The stock of Capri Holdings Limited (NYSE:CPRI) is now priced at $16.24 and the shares are -0.11 points down or -0.67% lower compared to its previous closing price of $16.35. The stock had 2.018 million contracts set over the past session. CPRI shares’ daily volume is compared to its average trading volume at 4.018 million shares. However, it has a float of 146 million and although its performance was 2.72% over the week, it’s one to watch. Analysts have given the CPRI stock a yearly average price target of $18.48 per share. It means the stock’s upside potential is 13.79% with the CPRI share price recently placing at $15.915 to $16.66. However, some brokerage firms have priced the stock below the average, including one that has called $15.
The shorts are running away from the Capri Holdings Limited stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the CPRI shares have declined. Short interest in the stock represents just 10.34% of its float, but the volume has dropped by 0.
In the last trading session, Capri Holdings Limited (NYSE:CPRI) raised by $0.43 over the week and gained $1.4 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $39.9. The stock recorded its established 52-week high on 12/13/19.
Since 03/18/20, the stock has traded to a low of $5.42 at 199.63%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.93. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Capri Holdings Limited’s two-week RSI is 53.3. This suggests that the stock is neutral at the moment and that CPRI shares’ price movement remains stable. The stochastic readings are equally revealing at 42.52% meaning the CPRI share price is currently in neutral territory.
The technical chart shows that the CPRI stock will likely settle at between $16.63 and $17.02 per share. However, if the stock dips below $15.88, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $15.53.
Currently, the stock is trading in the red of MACD, with a reading of -0.37. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Piper Sandler cut their recommendation for CPRI from Overweight to Neutral in May 18 review while maintai their target price of $21 to $16. BTIG Research analysts see the stock as a Neutral in a flash note released to investors on April 29 initiating covering the stock. Wells Fargo seeing the stock struggling downgraded it from Overweight to Equal Weight on March 30 placing it at $30 to $18.
The average rating for the CPRI equity is 2.62 and is currently gathering a bullish momentum. Of 26 analysts tracking Capri Holdings Limited polled by Reuters, 19 rated CPRI as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (7) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the CPRI stock price is 5.68X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Capri Holdings Limited (NYSE:CPRI) will increase by about 96.42%, which will see them reach $886 million. The company’s full-year revenues are, however, expected to diminish by about -33.15%, down from $5550 million to $3710 million. CPRI’s expected adjusted earnings should drop almost -102.59% to end up at -$0.03 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -88.43% to record $0.45/share.