Wells Fargo & Company Issues Positive Forecast for Capri (NYSE:CPRI) Stock Price

Capri (NYSE:CPRI) had its price target lifted by Wells Fargo & Company from $28.00 to $30.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts also recently commented on CPRI. JPMorgan Chase & Co. increased their price target on Capri from $15.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Barclays reissued an “equal weight” rating and set a $21.00 price target on shares of Capri in a research report on Wednesday, November 20th. Citigroup raised shares of Capri from a “neutral” rating to a “buy” rating and upped their price target for the company from $21.00 to $29.00 in a report on Friday, January 10th. BMO Capital Markets raised shares of Capri from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $25.00 to $31.00 in a report on Monday, January 6th. Finally, Telsey Advisory Group cut their target price on shares of Capri from $26.00 to $23.00 and set a “market perform” rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Capri has an average rating of “Hold” and an average price target of $27.73.

Capri Stock Performance

Capri stock opened at $25.32 on Monday. The firm has a market capitalization of $2.98 billion, a PE ratio of -8.27, a price-to-earnings-growth ratio of 5.20 and a beta of 2.06. Capri has a one year low of $18.70 and a one year high of $49.43. The stock’s 50 day moving average price is $22.21 and its 200 day moving average price is $29.81. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.38 and a current ratio of 0.93.

Capri (NYSE:CPRI) last posted its earnings results on Thursday, November 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.17 billion. Capri had a positive return on equity of 16.54% and a negative net margin of 7.44%. During the same period in the previous year, the firm posted $1.13 earnings per share. As a group, sell-side analysts expect that Capri will post 1.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Capri

Several institutional investors have recently modified their holdings of CPRI. Dynamic Technology Lab Private Ltd acquired a new stake in Capri in the 3rd quarter valued at approximately $224,000. Riverwater Partners LLC acquired a new position in shares of Capri during the third quarter valued at $1,030,000. Senvest Management LLC bought a new stake in shares of Capri during the third quarter valued at about $6,610,000. Primecap Management Co. CA lifted its holdings in Capri by 14.2% in the third quarter. Primecap Management Co. CA now owns 4,140,755 shares of the company’s stock worth $175,734,000 after purchasing an additional 515,963 shares during the period. Finally, Anthracite Investment Company Inc. bought a new position in Capri in the 3rd quarter valued at about $7,869,000. 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.