Capri (NYSE:CPRI) Upgraded to Buy at Citigroup

Citigroup upgraded shares of Capri (NYSE:CPRI) from a neutral rating to a buy rating in a report released on Monday, MarketBeat reports. The brokerage currently has $41.00 price objective on the stock, down from their previous price objective of $56.00.

Several other research firms have also weighed in on CPRI. Jefferies Financial Group reduced their price objective on Capri from $57.00 to $38.00 and set a hold rating on the stock in a research note on Thursday, May 30th. OTR Global reaffirmed a mixed rating on shares of Capri in a report on Wednesday, April 17th. Telsey Advisory Group reissued a market perform rating and issued a $42.00 price objective on shares of Capri in a research note on Thursday, May 30th. Finally, StockNews.com began coverage on shares of Capri in a research note on Saturday, April 13th. They set a hold rating on the stock. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Capri presently has an average rating of Hold and an average price target of $49.50.

Capri Price Performance

Shares of NYSE:CPRI opened at $30.95 on Monday. The firm has a 50 day moving average of $35.15 and a 200-day moving average of $43.34. Capri has a 12 month low of $30.91 and a 12 month high of $54.52. The company has a current ratio of 0.95, a quick ratio of 0.44 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $3.61 billion, a PE ratio of -15.71, a PEG ratio of 3.21 and a beta of 2.00.

Capri (NYSE:CPRI) last announced its quarterly earnings data on Wednesday, May 29th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the business earned $0.97 earnings per share. The business’s revenue was down 8.4% compared to the same quarter last year. On average, equities research analysts predict that Capri will post 3.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Private Wealth Management Group LLC bought a new stake in shares of Capri in the 4th quarter valued at about $25,000. Quent Capital LLC boosted its holdings in Capri by 171.8% in the first quarter. Quent Capital LLC now owns 1,120 shares of the company’s stock valued at $51,000 after acquiring an additional 708 shares during the last quarter. Bessemer Group Inc. increased its position in Capri by 82.4% during the 1st quarter. Bessemer Group Inc. now owns 1,330 shares of the company’s stock valued at $60,000 after purchasing an additional 601 shares during the period. Vima LLC bought a new position in Capri during the 4th quarter worth approximately $70,000. Finally, U S Global Investors Inc. acquired a new position in shares of Capri in the 4th quarter worth approximately $75,000. 84.34% of the stock is owned by institutional investors.

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.