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

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

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

Capri Stock Performance

NYSE:CPRI opened at $21.26 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.41 and a current ratio of 0.95. Capri has a fifty-two week low of $20.99 and a fifty-two week high of $51.46. The firm 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 business has a 50 day moving average price of $38.74 and a 200-day moving average price of $35.84.

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

Hedge Funds Weigh In On Capri

A number of institutional investors have recently added to or reduced their stakes in CPRI. Riverwater Partners LLC purchased a new stake in shares of Capri in the 3rd quarter worth about $1,030,000. Aristides Capital LLC purchased a new position in Capri during the 2nd quarter valued at about $1,865,000. State Board of Administration of Florida Retirement System boosted its stake 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 acquiring an additional 23,294 shares in the last quarter. Fortis Group Advisors LLC purchased a new stake in Capri in the third quarter worth about $2,149,000. Finally, Gabelli Funds LLC increased its stake in shares of Capri by 7.1% during the first quarter. Gabelli Funds LLC now owns 504,599 shares of the company’s stock valued at $22,858,000 after purchasing an additional 33,550 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.