Capri (NYSE:CPRI) Stock Price Down 4% on Analyst Downgrade

Capri Holdings Limited (NYSE:CPRI) shares were down 4% on Thursday after UBS Group lowered their price target on the stock from $42.00 to $39.00. UBS Group currently has a neutral rating on the stock. Capri traded as low as $38.57 and last traded at $38.84. Approximately 1,373,797 shares changed hands during trading, an increase of 5% from the average daily volume of 1,304,383 shares. The stock had previously closed at $40.46.

A number of other research analysts have also weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of Capri from $57.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, May 30th. StockNews.com cut Capri from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Citigroup raised shares of Capri from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $56.00 to $41.00 in a research report on Monday, June 17th. Telsey Advisory Group restated a “market perform” rating and issued a $42.00 price objective on shares of Capri in a report on Thursday, May 30th. Finally, Wells Fargo & Company lowered their price objective on Capri from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $40.40.

Hedge Funds Weigh In On Capri

Hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. raised its position in Capri by 206.4% during the 4th quarter. Victory Capital Management Inc. now owns 23,954 shares of the company’s stock valued at $1,203,000 after purchasing an additional 16,135 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Capri by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,153,144 shares of the company’s stock valued at $57,934,000 after purchasing an additional 25,105 shares during the period. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Capri in the 4th quarter valued at about $201,000. Moran Wealth Management LLC lifted its position in shares of Capri by 121.4% in the 4th quarter. Moran Wealth Management LLC now owns 42,736 shares of the company’s stock worth $2,147,000 after purchasing an additional 23,436 shares during the period. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Capri in the 4th quarter worth approximately $25,000. Institutional investors own 84.34% of the company’s stock.

Capri Trading Down 4.0 %

The stock has a market capitalization of $4.53 billion, a P/E ratio of -20.18, a P/E/G ratio of 5.73 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. The stock’s 50 day moving average price is $34.10 and its 200-day moving average price is $37.07.

Capri (NYSE:CPRI) last posted its earnings results 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%. Capri’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. As a group, equities research analysts expect that Capri Holdings Limited will post 2.12 earnings per share for the current year.

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.