Capri (NYSE:CPRI) Upgraded at Zacks Investment Research

Capri (NYSE:CPRI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage presently has a $38.00 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 5.35% from the company’s previous close.

According to Zacks, “Shares of Capri Holdings have increased and outpaced the industry in the past three months. The company’s constant effort to expand product offerings and contain costs along with focus on e-commerce platform and accretive buyouts bode well. Notably, the company retained fiscal 2020 view following second-quarter results, wherein both revenues and earnings per share fell short of the Zacks Consensus Estimate. While the top line sustained year-over-year improvement, bottom line continued to struggle. Management now envisions mid-single digit growth in third-quarter revenues with earnings likely to decline year over year. However, for the final quarter, Capri Holdings projects earnings per share to double from prior-year period on account of 500 basis points expansion in operating margin benefiting from higher margin across all brands.”

Several other research analysts have also recently weighed in on CPRI. Barclays initiated coverage on shares of Capri in a report on Tuesday, November 12th. They issued an “equal weight” rating and a $37.00 price target for the company. Guggenheim upgraded shares of Capri from a “neutral” rating to a “buy” rating in a report on Wednesday, November 6th. ValuEngine upgraded shares of Capri from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Wells Fargo & Co upgraded shares of Capri from an “equal weight” rating to an “overweight” rating and set a $47.00 price target for the company in a report on Thursday, January 2nd. Finally, Jefferies Financial Group upped their price target on shares of Capri from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $52.50.

NYSE CPRI traded down $0.27 during trading on Tuesday, reaching $36.07. 134,239 shares of the stock traded hands, compared to its average volume of 1,749,811. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 7.27, a price-to-earnings-growth ratio of 1.51 and a beta of 0.88. The stock’s 50-day moving average price is $37.59 and its 200 day moving average price is $33.57. The company has a quick ratio of 0.46, a current ratio of 1.05 and a debt-to-equity ratio of 1.48. Capri has a fifty-two week low of $25.25 and a fifty-two week high of $50.00.

Capri (NYSE:CPRI) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.25 by ($0.09). The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. Capri had a net margin of 6.04% and a return on equity of 28.91%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. Analysts anticipate that Capri will post 4.89 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CHICAGO TRUST Co NA boosted its holdings in Capri by 18.6% during the fourth quarter. CHICAGO TRUST Co NA now owns 8,300 shares of the company’s stock worth $317,000 after purchasing an additional 1,300 shares during the last quarter. DNB Asset Management AS boosted its holdings in Capri by 24.6% during the fourth quarter. DNB Asset Management AS now owns 18,544 shares of the company’s stock worth $707,000 after purchasing an additional 3,666 shares during the last quarter. Maverick Capital Ltd. boosted its holdings in Capri by 11.3% during the third quarter. Maverick Capital Ltd. now owns 125,826 shares of the company’s stock worth $4,172,000 after purchasing an additional 12,726 shares during the last quarter. Man Group plc boosted its holdings in Capri by 219.9% during the third quarter. Man Group plc now owns 53,414 shares of the company’s stock worth $1,771,000 after purchasing an additional 36,715 shares during the last quarter. Finally, PointState Capital LP acquired a new position in Capri during the third quarter worth $4,351,000. Institutional investors and hedge funds own 91.07% of the company’s stock.

Capri Company Profile

Capri Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

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Analyst Recommendations for Capri (NYSE:CPRI)

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