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

Capri (NYSE:CPRI) had its target price dropped by analysts at JPMorgan Chase & Co. from $57.00 to $22.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 0.41% from the stock’s previous close.

Several other analysts have also recently issued reports on CPRI. UBS Group dropped their price target on Capri from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Telsey Advisory Group dropped their price target on Capri from $42.00 to $26.00 and set a “market perform” rating on the stock in a research report on Friday. StockNews.com lowered Capri from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. Wells Fargo & Company decreased their price objective on Capri from $42.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Citigroup lowered Capri from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a report on Friday, September 13th. One 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, Capri currently has a consensus rating of “Hold” and a consensus target price of $31.50.

Capri Trading Down 47.3 %

CPRI stock traded down $19.69 during trading on Friday, reaching $21.91. 33,271,895 shares of the stock traded hands, compared to its average volume of 1,564,357. The business’s 50 day moving average price is $38.96 and its 200-day moving average price is $36.10. Capri has a 52-week low of $21.50 and a 52-week high of $51.46. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.41. The firm has a market capitalization of $2.56 billion, a PE ratio of -11.14, a P/E/G ratio of 7.08 and a beta of 1.97.

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

Institutional Trading of Capri

A number of hedge funds have recently modified their holdings of the business. Quent Capital LLC grew its stake in shares of Capri by 171.8% in the 1st quarter. Quent Capital LLC now owns 1,120 shares of the company’s stock valued at $51,000 after buying an additional 708 shares in the last quarter. Bessemer Group Inc. lifted its stake in Capri by 82.4% in the first quarter. Bessemer Group Inc. now owns 1,330 shares of the company’s stock valued at $60,000 after acquiring an additional 601 shares during the last quarter. EMC Capital Management lifted its stake in Capri by 32.7% in the first quarter. EMC Capital Management now owns 2,421 shares of the company’s stock valued at $110,000 after acquiring an additional 596 shares during the last quarter. CWM LLC lifted its stake in Capri by 35.2% in the second quarter. CWM LLC now owns 2,452 shares of the company’s stock valued at $81,000 after acquiring an additional 638 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Capri in the first quarter valued at approximately $117,000. Hedge funds and other institutional investors own 84.34% of the company’s stock.

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.