Citigroup Trims Carter’s (NYSE:CRI) Target Price to $64.00

Carter’s (NYSE:CRI) had its target price lowered by Citigroup from $66.00 to $64.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “sell” rating on the textile maker’s stock. Citigroup’s target price suggests a potential downside of 10.80% from the company’s current price.

Several other brokerages have also recently issued reports on CRI. StockNews.com cut shares of Carter’s from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. TheStreet upgraded shares of Carter’s from a “c+” rating to a “b-” rating in a report on Friday, December 22nd. UBS Group raised their target price on shares of Carter’s from $76.00 to $79.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Evercore ISI raised their target price on shares of Carter’s from $70.00 to $80.00 and gave the stock an “in-line” rating in a report on Wednesday, February 28th. Finally, Wedbush raised their target price on shares of Carter’s from $67.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $75.25.

Carter’s Stock Up 0.5 %

Shares of NYSE CRI opened at $71.75 on Thursday. Carter’s has a one year low of $60.65 and a one year high of $88.03. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.15 and a quick ratio of 1.10. The firm’s 50 day simple moving average is $80.66 and its two-hundred day simple moving average is $74.56. The stock has a market capitalization of $2.63 billion, a P/E ratio of 11.44, a PEG ratio of 2.08 and a beta of 1.29.

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

Insider Activity at Carter’s

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

Hedge Funds Weigh In On Carter’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRI. Raymond James & Associates lifted its position in Carter’s by 29.7% during the first quarter. Raymond James & Associates now owns 27,235 shares of the textile maker’s stock valued at $2,505,000 after buying an additional 6,241 shares during the period. US Bancorp DE lifted its position in Carter’s by 6.2% during the first quarter. US Bancorp DE now owns 4,787 shares of the textile maker’s stock valued at $440,000 after buying an additional 280 shares during the period. Acadian Asset Management LLC purchased a new position in Carter’s during the first quarter valued at $601,000. MetLife Investment Management LLC lifted its position in Carter’s by 33.4% during the first quarter. MetLife Investment Management LLC now owns 27,317 shares of the textile maker’s stock valued at $2,513,000 after buying an additional 6,834 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Carter’s by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,490 shares of the textile maker’s stock worth $1,425,000 after purchasing an additional 1,477 shares during 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.