Barclays Has Lowered Expectations for Capri (NYSE:CPRI) Stock Price

Capri (NYSE:CPRI) had its price target dropped by equities researchers at Barclays from $32.00 to $24.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 21.55% from the company’s previous close.

A number of other analysts also recently issued reports on CPRI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Capri in a research note on Wednesday, January 21st. BTIG Research restated a “buy” rating and set a $30.00 price objective on shares of Capri in a research note on Friday, January 30th. Wells Fargo & Company reduced their target price on Capri from $27.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 4th. Sanford C. Bernstein reissued a “market perform” rating and issued a $24.00 price objective on shares of Capri in a report on Tuesday, January 6th. Finally, The Goldman Sachs Group lowered their target price on Capri from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.85.

Capri Stock Performance

Shares of Capri stock traded up $1.33 during trading on Wednesday, hitting $19.75. 816,133 shares of the company’s stock traded hands, compared to its average volume of 3,112,768. The stock has a market capitalization of $2.35 billion, a P/E ratio of -4.62, a PEG ratio of 0.28 and a beta of 1.46. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.14 and a quick ratio of 0.52. The business has a 50-day simple moving average of $19.47 and a 200-day simple moving average of $21.98. Capri has a 1 year low of $11.86 and a 1 year high of $28.26.

Capri (NYSE:CPRI) last announced its earnings results on Wednesday, February 4th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.03. Capri had a negative return on equity of 430.23% and a negative net margin of 13.57%.The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $999.84 million. During the same period last year, the firm posted $0.63 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. As a group, analysts forecast that Capri will post 0.98 EPS for the current year.

Insider Activity at Capri

In other news, CEO John D. Idol acquired 55,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was acquired at an average cost of $17.98 per share, for a total transaction of $988,900.00. Following the acquisition, the chief executive officer directly owned 2,257,645 shares in the company, valued at approximately $40,592,457.10. This represents a 2.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Capri

A number of institutional investors and hedge funds have recently made changes to their positions in CPRI. Royal Bank of Canada increased its holdings in shares of Capri by 70.0% during the 1st quarter. Royal Bank of Canada now owns 380,838 shares of the company’s stock worth $7,514,000 after buying an additional 156,757 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in Capri by 48.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 20,120 shares of the company’s stock valued at $397,000 after purchasing an additional 6,595 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Capri by 13.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,034 shares of the company’s stock valued at $218,000 after purchasing an additional 1,313 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Capri by 22.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 764,509 shares of the company’s stock valued at $15,084,000 after purchasing an additional 139,809 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Capri by 23.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 422,561 shares of the company’s stock valued at $8,337,000 after purchasing an additional 80,928 shares in the last quarter. 84.34% of the stock is currently owned by institutional investors and hedge funds.

About Capri

Capri Holdings Limited (NYSE: CPRI) is a global luxury fashion company that designs, markets and distributes a range of premium lifestyle products. The company’s principal brands—Michael Kors, Versace and Jimmy Choo—offer handbags, ready-to-wear apparel, footwear, watches, jewelry, fragrance and other accessories. Capri Holdings combines in-house design talent with international sourcing, manufacturing and retail operations to deliver collections that reflect each brand’s distinct heritage and aesthetic vision.

Formed in 2018 through the rebranding of Michael Kors Holdings following the acquisition of Versace, Capri has since integrated Jimmy Choo into its portfolio.