Capri (NYSE:CPRI) Trading 5.4% Higher - Here's Why

Capri Holdings Limited (NYSE:CPRI - Get Free Report)'s share price traded up 5.4% on Thursday . The stock traded as high as $20.49 and last traded at $20.53. 1,402,581 shares were traded during trading, a decline of 59% from the average session volume of 3,390,020 shares. The stock had previously closed at $19.48.

Wall Street Analyst Weigh In

CPRI has been the subject of several recent research reports. Bank of America initiated coverage on shares of Capri in a report on Monday, February 10th. They set a "neutral" rating and a $23.00 target price for the company. BMO Capital Markets upgraded shares of Capri from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $25.00 to $31.00 in a report on Monday, January 6th. Jefferies Financial Group lifted their target price on shares of Capri from $20.00 to $23.00 and gave the company a "hold" rating in a report on Tuesday, January 28th. Barclays lowered their target price on shares of Capri from $21.00 to $19.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Finally, Wells Fargo & Company lifted their target price on shares of Capri from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Monday, January 27th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $25.92.

Remove Ads

Capri Stock Performance

The firm has a market capitalization of $2.49 billion, a PE ratio of -2.47, a price-to-earnings-growth ratio of 7.80 and a beta of 2.10. The company has a current ratio of 1.21, a quick ratio of 0.59 and a debt-to-equity ratio of 1.36. The business's 50 day simple moving average is $22.58 and its two-hundred day simple moving average is $27.10.

Capri (NYSE:CPRI - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.72 by ($0.27). Capri had a negative net margin of 21.79% and a positive return on equity of 12.89%. During the same quarter in the previous year, the business earned $1.20 EPS. Research analysts expect that Capri Holdings Limited will post 0.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Capri

Hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new stake in shares of Capri during the 3rd quarter valued at $224,000. Senvest Management LLC bought a new stake in shares of Capri during the 3rd quarter valued at $6,610,000. Primecap Management Co. CA grew its position in shares of Capri by 14.2% during the 3rd quarter. Primecap Management Co. CA now owns 4,140,755 shares of the company's stock valued at $175,734,000 after acquiring an additional 515,963 shares during the period. Anthracite Investment Company Inc. bought a new position in Capri in the 3rd quarter worth $7,869,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Capri by 76.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 321,834 shares of the company's stock worth $13,659,000 after buying an additional 139,063 shares during the period. Institutional investors own 84.34% of the company's stock.

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.