Capri (NYSE:CPRI) Shares Gap Up – Here’s Why

Capri Holdings Limited (NYSE:CPRI)’s share price gapped up prior to trading on Monday . The stock had previously closed at $21.36, but opened at $22.20. Capri shares last traded at $22.61, with a volume of 1,511,228 shares.

Analysts Set New Price Targets

A number of analysts have weighed in on CPRI shares. JPMorgan Chase & Co. cut their price objective on shares of Capri from $57.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. StockNews.com cut shares of Capri from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. UBS Group cut their price objective on shares of Capri from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Barclays reissued an “equal weight” rating and set a $21.00 price objective on shares of Capri in a report on Wednesday, November 20th. Finally, Guggenheim raised shares of Capri from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.20.

Capri Trading Up 7.4 %

The business’s 50-day moving average is $27.24 and its two-hundred day moving average is $32.15. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.38 and a current ratio of 0.93. The stock has a market capitalization of $2.70 billion, a PE ratio of -7.52, a price-to-earnings-growth ratio of 4.63 and a beta of 2.05.

Institutional Investors Weigh In On Capri

Several institutional investors have recently made changes to their positions in CPRI. CWM LLC boosted its position in shares of Capri by 35.2% during the 2nd quarter. CWM LLC now owns 2,452 shares of the company’s stock worth $81,000 after purchasing an additional 638 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Capri by 50.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,399 shares of the company’s stock worth $278,000 after buying an additional 2,806 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Capri by 12.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,485 shares of the company’s stock worth $215,000 after buying an additional 705 shares in the last quarter. Calamos Advisors LLC boosted its position in shares of Capri by 6.2% in the 2nd quarter. Calamos Advisors LLC now owns 659,298 shares of the company’s stock worth $21,810,000 after buying an additional 38,343 shares in the last quarter. Finally, GAM Holding AG boosted its position in shares of Capri by 20.0% in the 2nd quarter. GAM Holding AG now owns 18,000 shares of the company’s stock worth $595,000 after buying an additional 3,000 shares in the last quarter. 84.34% of the stock is currently owned by hedge funds and other institutional investors.

Capri Company Profile

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.