Capri (NYSE:CPRI) Given New $23.00 Price Target at Wells Fargo & Company

Capri (NYSE:CPRI) had its price target lowered by Wells Fargo & Company from $42.00 to $23.00 in a research note published on Friday, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities analysts have also recently weighed in on CPRI. UBS Group lowered their price objective on shares of Capri from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. StockNews.com lowered Capri from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. Telsey Advisory Group cut their price objective on Capri from $42.00 to $26.00 and set a “market perform” rating on the stock in a report on Friday. Finally, Citigroup cut Capri from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.50.

Capri Price Performance

NYSE:CPRI opened at $21.26 on Friday. The company has a market capitalization of $2.50 billion, a P/E ratio of -8.54, a P/E/G ratio of 6.93 and a beta of 1.97. The company has a quick ratio of 0.41, a current ratio of 0.95 and a debt-to-equity ratio of 0.79. Capri has a 52 week low of $20.99 and a 52 week high of $51.46. The stock’s fifty day moving average is $38.74 and its two-hundred day moving average is $35.95.

Capri (NYSE:CPRI) last issued its quarterly earnings data 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). The company had revenue of $1.07 billion during 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 firm’s quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share. Equities analysts expect that Capri will post 2.12 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CPRI. Quent Capital LLC boosted its stake in shares of Capri by 171.8% in the 1st quarter. Quent Capital LLC now owns 1,120 shares of the company’s stock valued at $51,000 after buying an additional 708 shares during the period. Bessemer Group Inc. lifted its stake in Capri by 82.4% in the first quarter. Bessemer Group Inc. now owns 1,330 shares of the company’s stock worth $60,000 after acquiring an additional 601 shares during the last quarter. CWM LLC lifted its stake in Capri by 35.2% in the second quarter. CWM LLC now owns 2,452 shares of the company’s stock worth $81,000 after acquiring an additional 638 shares during the last quarter. Signaturefd LLC grew its holdings in Capri by 14.7% during the 2nd quarter. Signaturefd LLC now owns 2,734 shares of the company’s stock worth $90,000 after acquiring an additional 351 shares in the last quarter. Finally, EMC Capital Management increased its position in shares of Capri by 32.7% in the 1st quarter. EMC Capital Management now owns 2,421 shares of the company’s stock valued at $110,000 after purchasing an additional 596 shares during the last quarter. 84.34% of the stock is 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.