Capri (NYSE:CPRI) PT Lowered to $23.00 at Wells Fargo & Company

Capri (NYSE:CPRI) had its target price reduced by Wells Fargo & Company from $42.00 to $23.00 in a research note issued to investors on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other equities research analysts also recently issued reports on CPRI. Telsey Advisory Group lowered their price target on shares of Capri from $42.00 to $26.00 and set a “market perform” rating on the stock in a report on Friday. UBS Group cut their price target on shares of Capri from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Citigroup lowered shares of Capri from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a research report on Friday, September 13th. Finally, StockNews.com downgraded Capri from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.50.

Capri Stock Down 48.9 %

CPRI opened at $21.26 on Friday. Capri has a 12 month low of $20.99 and a 12 month high of $51.46. The company has a market cap of $2.50 billion, a PE ratio of -8.54, a price-to-earnings-growth ratio of 6.93 and a beta of 1.97. The company has a current ratio of 0.95, a quick ratio of 0.41 and a debt-to-equity ratio of 0.79. The company has a 50 day moving average of $38.74 and a 200 day moving average of $35.84.

Capri (NYSE:CPRI) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.55). Capri had a positive return on equity of 18.72% and a negative net margin of 5.81%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned $0.74 earnings per share. Capri’s revenue was down 13.2% on a year-over-year basis. On average, sell-side analysts expect that Capri will post 2.12 EPS for the current year.

Institutional Investors Weigh In On Capri

Large investors have recently added to or reduced their stakes in the company. Riverwater Partners LLC purchased a new position in shares of Capri in the 3rd quarter worth about $1,030,000. Aristides Capital LLC purchased a new stake in Capri in the second quarter worth approximately $1,865,000. State Board of Administration of Florida Retirement System grew 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 valued at $7,312,000 after acquiring an additional 23,294 shares during the last quarter. Fortis Group Advisors LLC purchased a new position in shares of Capri during the third quarter worth approximately $2,149,000. Finally, Gabelli Funds LLC lifted its holdings in shares of Capri by 7.1% in the 1st quarter. Gabelli Funds LLC now owns 504,599 shares of the company’s stock worth $22,858,000 after acquiring an additional 33,550 shares during the last quarter. Hedge funds and other 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.