Robert W. Baird Lowers Capri (NYSE:CPRI) Price Target to $23.00

Capri (NYSE:CPRI) had its target price dropped by analysts at Robert W. Baird from $24.00 to $23.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 4.55% from the stock’s previous close.

A number of other equities research analysts have also issued reports on CPRI. JPMorgan Chase & Co. dropped their target price on Capri from $57.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Citigroup lowered shares of Capri from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research report on Friday, September 13th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $26.00 target price on shares of Capri in a research report on Friday, November 1st. Wells Fargo & Company cut their price target on shares of Capri from $42.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Finally, UBS Group lowered their target price 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 investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.29.

Capri Stock Performance

Shares of CPRI opened at $22.00 on Friday. The firm’s 50 day moving average price is $36.15 and its two-hundred day moving average price is $34.74. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.41 and a current ratio of 0.95. Capri has a twelve month low of $18.75 and a twelve month high of $51.23. The firm has a market cap of $2.59 billion, a P/E ratio of -8.84, a PEG ratio of 3.44 and a beta of 2.05.

Capri (NYSE:CPRI) last announced its earnings results on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.55). The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.16 billion. Capri had a positive return on equity of 18.72% and a negative net margin of 5.81%. Capri’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. On average, analysts forecast that Capri will post 2.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in Capri by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,587,602 shares of the company’s stock valued at $52,514,000 after buying an additional 68,081 shares during the last quarter. Baupost Group LLC MA acquired a new position in shares of Capri in the second quarter valued at approximately $33,080,000. Carlson Capital L P increased its stake in shares of Capri by 2.1% during the first quarter. Carlson Capital L P now owns 955,000 shares of the company’s stock worth $43,262,000 after purchasing an additional 20,000 shares during the period. Samlyn Capital LLC lifted its holdings in Capri by 8.3% during the 2nd quarter. Samlyn Capital LLC now owns 795,258 shares of the company’s stock worth $26,307,000 after purchasing an additional 61,232 shares during the last quarter. Finally, DME Capital Management LP bought a new stake in Capri in the 2nd quarter valued at $22,652,000. 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.