Capri (NYSE:CPRI) Reaches New 52-Week Low – Here’s What Happened

Capri Holdings Limited (NYSE:CPRI)’s share price hit a new 52-week low on Thursday . The company traded as low as $19.15 and last traded at $19.23, with a volume of 207708 shares changing hands. The stock had previously closed at $19.46.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CPRI shares. Wells Fargo & Company decreased their target price on Capri from $42.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $26.00 price objective on shares of Capri in a report on Friday. Citigroup cut shares of Capri from a “buy” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research report on Friday, September 13th. JPMorgan Chase & Co. lowered their price objective on shares of Capri from $57.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, StockNews.com downgraded shares of Capri from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, Capri has a consensus rating of “Hold” and a consensus target price of $31.50.

Capri Stock Up 1.9 %

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 company’s fifty day moving average price is $37.63 and its 200-day moving average price is $35.35. The stock has a market cap of $2.37 billion, a P/E ratio of -8.08, a price-to-earnings-growth ratio of 3.32 and a beta of 1.97.

Capri (NYSE:CPRI) last announced its earnings results on Thursday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the firm earned $0.74 EPS. The firm’s quarterly revenue was down 13.2% on a year-over-year basis. Equities analysts forecast that Capri Holdings Limited will post 2.05 EPS for the current year.

Institutional Trading of Capri

Several institutional investors and hedge funds have recently made changes to their positions in the business. Riverwater Partners LLC purchased a new position in Capri in the 3rd quarter worth about $1,030,000. Aristides Capital LLC purchased a new position in shares of Capri during the second quarter worth approximately $1,865,000. State Board of Administration of Florida Retirement System raised its stake in shares of 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 acquiring an additional 23,294 shares in the last quarter. Fortis Group Advisors LLC purchased a new stake in shares of Capri in the third quarter valued at approximately $2,149,000. Finally, Gabelli Funds LLC grew its stake in Capri by 7.1% in the first quarter. Gabelli Funds LLC now owns 504,599 shares of the company’s stock worth $22,858,000 after purchasing an additional 33,550 shares in the last quarter. 84.34% of the stock is currently 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.