Capri (NYSE:CPRI) Price Target Cut to $22.00 by Analysts at JPMorgan Chase & Co.

Capri (NYSE:CPRI) had its price objective reduced by JPMorgan Chase & Co. from $57.00 to $22.00 in a report released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other equities research analysts also recently weighed in on CPRI. UBS Group reduced their target price on shares of Capri from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Wells Fargo & Company reduced their price objective on shares of Capri from $42.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday. Citigroup lowered Capri from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research report on Friday, September 13th. StockNews.com cut Capri from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Finally, Telsey Advisory Group decreased their price target on Capri from $42.00 to $26.00 and set a “market perform” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, Capri presently has a consensus rating of “Hold” and an average target price of $31.50.

Capri Stock Down 48.9 %

Shares of NYSE CPRI opened at $21.26 on Friday. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of -8.54, a P/E/G ratio of 6.93 and a beta of 1.97. Capri has a 12-month low of $20.99 and a 12-month high of $51.46. The company has a current ratio of 0.95, a quick ratio of 0.41 and a debt-to-equity ratio of 0.79. The firm’s 50-day moving average price is $38.74 and its 200-day moving average price 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 analysts’ consensus estimates of $0.59 by ($0.55). The company had revenue of $1.07 billion for 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 company’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter last year, the company earned $0.74 earnings per share. On average, equities research analysts anticipate that Capri will post 2.12 EPS for the current fiscal year.

Institutional Trading of Capri

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in Capri during the 1st quarter valued at $1,283,000. State of Michigan Retirement System increased its stake in shares of Capri by 2.9% during the first quarter. State of Michigan Retirement System now owns 28,665 shares of the company’s stock valued at $1,299,000 after buying an additional 800 shares during the period. Silverlake Wealth Management LLC bought a new stake in shares of Capri in the first quarter valued at about $1,153,000. Fortis Group Advisors LLC lifted its stake in Capri by 211.4% in the first quarter. Fortis Group Advisors LLC now owns 24,464 shares of the company’s stock worth $1,108,000 after acquiring an additional 16,608 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in Capri by 0.6% during the 1st quarter. Retirement Systems of Alabama now owns 146,379 shares of the company’s stock worth $6,631,000 after acquiring an additional 818 shares in the last quarter. 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.