Capri (NYSE:CPRI) Upgraded by Citigroup to Buy Rating

Citigroup upgraded shares of Capri (NYSE:CPRI) from a neutral rating to a buy rating in a research note published on Friday, Marketbeat.com reports. They currently have $29.00 price target on the stock, up from their prior price target of $21.00.

CPRI has been the subject of several other reports. JPMorgan Chase & Co. lifted their price objective on Capri from $15.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Wells Fargo & Company upgraded shares of Capri from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $20.00 to $28.00 in a research note on Friday. Telsey Advisory Group lowered their price target on Capri from $26.00 to $23.00 and set a “market perform” rating for the company in a report on Friday, November 15th. BMO Capital Markets raised Capri from a “market perform” rating to an “outperform” rating and upped their target price for the company from $25.00 to $31.00 in a research report on Monday, January 6th. Finally, Barclays reissued an “equal weight” rating and set a $21.00 price target on shares of Capri in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $27.55.

Capri Trading Up 10.3 %

CPRI opened at $23.72 on Friday. Capri has a 52 week low of $18.70 and a 52 week high of $51.23. The company has a market capitalization of $2.80 billion, a P/E ratio of -7.75, a PEG ratio of 4.55 and a beta of 2.06. The stock’s fifty day moving average is $21.35 and its two-hundred day moving average is $30.62. The company has a quick ratio of 0.38, a current ratio of 0.93 and a debt-to-equity ratio of 0.83.

Institutional Investors Weigh In On Capri

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPRI. Oddo BHF Asset Management Sas purchased a new stake in shares of Capri during the third quarter worth about $25,888,000. Rule One Partners LLC acquired a new position in shares of Capri during the third quarter valued at approximately $2,483,000. Sunbelt Securities Inc. purchased a new position in shares of Capri in the third quarter valued at approximately $42,000. Geode Capital Management LLC boosted its stake in shares of Capri by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,942,145 shares of the company’s stock worth $82,446,000 after acquiring an additional 41,009 shares during the last quarter. Finally, M&T Bank Corp increased its position in shares of Capri by 21.5% during the third quarter. M&T Bank Corp now owns 8,419 shares of the company’s stock worth $357,000 after purchasing an additional 1,488 shares in the last quarter. Hedge funds and other 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.