Wells Fargo downgrades Capri Holdings (CPRI) to a Hold

Capri Holdings received a Hold rating and a price target from Wells Fargo analyst Ike Boruchow today.

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Boruchow covers the Consumer Cyclical sector, focusing on stocks such as Bath & Body Works, Amer Sports, Inc., and Tapestry. According to TipRanks, Boruchow has an average return of 5.4% and a 50.30% success rate on recommended stocks.

In addition to Wells Fargo, Capri Holdings also received a Hold from Jefferies’s Ashley Helgans in a report issued on December 12. However, on December 9, Guggenheim initiated coverage with a Buy rating on Capri Holdings (NYSE: CPRI).

Based on Capri Holdings’ latest earnings release for the quarter ending September 27, the company reported a quarterly revenue of $856 million and a GAAP net loss of $28 million. In comparison, last year the company earned a revenue of $797 million and had a net profit of $53 million

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CPRI in relation to earlier this year. Earlier this month, Rajal Mehta, the Interim CFO of CPRI sold 10,000.00 shares for a total of $259,600.00.