Capri (NYSE:CPRI) Stock Rating Upgraded by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Capri (NYSE:CPRI) from an equal weight rating to an overweight rating in a report published on Tuesday morning, MarketBeat reports. Wells Fargo & Company currently has $43.00 target price on the stock, down from their prior target price of $57.00.

Several other equities research analysts have also recently weighed in on the company. StockNews.com assumed coverage on Capri in a research note on Saturday, April 13th. They issued a hold rating for the company. Telsey Advisory Group restated a market perform rating and set a $42.00 price target on shares of Capri in a report on Thursday, May 30th. Citigroup raised shares of Capri from a neutral rating to a buy rating and reduced their price objective for the company from $56.00 to $41.00 in a research note on Monday, June 17th. OTR Global reissued a mixed rating on shares of Capri in a research note on Wednesday, April 17th. Finally, Jefferies Financial Group cut their price target on shares of Capri from $57.00 to $38.00 and set a hold rating on the stock in a research report on Thursday, May 30th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $47.75.

Capri Stock Up 1.9 %

Shares of NYSE CPRI opened at $33.08 on Tuesday. Capri has a 1 year low of $30.79 and a 1 year high of $54.52. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.44. The firm has a market cap of $3.86 billion, a PE ratio of -16.79, a price-to-earnings-growth ratio of 3.27 and a beta of 2.00. The company has a 50 day simple moving average of $34.37 and a 200 day simple moving average of $42.66.

Capri (NYSE:CPRI) last released its quarterly earnings results on Wednesday, May 29th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.30). Capri had a negative net margin of 4.43% and a positive return on equity of 22.76%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the business posted $0.97 EPS. Capri’s revenue was down 8.4% on a year-over-year basis. On average, research analysts forecast that Capri will post 3.45 EPS for the current year.

Institutional Trading of Capri

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC lifted its holdings in Capri by 259.7% during the third quarter. Hsbc Holdings PLC now owns 132,638 shares of the company’s stock worth $6,991,000 after acquiring an additional 95,763 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in shares of Capri in the third quarter worth about $261,000. Tower Research Capital LLC TRC boosted its holdings in Capri by 38.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 18,931 shares of the company’s stock worth $996,000 after buying an additional 5,293 shares during the period. Bank of Nova Scotia grew its stake in Capri by 11.4% in the 3rd quarter. Bank of Nova Scotia now owns 593,136 shares of the company’s stock valued at $31,205,000 after buying an additional 60,760 shares in the last quarter. Finally, Alpine Global Management LLC bought a new stake in Capri during the 3rd quarter valued at $1,315,000. 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.