Capri (NYSE:CPRI) Shares Gap Down After Analyst Downgrade

Shares of Capri Holdings Limited (NYSE:CPRI - Get Free Report) gapped down before the market opened on Friday after Robert W. Baird lowered their price target on the stock from $24.00 to $23.00. The stock had previously closed at $21.99, but opened at $20.09. Robert W. Baird currently has a neutral rating on the stock. Capri shares last traded at $19.82, with a volume of 2,629,595 shares.

Several other research firms also recently weighed in on CPRI. UBS Group decreased their price objective on Capri from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Wednesday, September 11th. Wells Fargo & Company decreased their price target on shares of Capri from $42.00 to $23.00 and set an "equal weight" rating for the company in a research note on Friday, October 25th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $26.00 target price on shares of Capri in a report on Friday, November 1st. JPMorgan Chase & Co. lowered their price target on Capri from $57.00 to $22.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. Finally, Citigroup downgraded Capri from a "buy" rating to a "neutral" rating and set a $41.00 price objective for the company. in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $30.29.

Hedge Funds Weigh In On Capri

Large investors have recently modified their holdings of the business. Texas Permanent School Fund Corp raised its position in Capri by 1.6% in the first quarter. Texas Permanent School Fund Corp now owns 102,018 shares of the company's stock worth $4,621,000 after acquiring an additional 1,619 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Capri by 82.2% in the 1st quarter. SG Americas Securities LLC now owns 83,135 shares of the company's stock valued at $3,766,000 after purchasing an additional 37,508 shares in the last quarter. Swiss National Bank lifted its stake in shares of Capri by 0.3% in the first quarter. Swiss National Bank now owns 229,500 shares of the company's stock valued at $10,396,000 after purchasing an additional 600 shares during the period. Ardent Capital Management Inc. boosted its holdings in Capri by 242.6% during the first quarter. Ardent Capital Management Inc. now owns 34,255 shares of the company's stock worth $1,552,000 after buying an additional 24,255 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Capri during the first quarter worth about $117,000. 84.34% of the stock is owned by hedge funds and other institutional investors.

Capri Stock Performance

The stock's fifty day simple moving average is $36.15 and its 200-day simple moving average is $34.74. 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 company has a market capitalization of $2.42 billion, a PE ratio of -8.02, a PEG ratio of 3.44 and a beta of 2.05.

Capri (NYSE:CPRI - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.55). The firm 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%. The business's revenue for the quarter was down 13.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 earnings per share. On average, research analysts predict that Capri Holdings Limited will post 2.05 earnings per share for the current fiscal year.

Capri Company Profile

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.