Capri (NYSE:CPRI) Price Target Cut to $22.00 by Analysts at JPMorgan Chase & Co.

Capri (NYSE:CPRI) had its price target reduced by JPMorgan Chase & Co. from $57.00 to $22.00 in a report released on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research analysts also recently commented on the stock. Telsey Advisory Group cut their target price on shares of Capri from $42.00 to $26.00 and set a “market perform” rating on the stock in a research report on Friday. Wells Fargo & Company cut their price objective on shares of Capri from $42.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday. Citigroup lowered Capri from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a report on Friday, September 13th. StockNews.com downgraded Capri from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. Finally, UBS Group dropped their price objective on Capri from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.50.

Capri Trading Down 48.9 %

CPRI opened at $21.26 on Friday. The stock’s fifty day moving average is $38.74 and its two-hundred day moving average is $35.84. The company has a market capitalization of $2.50 billion, a P/E ratio of -8.54, a PEG ratio of 6.93 and a beta of 1.97. Capri has a 52 week low of $20.99 and a 52 week high of $51.46. The company has a quick ratio of 0.41, a current ratio of 0.95 and a debt-to-equity ratio of 0.79.

Capri (NYSE:CPRI) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.55). Capri had a positive return on equity of 18.72% and a negative net margin of 5.81%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the company posted $0.74 EPS. Capri’s quarterly revenue was down 13.2% compared to the same quarter last year. Analysts forecast that Capri will post 2.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CPRI. Allspring Global Investments Holdings LLC purchased a new stake in shares of Capri during the first quarter worth about $1,283,000. State of Michigan Retirement System boosted its stake in Capri by 2.9% in the 1st quarter. State of Michigan Retirement System now owns 28,665 shares of the company’s stock worth $1,299,000 after purchasing an additional 800 shares in the last quarter. Silverlake Wealth Management LLC purchased a new stake in Capri during the 1st quarter worth approximately $1,153,000. Fortis Group Advisors LLC increased its stake in Capri by 211.4% during the 1st quarter. Fortis Group Advisors LLC now owns 24,464 shares of the company’s stock valued at $1,108,000 after purchasing an additional 16,608 shares in the last quarter. Finally, Retirement Systems of Alabama raised its holdings in shares of Capri by 0.6% in the first quarter. Retirement Systems of Alabama now owns 146,379 shares of the company’s stock worth $6,631,000 after buying an additional 818 shares during the last quarter. 84.34% of the stock is owned by institutional investors and hedge funds.

About Capri

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.