Robert W. Baird Lowers Capri (NYSE:CPRI) Price Target to $75.00

Capri (NYSE:CPRIGet Rating) had its price objective decreased by research analysts at Robert W. Baird from $85.00 to $75.00 in a report issued on Thursday, The Fly reports. Robert W. Baird’s price target would suggest a potential upside of 52.22% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Bank of America increased their price target on Capri from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, February 3rd. Barclays increased their price target on Capri from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Tuesday, April 19th. BTIG Research increased their price objective on Capri from $95.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday, February 3rd. Telsey Advisory Group reiterated a “market perform” rating on shares of Capri in a report on Thursday, May 26th. Finally, Wells Fargo & Company decreased their price objective on Capri from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, April 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $76.94.

NYSE:CPRI opened at $49.27 on Thursday. Capri has a 1-year low of $36.90 and a 1-year high of $72.37. The business’s 50-day moving average price is $47.52 and its two-hundred day moving average price is $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. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 0.14 and a beta of 2.30.

Capri (NYSE:CPRIGet Rating) last released its earnings results on Wednesday, June 1st. The company reported $1.02 earnings per share for the quarter, beating 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 firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up 24.6% on a year-over-year basis. Sell-side analysts predict that Capri will post 6 earnings per share for the current year.

Capri announced that its board has initiated a share buyback plan on Wednesday, June 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 13.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, SVP Daniel Purefoy sold 1,950 shares of the firm’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 value of $99,060.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in CPRI. Norges Bank acquired a new stake in Capri during the 4th quarter worth approximately $103,411,000. Goldman Sachs Group Inc. increased its stake in Capri by 41.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,649,958 shares of the company’s stock worth $136,182,000 after acquiring an additional 782,577 shares during the period. Senvest Management LLC increased its stake in Capri by 15.7% during the 4th quarter. Senvest Management LLC now owns 5,322,498 shares of the company’s stock worth $345,483,000 after acquiring an additional 723,007 shares during the period. Park West Asset Management LLC increased its stake in Capri by 83.0% during the 3rd quarter. Park West Asset Management LLC now owns 1,417,898 shares of the company’s stock worth $68,640,000 after acquiring an additional 642,898 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Capri by 1,404.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 579,901 shares of the company’s stock worth $29,801,000 after acquiring an additional 541,363 shares during the period. 88.46% of the stock is 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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