Carter’s (NYSE:CRI) Price Target Cut to $68.00

Carter’s (NYSE:CRI) had its target price cut by stock analysts at Wells Fargo & Company from $75.00 to $68.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the textile maker’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 4.99% from the stock’s previous close.

A number of other analysts have also weighed in on CRI. StockNews.com lowered Carter’s from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. UBS Group upped their price objective on Carter’s from $76.00 to $79.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Evercore ISI upped their price objective on Carter’s from $70.00 to $80.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Citigroup cut their price objective on Carter’s from $66.00 to $64.00 and set a “sell” rating on the stock in a research report on Thursday, April 18th. Finally, Monness Crespi & Hardt lowered Carter’s from a “buy” rating to a “neutral” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, Carter’s presently has an average rating of “Hold” and a consensus price target of $73.80.

Carter’s Stock Down 1.5 %

Shares of NYSE CRI opened at $71.57 on Wednesday. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 2.15 and a beta of 1.29. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.59. Carter’s has a 52-week low of $60.65 and a 52-week high of $88.03. The business’s 50 day moving average is $79.96 and its two-hundred day moving average is $74.74.

Carter’s (NYSE:CRI) last announced its earnings results on Tuesday, February 27th. The textile maker reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.24. The company had revenue of $858.00 million for the quarter, compared to analyst estimates of $867.81 million. Carter’s had a return on equity of 28.79% and a net margin of 7.89%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.29 earnings per share. Research analysts predict that Carter’s will post 6.52 EPS for the current year.

Insider Activity at Carter’s

In related news, Director Mark Hipp sold 1,875 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $81.74, for a total value of $153,262.50. Following the transaction, the director now owns 10,216 shares of the company’s stock, valued at $835,055.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Carter’s

Several large investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its stake in Carter’s by 2.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,600 shares of the textile maker’s stock valued at $898,000 after acquiring an additional 300 shares in the last quarter. Raymond James & Associates boosted its stake in Carter’s by 58.0% in the first quarter. Raymond James & Associates now owns 85,832 shares of the textile maker’s stock valued at $7,268,000 after acquiring an additional 31,511 shares in the last quarter. Leeward Investments LLC MA boosted its stake in Carter’s by 0.6% in the first quarter. Leeward Investments LLC MA now owns 145,129 shares of the textile maker’s stock valued at $12,289,000 after acquiring an additional 810 shares in the last quarter. Wasatch Advisors LP acquired a new position in Carter’s in the first quarter valued at $45,011,000. Finally, State of Michigan Retirement System boosted its stake in Carter’s by 2.3% in the first quarter. State of Michigan Retirement System now owns 9,029 shares of the textile maker’s stock valued at $765,000 after acquiring an additional 200 shares in the last quarter.

Carter’s Company Profile

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Little Planet, and other brands in the United States and internationally. It operates through three segments: U.S.