Carter’s (NYSE:CRI) Downgraded by Bank of America to “Underperform”

Carter’s (NYSE:CRI – Get Rating) was downgraded by research analysts at Bank of America from a “buy” rating to an “underperform” rating in a note issued to investors on Wednesday, The Fly reports. They currently have a $82.00 target price on the textile maker’s stock, down from their prior target price of $120.00. Bank of America‘s target price suggests a potential downside of 5.29% from the stock’s previous close.

CRI has been the topic of several other research reports. Wedbush raised shares of Carter’s from a “neutral” rating to an “outperform” rating and set a $108.00 price target on the stock in a research report on Monday, March 7th. UBS Group lifted their price target on shares of Carter’s from $110.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, March 7th. Citigroup boosted their target price on Carter’s from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, February 28th. Wells Fargo & Company cut their target price on Carter’s from $105.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 5th. Finally, StockNews.com raised Carter’s from a “hold” rating to a “buy” rating in a research report on Thursday, March 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $108.88.

Shares of Carter’s stock opened at $86.58 on Wednesday. The firm has a market cap of $3.52 billion, a PE ratio of 11.07, a P/E/G ratio of 1.00 and a beta of 1.30. The company has a current ratio of 2.62, a quick ratio of 1.73 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $92.06. Carter’s has a 1-year low of $84.41 and a 1-year high of $116.92.

Carter’s (NYSE:CRI – Get Rating) last released its quarterly earnings results on Friday, February 25th. The textile maker reported $2.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.28. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Carter’s had a net margin of 9.74% and a return on equity of 33.15%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.46 EPS. As a group, research analysts forecast that Carter’s will post 8.93 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. Covestor Ltd acquired a new position in shares of Carter’s during the fourth quarter worth $28,000. KBC Group NV acquired a new position in shares of Carter’s during the fourth quarter worth $72,000. Van ECK Associates Corp acquired a new position in shares of Carter’s during the fourth quarter worth $94,000. Sciencast Management LP acquired a new position in shares of Carter’s during the fourth quarter worth $214,000. Finally, MML Investors Services LLC acquired a new position in shares of Carter’s during the third quarter worth $224,000. Institutional investors and hedge funds own 99.44% of the company’s stock.

About Carter’s (Get Rating)

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, Carter's My First Love, little planet, and other brands in the United States and internationally. The company operates through three segments: U.S.

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