Needham Reaffirms Their Hold Rating on Capri Holdings (CPRI)

By Carrie Williams

Needham analyst Rick Patel maintained a Hold rating on Capri Holdings (CPRIResearch Report) today. The company’s shares closed last Friday at $14.37.

According to TipRanks.com, Patel is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -6.4% and a 33.3% success rate. Patel covers the Consumer Goods sector, focusing on stocks such as Columbia Sportswear, G-III Apparel Group, and Lululemon Athletica.

The word on The Street in general, suggests a Hold analyst consensus rating for Capri Holdings with a $19.33 average price target.

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Based on Capri Holdings’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.57 billion and net profit of $210 million. In comparison, last year the company earned revenue of $1.44 billion and had a net profit of $200 million.

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Capri Holdings Ltd. engages in the design and distribution of sportswear, accessories, footwear and apparel of branded women’s apparel and accessories and men’s apparel. It operates through the following segments: Versace, Jimmy Choo and Michael Kors. The Versace segment sells Versace luxury ready-to-wear, accessories, footwear and home furnishings through directly operated Versace boutiques. The Jimmy Choo segment sells Jimmy Choo luxury goods to end clients through directly operated Jimmy Choo stores. The Michael Kors segment sells Michael Kors products through four primary Michael Kors retail store formats: Collection, Lifestyle, outlet stores and e-commerce. The company was founded by Michael David Kors on December 13, 2002 and is headquartered in London, the United Kingdom.