Capri (NYSE:CPRI) Price Target Lowered to $63.00 at Barclays

Capri (NYSE:CPRIGet Rating) had its price objective decreased by equities research analysts at Barclays from $74.00 to $63.00 in a report released on Thursday, The Fly reports. Barclays‘s price objective suggests a potential upside of 27.87% from the stock’s previous close.

Several other analysts have also issued reports on CPRI. Telsey Advisory Group reiterated a “market perform” rating on shares of Capri in a research note on Thursday, May 26th. Wells Fargo & Company reduced their target price on shares of Capri from $95.00 to $85.00 and set an “overweight” rating for the company in a research note on Tuesday, April 5th. Credit Suisse Group reduced their target price on shares of Capri from $74.00 to $65.00 in a research note on Thursday. Bank of America upped their target price on shares of Capri from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, February 3rd. Finally, BTIG Research upped their target price on shares of Capri from $95.00 to $99.00 and gave the stock a “buy” rating in a research note on Thursday, February 3rd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Capri currently has a consensus rating of “Buy” and an average target price of $75.44.

Shares of CPRI stock opened at $49.27 on Thursday. The firm has a market capitalization of $7.27 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 0.14 and a beta of 2.30. The firm has a fifty day simple moving average of $47.52 and a two-hundred day simple moving average of $56.60. The company has a current ratio of 1.18, a quick ratio of 0.62 and a debt-to-equity ratio of 0.35. Capri has a 12 month low of $36.90 and a 12 month high of $72.37.

Capri (NYSE:CPRIGet Rating) last announced its quarterly earnings results on Wednesday, June 1st. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.20. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.41 billion. Capri had a net margin of 10.41% and a return on equity of 34.22%. Capri’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 EPS. On average, equities analysts predict that Capri will post 6 earnings per share for the current fiscal year.

Capri announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 13.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In other news, SVP Daniel Purefoy sold 1,950 shares of the stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $50.80, for a total value of $99,060.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in CPRI. Counterpoint Mutual Funds LLC bought a new position in Capri during the fourth quarter valued at approximately $27,000. Sageworth Trust Co of South Dakota bought a new position in Capri during the fourth quarter valued at approximately $34,000. National Bank of Canada FI bought a new position in Capri during the fourth quarter valued at approximately $43,000. Edmond DE Rothschild Holding S.A. bought a new position in Capri during the first quarter valued at approximately $51,000. Finally, UMB Bank N A MO bought a new position in Capri during the fourth quarter valued at approximately $59,000. 88.46% of the stock is currently owned by institutional investors and hedge funds.

About Capri (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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