Carter’s (NYSE:CRI) Price Target Cut to $68.00 by Analysts at Wells Fargo & Company

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

Other equities research analysts have also issued research reports about the stock. Evercore ISI boosted their price target on shares of Carter’s from $70.00 to $80.00 and gave the company an “in-line” rating in a report on Wednesday, February 28th. Citigroup dropped their price objective on shares of Carter’s from $66.00 to $64.00 and set a “sell” rating on the stock in a research note on Thursday, April 18th. Wedbush upped their price objective on shares of Carter’s from $67.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. StockNews.com lowered shares of Carter’s from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, Monness Crespi & Hardt lowered shares of Carter’s from a “buy” rating to a “neutral” rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $73.80.

Carter’s Stock Down 1.5 %

NYSE CRI opened at $71.57 on Wednesday. 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 company’s 50 day simple moving average is $79.96 and its 200 day simple moving average is $74.74. Carter’s has a 12 month low of $60.65 and a 12 month high of $88.03. The company has a market capitalization of $2.62 billion, a P/E ratio of 11.41, a PEG ratio of 2.15 and a beta of 1.29.

Carter’s (NYSE:CRI) last released its quarterly 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. 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 analyst estimates of $867.81 million. During the same quarter in the previous year, the business earned $2.29 earnings per share. The firm’s revenue was down 5.9% compared to the same quarter last year. Equities research analysts expect that Carter’s will post 6.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Carter’s news, Director Mark Hipp sold 1,875 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 10,216 shares of the company’s stock, valued at $835,055.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.30% of the company’s stock.

Institutional Trading of Carter’s

Large investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its holdings in shares of Carter’s by 59.3% during the 4th quarter. Pacer Advisors Inc. now owns 632,671 shares of the textile maker’s stock worth $47,381,000 after buying an additional 235,431 shares during the period. Hussman Strategic Advisors Inc. boosted its holdings in shares of Carter’s by 103.2% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the textile maker’s stock worth $4,718,000 after buying an additional 32,000 shares during the period. Northern Trust Corp boosted its holdings in shares of Carter’s by 4.9% during the 3rd quarter. Northern Trust Corp now owns 408,095 shares of the textile maker’s stock worth $28,220,000 after buying an additional 18,901 shares during the period. Dark Forest Capital Management LP boosted its holdings in shares of Carter’s by 254.3% during the 3rd quarter. Dark Forest Capital Management LP now owns 77,033 shares of the textile maker’s stock worth $5,327,000 after buying an additional 55,291 shares during the period. Finally, Sound Income Strategies LLC boosted its holdings in shares of Carter’s by 7.6% during the 4th quarter. Sound Income Strategies LLC now owns 93,170 shares of the textile maker’s stock worth $6,977,000 after buying an additional 6,561 shares during the period.

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.