Capri (NYSE:CPRI) Shares Gap Up – Time to Buy?

Capri Holdings Limited (NYSE:CPRI)’s stock price gapped up before the market opened on Friday. The stock had previously closed at $16.06, but opened at $17.75. Capri shares last traded at $18.7440, with a volume of 1,933,271 shares changing hands.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wall Street Zen upgraded shares of Capri from a “hold” rating to a “buy” rating in a research report on Saturday, September 5th. Wells Fargo & Company reduced their target price on Capri from $20.00 to $16.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 15th. Raymond James Financial raised Capri from an “outperform” rating to a “strong-buy” rating and set a $20.00 price target for the company in a report on Friday, October 16th. Telsey Advisory Group dropped their price objective on Capri from $21.00 to $18.00 and set a “market perform” rating for the company in a research report on Thursday, August 6th. Finally, BTIG Research reduced their price objective on Capri from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $21.80.

Capri Stock Performance

The company has a debt-to-equity ratio of 2.27, a current ratio of 1.19 and a quick ratio of 0.54. The company’s 50-day moving average price is $14.53 and its two-hundred day moving average price is $17.94. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 0.33 and a beta of 1.35.

Capri (NYSE:CPRI) last announced its quarterly earnings data on Saturday, October 31st. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.21 by $0.21. Capri had a net margin of 4.44% and a return on equity of 297.36%. The company had revenue of $809.00 million during the quarter, compared to the consensus estimate of $786.55 million. During the same quarter last year, the firm posted ($0.03) EPS. The company’s quarterly revenue was down 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Capri Holdings Limited will post 2.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Capri

Several hedge funds and other institutional investors have recently modified their holdings of CPRI. Measured Wealth Private Client Group LLC raised its position in Capri by 299.7% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 1,523 shares of the company’s stock valued at $27,000 after purchasing an additional 1,142 shares during the last quarter. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Capri during the 3rd quarter valued at about $47,000. Sterling Capital Management LLC grew its holdings in Capri by 804.7% during the 3rd quarter. Sterling Capital Management LLC now owns 3,818 shares of the company’s stock valued at $54,000 after buying an additional 3,396 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Capri by 14.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,303 shares of the company’s stock worth $105,000 after acquiring an additional 555 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Capri during the 1st quarter worth $190,000. 84.34% of the stock is currently owned by institutional investors.

Capri Company Profile

Capri Holdings Limited (NYSE: CPRI) is a global fashion and luxury goods company headquartered in London. The company designs, develops, markets and distributes luxury apparel, footwear, handbags, accessories, watches, jewelry and fragrances through its portfolio of fashion brands.

Capri’s principal brands are Michael Kors, Versace and Jimmy Choo. Michael Kors offers a broad range of fashion and lifestyle products, including handbags, footwear, apparel, watches and accessories. Versace is known for luxury clothing, accessories, footwear, home products and fragrances, while Jimmy Choo specializes in luxury footwear, handbags, accessories and fragrances.

The company sells its products through directly operated retail stores, e-commerce platforms, wholesale partners, department stores, specialty retailers and other distribution channels.