Wells Fargo & Company Downgrades Capri (NYSE:CPRI) to Equal Weight

Capri (NYSE:CPRI) was downgraded by stock analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $42.00 target price on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 0.02% from the stock’s current price.

CPRI has been the subject of a number of other research reports. Citigroup lowered Capri from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a research note on Friday, September 13th. StockNews.com lowered Capri from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Finally, UBS Group dropped their price target on Capri from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, Capri has a consensus rating of “Hold” and an average target price of $40.40.

Capri Stock Performance

NYSE:CPRI opened at $41.99 on Thursday. The firm has a market cap of $4.90 billion, a PE ratio of -21.31, a price-to-earnings-growth ratio of 7.08 and a beta of 1.97. Capri has a fifty-two week low of $29.28 and a fifty-two week high of $51.73. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.41 and a current ratio of 0.95. The business has a 50 day moving average price of $38.03 and a 200-day moving average price of $36.18.

Capri (NYSE:CPRI) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.55). The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Capri had a negative net margin of 5.81% and a positive return on equity of 18.72%. The business’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period last year, the company posted $0.74 EPS. Equities research analysts predict that Capri will post 2.12 earnings per share for the current year.

Hedge Funds Weigh In On Capri

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aristides Capital LLC purchased a new position in Capri during the second quarter valued at $1,865,000. State Board of Administration of Florida Retirement System lifted its position in Capri by 17.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 155,580 shares of the company’s stock valued at $7,312,000 after buying an additional 23,294 shares during the period. Nomura Holdings Inc. purchased a new position in Capri during the fourth quarter valued at $1,533,000. Gabelli Funds LLC increased its holdings in shares of Capri by 7.1% during the first quarter. Gabelli Funds LLC now owns 504,599 shares of the company’s stock valued at $22,858,000 after acquiring an additional 33,550 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Capri during the first quarter valued at $1,283,000. Hedge funds and other institutional investors own 84.34% of the company’s stock.

Capri Company Profile

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.