Capri (NYSE:CPRI) Stock Price Up 9.6% on Better-Than-Expected Earnings

Capri Holdings Limited (NYSE:CPRI)’s share price was up 9.6% on Monday following a better than expected earnings announcement. The company traded as high as $20.53 and last traded at $20.4690. 2,539,026 shares traded hands during trading, a decline of 29% from the average daily volume of 3,569,309 shares. The stock had previously closed at $18.68.

The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.21. The business had revenue of $809.00 million during the quarter, compared to analyst estimates of $786.55 million. Capri had a return on equity of 242.96% and a net margin of 6.12%. Capri’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) earnings per share.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Capri in a report on Tuesday, August 25th. Barclays reduced their price objective on Capri from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. JPMorgan Chase & Co. lowered their price objective on Capri from $29.00 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 4th. TD Cowen began coverage on shares of Capri in a report on Friday. They issued a “hold” rating for the company. Finally, UBS Group decreased their price target on shares of Capri from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Capri presently has an average rating of “Hold” and an average target price of $21.93.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC increased its holdings in shares of Capri by 92.6% in the first quarter. Segall Bryant & Hamill LLC now owns 2,734,735 shares of the company’s stock valued at $48,186,000 after purchasing an additional 1,314,611 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Capri by 34.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,165,618 shares of the company’s stock valued at $38,154,000 after acquiring an additional 557,955 shares during the last quarter. Cooper Creek Partners Management LLC purchased a new stake in Capri in the 1st quarter worth approximately $23,784,000. Allspring Global Investments Holdings LLC grew its position in shares of Capri by 15.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 640,980 shares of the company’s stock valued at $11,518,000 after purchasing an additional 86,361 shares during the period. Finally, SummitTX Capital L.P. grew its holdings in Capri by 222.3% in the 1st quarter. SummitTX Capital L.P. now owns 569,054 shares of the company’s stock valued at $10,027,000 after buying an additional 392,517 shares during the period. Institutional investors and hedge funds own 84.34% of the company’s stock.

Capri Stock Up 9.6%

The company has a debt-to-equity ratio of 6.31, a current ratio of 1.18 and a quick ratio of 0.50. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 0.38 and a beta of 1.27. The firm’s 50-day moving average is $14.62 and its 200 day moving average is $17.91.

Capri Company Profile

Capri Holdings Limited (NYSE: CPRI) is a global fashion and luxury goods company headquartered in London. The company designs, develops, markets and distributes luxury apparel, footwear, handbags, accessories, watches, jewelry and fragrances through its portfolio of fashion brands.

Capri’s principal brands are Michael Kors, Versace and Jimmy Choo. Michael Kors offers a broad range of fashion and lifestyle products, including handbags, footwear, apparel, watches and accessories. Versace is known for luxury clothing, accessories, footwear, home products and fragrances, while Jimmy Choo specializes in luxury footwear, handbags, accessories and fragrances.

The company sells its products through directly operated retail stores, e-commerce platforms, wholesale partners, department stores, specialty retailers and other distribution channels.