Robert W. Baird Issues Pessimistic Forecast for Capri (NYSE:CPRI) Stock Price

Capri (NYSE:CPRI) had its price objective decreased by stock analysts at Robert W. Baird from $24.00 to $23.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 12.09% from the stock’s previous close.

CPRI has been the topic of a number of other reports. UBS Group reduced their price objective on shares of Capri from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. StockNews.com cut shares of Capri from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Wells Fargo & Company reduced their price objective on shares of Capri from $42.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $26.00 price objective on shares of Capri in a research note on Friday, November 1st. Finally, Citigroup lowered shares of Capri from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.29.

Capri Price Performance

CPRI opened at $20.52 on Friday. Capri has a one year low of $18.75 and a one year high of $51.23. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.41. The company’s 50 day simple moving average is $35.84 and its 200-day simple moving average is $34.61. The stock has a market capitalization of $2.42 billion, a P/E ratio of -8.24, a price-to-earnings-growth ratio of 3.75 and a beta of 2.05.

Capri (NYSE:CPRI) last announced its quarterly earnings data 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). Capri had a negative net margin of 5.81% and a positive return on equity of 18.72%. The business 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 posted $0.74 earnings per share. Capri’s revenue was down 13.2% compared to the same quarter last year. Sell-side analysts anticipate that Capri will post 2.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Capri

Several hedge funds have recently bought and sold shares of CPRI. Primecap Management Co. CA raised its holdings in shares of Capri by 14.2% during the third quarter. Primecap Management Co. CA now owns 4,140,755 shares of the company’s stock worth $175,734,000 after acquiring an additional 515,963 shares during the period. Cedar Wealth Management LLC acquired a new stake in shares of Capri during the third quarter worth $957,000. Anthracite Investment Company Inc. acquired a new stake in shares of Capri during the third quarter worth $7,869,000. Avior Wealth Management LLC raised its holdings in shares of Capri by 15.2% during the third quarter. Avior Wealth Management LLC now owns 4,033 shares of the company’s stock worth $171,000 after acquiring an additional 533 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of Capri by 63.2% during the third quarter. Empowered Funds LLC now owns 23,941 shares of the company’s stock worth $1,016,000 after acquiring an additional 9,275 shares during the period. 84.34% of the stock is currently owned by institutional investors and hedge funds.

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.