Capri (NYSE:CPRI) Shares Gap Up – Should You Buy?

Capri Holdings Limited (NYSE:CPRI) shares gapped up before the market opened on Monday . The stock had previously closed at $20.28, but opened at $21.31. Capri shares last traded at $21.66, with a volume of 511,175 shares.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Guggenheim upgraded Capri from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a report on Tuesday, November 26th. Citigroup lowered shares of Capri from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a report on Friday, September 13th. 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 report on Monday. TD Cowen dropped their target price on Capri from $57.00 to $22.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. Finally, UBS Group reduced their price target on Capri from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Capri has an average rating of “Hold” and a consensus target price of $28.18.

Capri Price Performance

The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of -7.04, a P/E/G ratio of 4.55 and a beta of 2.06. The business has a 50-day simple moving average of $21.27 and a two-hundred day simple moving average of $30.74. The company has a quick ratio of 0.38, a current ratio of 0.93 and a debt-to-equity ratio of 0.83.

Hedge Funds Weigh In On Capri

A number of hedge funds have recently modified their holdings of CPRI. Primecap Management Co. CA grew its holdings in shares of Capri by 14.2% during the third quarter. Primecap Management Co. CA now owns 4,140,755 shares of the company’s stock valued at $175,734,000 after buying an additional 515,963 shares in the last quarter. FMR LLC grew its stake in Capri by 389.2% during the 3rd quarter. FMR LLC now owns 2,858,480 shares of the company’s stock valued at $121,314,000 after acquiring an additional 2,274,149 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Capri by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,942,145 shares of the company’s stock worth $82,446,000 after purchasing an additional 41,009 shares during the period. Dimensional Fund Advisors LP increased 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 period. Finally, Baupost Group LLC MA purchased a new stake in Capri in the 2nd quarter worth approximately $33,080,000. 84.34% of the stock is currently owned by institutional investors and hedge funds.

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.