Capri (NYSE:CPRI) Rating Increased to Overweight at Wells Fargo & Company

Capri (NYSE:CPRI) was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage presently has a $28.00 price objective on the stock, up from their previous price objective of $20.00. Wells Fargo & Company‘s target price indicates a potential upside of 29.99% from the stock’s current price.

Several other analysts have also issued reports on the company. Telsey Advisory Group cut their target price on Capri from $26.00 to $23.00 and set a “market perform” rating for the company in a research note on Friday, November 15th. BMO Capital Markets raised shares of Capri from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $25.00 to $31.00 in a research note on Monday. Citigroup lowered shares of Capri from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a report on Friday, September 13th. TD Cowen lowered their price target on shares of Capri from $57.00 to $22.00 and set a “hold” rating for the company in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. raised their price objective on Capri from $15.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $27.55.

Capri Trading Up 0.4 %

Shares of CPRI stock opened at $21.54 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.93 and a debt-to-equity ratio of 0.83. The firm has a market cap of $2.54 billion, a P/E ratio of -7.04, a price-to-earnings-growth ratio of 4.55 and a beta of 2.06. The business has a 50-day moving average price of $21.35 and a two-hundred day moving average price of $30.62. Capri has a 12-month low of $18.70 and a 12-month high of $51.23.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Oddo BHF Asset Management Sas bought a new stake in shares of Capri during the 3rd quarter valued at about $25,888,000. Rule One Partners LLC purchased a new position in shares of Capri in the 3rd quarter valued at approximately $2,483,000. Sunbelt Securities Inc. bought a new position in Capri in the third quarter worth $42,000. Geode Capital Management LLC lifted its position in Capri by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,942,145 shares of the company’s stock valued at $82,446,000 after buying an additional 41,009 shares during the period. Finally, M&T Bank Corp boosted its holdings in shares of Capri by 21.5% during the 3rd quarter. M&T Bank Corp now owns 8,419 shares of the company’s stock valued at $357,000 after buying an additional 1,488 shares in the last quarter. 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.