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CPRI

Capri Holdings

$29.98

1.725 (6.11%)

14:45
10/11/19
10/11
14:45
10/11/19
14:45

Capri Holdings call volume above normal and directionally bullish

Bullish option flow detected in Capri Holdings with 5,619 calls trading, 3x expected, and implied vol increasing almost 2 points to 62.19%. 11/1 weekly 31.5 calls and 11/1 weekly 32.5 calls are the most active options, with total volume in those strikes near 3,300 contracts. The Put/Call Ratio is 0.08. Earnings are expected on November 6th.

CPRI Capri Holdings
$29.98

1.725 (6.11%)

06/12/19
ARGS
06/12/19
INITIATION
ARGS
Hold
Capri Holdings initiated with a Hold at Argus
Argus analyst Stephen Biggar initiated Capri Holdings at Hold, saying that while it has a "strong reputation" in the fashion industry with the "iconic" Michael Kors, Jimmy Choo, and Versace luxury brands, the integration of the last two is challenging and the company's earnings growth looks "sluggish". The analyst notes that the brands come with an "extensive presence in social media with millions of Instagram followers", yet the stock has fallen nearly 50% over the past year on constrained earnings from the marketing investment associated with the acquisitions and the company's international expansion. Biggar adds that while the current valuation for Capri Holdings at 7.1-times his expected FY20 earnings is near the low end of its historical range, he believes the multiple "adequately reflects the company's near-term prospects."
08/02/19
PIPR
08/02/19
NO CHANGE
PIPR
More tariffs could bring 'near-term pain' for retail margins, says Piper Jaffray
Piper Jaffray analyst Erinn Murphy revisited her views on the Global Lifestyle Brands group after President Trump announced a 10% tariff on all remaining goods coming from China starting September. In her group, Steven Madden (SHOO) and G-III Apparel (GIII) have the most direct incremental exposure to China. Her biggest concern, however, is that the tariffs come right into the back-to-school and holiday season. Goods have been priced and contracts for future orders have been inked, which presents "near-term pain" for gross margins as re-ticketing goods intra-season "can be tricky," Murphy tells investors in a research note. Retail stocks reacted aggressively on yesterday afternoon following Trump's tweet, which creates some opportunities, says Murphy. The analyst would be buyers of Under Armour (UAA), Nike (NKE) and VF Corp. (VFC). These names have diversified global footprints and lower than average exposure in China, she contends. On the flip side, if the Chinese consumer travels less, Ralph Lauren (RL), PVH Corp. (PVH), Tapestry (TPR), Capri Holdings (CPRI) and G-III could be hurt, cautions Murphy.
08/12/19
MKMP
08/12/19
NO CHANGE
Target $35
MKMP
Neutral
Capri Holdings price target lowered to $35 from $40 at MKM Partners
MKM Partners analyst Roxanne Meyer lowered her price target on Capri Holdings to $35 and kept her Neutral rating after its below-consensus Q1 revenues due to incremental headwinds from Michael Kors wholesale, even though the company was able to maintain its FY20 guidance. The analyst still sees an opportunity for Capri Holdings in FY20 coming from any potential improvement in Michael Kors trends, the launch of new products at Versace and Jimmy Choo, and the continued benefits of lower manufacturing costs.
09/18/19
JEFF
09/18/19
NO CHANGE
Target $80
JEFF
Buy
Capri Holdings price target raised to $80 from $75 at Jefferies
Jefferies analyst Randal Konik raised his price target for Capri Holdings to $80 from $75 and keeps a Buy rating on the shares. The company's long-term opportunity in Asia is being overlooked, while its near-term investments should drive improved stability and multiple expansion, Konik tells investors in a research note. The analyst views consensus estimates as too low and sees "significant upside ahead" for shares of Capri Holdings with the valuation near all-time lows. Konik's sum-of-the-parts analysis indicates Capri Holdings shares could more than double.

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