Jefferies Financial Group Increases Capri (NYSE:CPRI) Price Target to $80.00

Capri (NYSE:CPRI) had its price target hoisted by Jefferies Financial Group from $75.00 to $80.00 in a report issued on Wednesday, The Fly reports. They currently have a buy rating on the stock. Jefferies Financial Group also issued estimates for Capri’s FY2021 earnings at $5.60 EPS. The analysts noted that the move was a valuation call.

A number of other research analysts have also weighed in on CPRI. Argus began coverage on shares of Capri in a research note on Wednesday, June 12th. They issued a hold rating for the company. Canaccord Genuity reiterated a buy rating and issued a $67.00 price objective (down from $76.00) on shares of Capri in a research note on Thursday, May 30th. They noted that the move was a valuation call. Credit Suisse Group reduced their price objective on shares of Capri from $52.00 to $40.00 and set a neutral rating for the company in a research note on Thursday, May 30th. They noted that the move was a valuation call. Needham & Company LLC reiterated a buy rating and issued a $50.00 price objective (down from $54.00) on shares of Capri in a research note on Thursday, August 8th. Finally, Guggenheim reiterated a hold rating on shares of Capri in a research note on Wednesday, May 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $52.23.

NYSE:CPRI opened at $32.19 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.42 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $4.94 billion, a PE ratio of 7.07, a price-to-earnings-growth ratio of 1.16 and a beta of 0.82. The firm’s 50 day moving average is $29.43 and its 200 day moving average is $37.75. Capri has a 12 month low of $25.25 and a 12 month high of $73.63.

Capri (NYSE:CPRI) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Capri had a net margin of 7.45% and a return on equity of 30.29%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the business earned $1.32 EPS. Capri’s revenue was up 11.9% compared to the same quarter last year. Research analysts predict that Capri will post 4.9 earnings per share for the current year.

In other news, CEO John D. Idol purchased 363,000 shares of Capri stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $27.48 per share, for a total transaction of $9,975,240.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 5.30% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ARGA Investment Management LP grew its position in shares of Capri by 623.6% during the 2nd quarter. ARGA Investment Management LP now owns 107,992 shares of the company’s stock valued at $3,745,000 after purchasing an additional 93,067 shares in the last quarter. FMR LLC purchased a new position in shares of Capri during the 1st quarter valued at $312,693,000. New York State Common Retirement Fund purchased a new position in shares of Capri during the 1st quarter valued at $12,820,000. TD Asset Management Inc. purchased a new position in shares of Capri during the 2nd quarter valued at $1,568,000. Finally, AGF Investments LLC grew its position in Capri by 104.8% in the second quarter. AGF Investments LLC now owns 9,193 shares of the company’s stock worth $319,000 after acquiring an additional 4,704 shares in the last quarter. Hedge funds and other institutional investors own 85.56% of the company’s stock.

About Capri

Capri Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

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Analyst Recommendations for Capri (NYSE:CPRI)

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