Capri Holdings Limited (NYSE:CPRI) Receives Average Rating of “Moderate Buy” from Brokerages

Capri Holdings Limited (NYSE:CPRIGet Rating) has received an average recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $71.20.

A number of equities research analysts have recently commented on CPRI shares. Citigroup lowered their target price on Capri from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, June 2nd. JPMorgan Chase & Co. lifted their target price on Capri from $65.00 to $72.00 in a research note on Friday, September 16th. Credit Suisse Group lowered their target price on Capri from $65.00 to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, July 21st. The Goldman Sachs Group lowered their target price on Capri from $69.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, July 21st. Finally, Robert W. Baird lowered their target price on Capri from $85.00 to $75.00 and set an “outperform” rating on the stock in a research note on Thursday, June 2nd.

Capri Price Performance

CPRI opened at $43.86 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.29 and a quick ratio of 0.51. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 8.20, a P/E/G ratio of 0.64 and a beta of 2.25. The firm’s fifty day moving average price is $48.44 and its two-hundred day moving average price is $47.81. Capri has a 1 year low of $36.90 and a 1 year high of $72.37.

Capri (NYSE:CPRIGet Rating) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.14. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.30 billion. Capri had a net margin of 13.96% and a return on equity of 36.51%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.42 EPS. As a group, analysts anticipate that Capri will post 6.84 earnings per share for the current fiscal year.

Capri announced that its Board of Directors has authorized a stock buyback plan on Wednesday, June 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, Director Judy Gibbons sold 4,920 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $48.88, for a total transaction of $240,489.60. Following the completion of the transaction, the director now owns 24,620 shares of the company’s stock, valued at $1,203,425.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Teacher Retirement System of Texas boosted its stake in Capri by 5.7% in the first quarter. Teacher Retirement System of Texas now owns 31,066 shares of the company’s stock worth $1,596,000 after buying an additional 1,676 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Capri by 1,502.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 232,337 shares of the company’s stock worth $11,939,000 after buying an additional 217,841 shares in the last quarter. Swiss National Bank boosted its stake in Capri by 6.4% in the first quarter. Swiss National Bank now owns 355,800 shares of the company’s stock worth $18,285,000 after buying an additional 21,300 shares in the last quarter. Strs Ohio boosted its stake in Capri by 13.4% in the first quarter. Strs Ohio now owns 19,191 shares of the company’s stock worth $986,000 after buying an additional 2,263 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in Capri by 4.3% in the fourth quarter. Cetera Investment Advisers now owns 35,784 shares of the company’s stock worth $2,323,000 after buying an additional 1,476 shares in the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

About Capri

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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.

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Analyst Recommendations for Capri (NYSE:CPRI)

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