Capri (NYSE:CPRI) Shares Gap Down – Here’s Why

Capri Holdings Limited (NYSE:CPRI) gapped down before the market opened on Tuesday . The stock had previously closed at $19.73, but opened at $19.20. Capri shares last traded at $19.50, with a volume of 450,390 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CPRI shares. Wells Fargo & Company lifted their price objective on shares of Capri from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Citigroup upgraded Capri from a “neutral” rating to a “buy” rating and lifted their price target for the company from $21.00 to $29.00 in a report on Friday, January 10th. StockNews.com upgraded Capri from a “sell” rating to a “hold” rating in a research note on Friday, February 7th. Telsey Advisory Group reiterated a “market perform” rating and issued a $23.00 target price on shares of Capri in a research note on Thursday, February 20th. Finally, BMO Capital Markets raised shares of Capri from a “market perform” rating to an “outperform” rating and increased their price target for the company from $25.00 to $31.00 in a research report on Monday, January 6th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Capri has an average rating of “Hold” and an average target price of $25.92.

Capri Stock Up 1.0 %

The stock has a market capitalization of $2.35 billion, a PE ratio of -2.33, a price-to-earnings-growth ratio of 7.80 and a beta of 2.10. The company has a current ratio of 1.21, a quick ratio of 0.59 and a debt-to-equity ratio of 1.36. The company’s 50-day moving average is $22.09 and its 200 day moving average is $25.86.

Capri (NYSE:CPRI) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.27). Capri had a positive return on equity of 12.89% and a negative net margin of 21.79%. During the same quarter in the previous year, the firm posted $1.20 earnings per share. As a group, analysts anticipate that Capri Holdings Limited will post 0.98 EPS for the current year.

Institutional Trading of Capri

Several large investors have recently added to or reduced their stakes in CPRI. Sunbelt Securities Inc. acquired a new stake in shares of Capri during the third quarter worth about $42,000. Twin Tree Management LP purchased a new position in Capri during the 4th quarter worth approximately $45,000. Quarry LP purchased a new position in Capri during the 3rd quarter worth approximately $53,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Capri in the 4th quarter valued at $74,000. Finally, KBC Group NV increased its stake in shares of Capri by 63.9% in the fourth quarter. KBC Group NV now owns 5,039 shares of the company’s stock worth $106,000 after acquiring an additional 1,965 shares during the period. 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.