Capri (NYSE:CPRI) Price Target Cut to $24.00 by Analysts at Robert W. Baird

Capri (NYSE:CPRI) had its price objective cut by equities research analysts at Robert W. Baird from $26.00 to $24.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 55.53% from the stock’s previous close.

Several other equities research analysts also recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Capri from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, May 28th. Bank of America dropped their price target on shares of Capri from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, May 28th. Raymond James Financial reiterated an “outperform” rating and issued a $22.00 price target on shares of Capri in a research note on Thursday, May 28th. Weiss Ratings raised shares of Capri from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, May 28th. Finally, BTIG Research restated a “buy” rating and set a $30.00 price objective on shares of Capri in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Capri has an average rating of “Hold” and a consensus target price of $24.07.

Capri Trading Down 0.1%

NYSE CPRI opened at $15.43 on Monday. Capri has a 12 month low of $15.19 and a 12 month high of $28.26. The company has a current ratio of 1.21, a quick ratio of 0.60 and a debt-to-equity ratio of 4.08. The stock’s fifty day moving average price is $18.48 and its 200-day moving average price is $19.76. The stock has a market cap of $1.77 billion, a P/E ratio of 13.54, a P/E/G ratio of 0.28 and a beta of 1.39.

Capri (NYSE:CPRI) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11. The company had revenue of $796.00 million for the quarter, compared to analysts’ expectations of $800.04 million. Capri had a net margin of 3.94% and a return on equity of 664.22%. Capri’s revenue was down 23.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($4.90) EPS. As a group, equities analysts forecast that Capri will post 2.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Capri news, Director Stephen F. Reitman sold 17,981 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $19.42, for a total transaction of $349,191.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Measured Wealth Private Client Group LLC raised its stake in Capri by 299.7% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 1,523 shares of the company’s stock worth $27,000 after acquiring an additional 1,142 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Capri in the second quarter worth $39,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Capri by 273.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,236 shares of the company’s stock worth $55,000 after purchasing an additional 1,638 shares in the last quarter. MidFirst Bank bought a new stake in shares of Capri during the 4th quarter valued at $77,000. Finally, Hantz Financial Services Inc. raised its position in shares of Capri by 57.9% during the 4th quarter. Hantz Financial Services Inc. now owns 4,266 shares of the company’s stock valued at $104,000 after purchasing an additional 1,565 shares during the period. 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.