Why Capri Holdings Stock Crushed it Today
Key Points
This came one trading day after the company delivered an estimates-trouncing fiscal second quarter.
It also edged past analyst estimates for the full year.
- 10 stocks we like better than Capri ›
Still riding the positive momentum from a satisfying quarterly earnings report, Capri Holdings (NYSE:CPRI) stock cruised to a more than 7% gain on Monday. Also providing plenty of fuel for this was a set of analyst price target increases on the fashion conglomerate's stock.
A company in style for the market
Capri's second quarter of fiscal 2027 results were published Friday morning. Although revenue declined by almost 6% year over year to $809 million, the company flipped to a non-GAAP (adjusted) net income of $45 million. On top of that, it obliterated analyst profitability estimates and comfortably beat on the top line.
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On Monday, analysts tracking the stock reacted overwhelmingly positively to the consumer discretionary company's performance. Several expressed this by raising their Capri price targets.
Among these was Brooke Roach from the ever-influential investment bank Goldman Sachs (NYSE:GS). She lifted hers to $24 from $18, albeit while maintaining her neutral recommendation. A more bullish note was authored by Barclays' (NYSE:BCS) Adrienne Yih, who now feels the stock is worth $24 apiece, up from her preceding $19. She kept her overweight (i.e., buy) recommendation intact.
A tale of two fashion lines
I'm always rather hesitant about fashion stocks, as they're subject to trends, whims, and the health of the economy. That said, Capri's Jimmy Choo line did especially well and looks set to continue doing so, even if the larger Michael Kors unit is currently in turnaround mode. Meanwhile, management is effectively trimming costs behind the scenes. If I were to consider buying any fashion title, I'd certainly add this one to the list.
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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group. The Motley Fool has a disclosure policy.
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