Barclays Has Lowered Expectations for Capri (NYSE:CPRI) Stock Price

Capri (NYSE:CPRI) had its target price cut by stock analysts at Barclays from $32.00 to $24.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 21.55% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Guggenheim raised shares of Capri to a “strong-buy” rating in a research report on Wednesday, December 10th. Telsey Advisory Group reiterated a “market perform” rating and set a $23.00 price objective on shares of Capri in a research report on Tuesday, February 3rd. Wells Fargo & Company reduced their target price on Capri from $27.00 to $21.00 and set an “equal weight” rating for the company in a report on Wednesday, February 4th. UBS Group reaffirmed a “neutral” rating and issued a $22.00 target price on shares of Capri in a research report on Wednesday, February 4th. Finally, Citigroup upgraded Capri from a “buy” rating to a “mixed” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Capri currently has a consensus rating of “Hold” and an average target price of $25.85.

Capri Price Performance

CPRI stock traded up $1.33 during trading hours on Wednesday, hitting $19.75. 816,133 shares of the stock traded hands, compared to its average volume of 3,112,768. Capri has a one year low of $11.86 and a one year high of $28.26. The company has a current ratio of 1.14, a quick ratio of 0.52 and a debt-to-equity ratio of 2.07. The company has a market cap of $2.35 billion, a P/E ratio of -4.62, a P/E/G ratio of 0.28 and a beta of 1.46. The stock has a 50-day simple moving average of $19.47 and a 200 day simple moving average of $21.98.

Capri (NYSE:CPRI) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.03. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $999.84 million. Capri had a negative net margin of 13.57% and a negative return on equity of 430.23%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. Equities analysts forecast that Capri will post 0.98 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO John D. Idol acquired 55,000 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were acquired at an average cost of $17.98 per share, for a total transaction of $988,900.00. Following the purchase, the chief executive officer owned 2,257,645 shares in the company, valued at approximately $40,592,457.10. The trade was a 2.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Capri

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. raised its stake in Capri by 105.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 127,029 shares of the company’s stock valued at $2,530,000 after acquiring an additional 65,259 shares during the period. Federated Hermes Inc. grew its holdings in Capri by 107.1% during the 3rd quarter. Federated Hermes Inc. now owns 719,109 shares of the company’s stock valued at $14,325,000 after buying an additional 371,903 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Capri by 1,363.5% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 74,053 shares of the company’s stock valued at $1,475,000 after buying an additional 68,993 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Capri during the 4th quarter valued at about $13,527,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Capri during the 3rd quarter valued at about $2,173,000. 84.34% of the stock is currently owned by institutional investors.

About Capri

Capri Holdings Limited (NYSE: CPRI) is a global luxury fashion company that designs, markets and distributes a range of premium lifestyle products. The company’s principal brands—Michael Kors, Versace and Jimmy Choo—offer handbags, ready-to-wear apparel, footwear, watches, jewelry, fragrance and other accessories. Capri Holdings combines in-house design talent with international sourcing, manufacturing and retail operations to deliver collections that reflect each brand’s distinct heritage and aesthetic vision.

Formed in 2018 through the rebranding of Michael Kors Holdings following the acquisition of Versace, Capri has since integrated Jimmy Choo into its portfolio.