Capri (NYSE:CPRI) Price Target Cut to $72.00 by Analysts at Citigroup

Capri (NYSE:CPRI – Get Rating) had its target price decreased by research analysts at Citigroup from $82.00 to $72.00 in a report released on Thursday, The Fly reports. Citigroup’s price objective suggests a potential upside of 46.13% from the company’s previous close.

A number of other research analysts also recently issued reports on CPRI. Bank of America upped their price target on Capri from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, February 3rd. UBS Group upped their price target on Capri from $99.00 to $107.00 in a research report on Thursday, February 3rd. StockNews.com cut Capri from a “buy” rating to a “hold” rating in a research report on Friday, May 27th. Robert W. Baird reduced their price target on Capri from $85.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Cowen dropped their price objective on Capri from $80.00 to $70.00 in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Capri presently has an average rating of “Buy” and an average target price of $75.61.

Shares of CPRI opened at $49.27 on Thursday. Capri has a 12-month low of $36.90 and a 12-month high of $72.37. The business’s fifty day moving average is $47.52 and its 200 day moving average is $56.60. The company has a quick ratio of 0.62, a current ratio of 1.18 and a debt-to-equity ratio of 0.35. The stock has a market cap of $7.27 billion, a P/E ratio of 13.65, a P/E/G ratio of 0.14 and a beta of 2.30.

Capri (NYSE:CPRI – Get Rating) last posted its quarterly earnings results on Wednesday, June 1st. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.20. Capri had a return on equity of 34.22% and a net margin of 10.41%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the company earned $0.38 EPS. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, analysts expect that Capri will post 6 EPS for the current year.

Capri announced that its board has approved a stock buyback program on Wednesday, June 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 13.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

In other Capri news, SVP Daniel Purefoy sold 1,950 shares of the business’s stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $50.80, for a total transaction of $99,060.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in shares of Capri by 0.4% during the third quarter. Arizona State Retirement System now owns 41,220 shares of the company’s stock worth $1,995,000 after buying an additional 162 shares during the period. Profund Advisors LLC boosted its stake in shares of Capri by 2.3% during the fourth quarter. Profund Advisors LLC now owns 8,031 shares of the company’s stock worth $521,000 after buying an additional 183 shares during the period. US Bancorp DE boosted its holdings in Capri by 6.2% in the 3rd quarter. US Bancorp DE now owns 3,204 shares of the company’s stock valued at $155,000 after purchasing an additional 187 shares in the last quarter. Utah Retirement Systems boosted its holdings in Capri by 2.7% in the 3rd quarter. Utah Retirement Systems now owns 7,700 shares of the company’s stock valued at $373,000 after purchasing an additional 200 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Capri by 14.6% during the 4th quarter. Fifth Third Bancorp now owns 1,840 shares of the company’s stock valued at $119,000 after acquiring an additional 234 shares during the period. 88.46% of the stock is currently owned by institutional investors and hedge funds.

Capri Company Profile (Get Rating)

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. The company's Versace segment offers ready-to-wear, accessories, footwear, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques; and department and specialty stores, as well as through Versace e-commerce sites.

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