Carter’s (NYSE:CRI) PT Lowered to $68.00 at Wells Fargo & Company

Carter’s (NYSE:CRI) had its price target reduced by investment analysts at Wells Fargo & Company from $75.00 to $68.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the textile maker’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 6.53% from the company’s current price.

Other analysts have also recently issued reports about the company. Wedbush increased their price target on Carter’s from $67.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. StockNews.com cut Carter’s from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Monness Crespi & Hardt cut Carter’s from a “buy” rating to a “neutral” rating in a research report on Monday, February 26th. UBS Group increased their price objective on Carter’s from $76.00 to $79.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Finally, Citigroup decreased their price objective on Carter’s from $66.00 to $64.00 and set a “sell” rating for the company in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, Carter’s currently has an average rating of “Hold” and a consensus price target of $73.80.

Carter’s Stock Down 1.5 %

NYSE CRI traded down $1.11 on Wednesday, hitting $72.75. 309,766 shares of the stock traded hands, compared to its average volume of 762,869. The stock has a 50-day moving average of $80.33 and a 200 day moving average of $74.78. Carter’s has a twelve month low of $60.65 and a twelve month high of $88.03. The company has a market capitalization of $2.67 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 2.10 and a beta of 1.29. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.59.

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

Insider Buying and Selling at Carter’s

In other Carter’s 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 transaction of $153,262.50. Following the completion of the transaction, the director now directly owns 10,216 shares of the company’s stock, valued at approximately $835,055.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Carter’s

Several large investors have recently modified their holdings of CRI. Bank of New York Mellon Corp lifted its holdings in shares of Carter’s by 5.5% in the third quarter. Bank of New York Mellon Corp now owns 1,713,889 shares of the textile maker’s stock valued at $118,515,000 after purchasing an additional 90,094 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Carter’s by 3.4% in the fourth quarter. LSV Asset Management now owns 1,229,812 shares of the textile maker’s stock valued at $92,101,000 after purchasing an additional 39,976 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Carter’s by 0.3% in the fourth quarter. Boston Trust Walden Corp now owns 1,135,092 shares of the textile maker’s stock valued at $85,007,000 after purchasing an additional 3,570 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Carter’s by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 933,576 shares of the textile maker’s stock worth $69,916,000 after acquiring an additional 18,008 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Carter’s by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 864,732 shares of the textile maker’s stock worth $59,796,000 after acquiring an additional 19,495 shares in the last quarter.

About Carter’s

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.