Capri (NYSE:CPRI) Raised to Buy at Citigroup

Capri (NYSE:CPRI) was upgraded by analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat.com reports. The brokerage presently has a $29.00 price objective on the stock, up from their previous price objective of $21.00. Citigroup’s price objective would indicate a potential upside of 22.26% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Telsey Advisory Group reduced their target price on shares of Capri from $26.00 to $23.00 and set a “market perform” rating for the company in a report on Friday, November 15th. Guggenheim raised shares of Capri from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, November 26th. JPMorgan Chase & Co. lifted their target price on shares of Capri from $15.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. TD Cowen cut their price target on Capri from $57.00 to $22.00 and set a “hold” rating for the company in a research note on Friday, November 15th. Finally, Wells Fargo & Company upgraded Capri from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $20.00 to $28.00 in a research report on Friday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.55.

Capri Stock Performance

NYSE:CPRI opened at $23.72 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.38 and a current ratio of 0.93. The stock has a 50-day simple moving average of $21.42 and a two-hundred day simple moving average of $30.56. The firm has a market capitalization of $2.80 billion, a PE ratio of -7.75, a P/E/G ratio of 4.55 and a beta of 2.06. Capri has a 52-week low of $18.70 and a 52-week high of $51.23.

Institutional Trading of Capri

Large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its position in shares of Capri by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 32,633 shares of the company’s stock valued at $1,080,000 after buying an additional 693 shares in the last quarter. Texas Permanent School Fund Corp raised its position in Capri by 13.0% during the second quarter. Texas Permanent School Fund Corp now owns 115,305 shares of the company’s stock valued at $3,814,000 after purchasing an additional 13,287 shares during the period. Headlands Technologies LLC lifted its stake in shares of Capri by 231.5% in the 2nd quarter. Headlands Technologies LLC now owns 8,596 shares of the company’s stock valued at $284,000 after purchasing an additional 6,003 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Capri by 34.4% in the 2nd quarter. Federated Hermes Inc. now owns 13,172 shares of the company’s stock worth $436,000 after purchasing an additional 3,370 shares during the period. Finally, WINTON GROUP Ltd bought a new position in shares of Capri during the 2nd quarter valued at approximately $2,226,000. 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.