE:CPRI) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.55). Capri had a negative net margin of 5.81% and a positive return on equity of 18.72%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company posted $0.74 EPS. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. As a group, sell-side analysts expect that Capri will post 2.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Capri

Several institutional investors and hedge funds have recently modified their holdings of the business. Riverwater Partners LLC acquired a new position in Capri in the 3rd quarter valued at $1,030,000. Aristides Capital LLC bought a new position in shares of Capri in the second quarter worth $1,865,000. State Board of Administration of Florida Retirement System lifted its position in Capri by 17.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 155,580 shares of the company’s stock worth $7,312,000 after purchasing an additional 23,294 shares during the period. Fortis Group Advisors LLC acquired a new stake in Capri during the third quarter worth about $2,149,000. Finally, Gabelli Funds LLC increased its holdings in Capri by 7.1% in the 1st quarter. Gabelli Funds LLC now owns 504,599 shares of the company’s stock valued at $22,858,000 after buying an additional 33,550 shares during the period. 84.34% of the stock is currently owned by institutional investors and hedge funds.

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.