Wells Fargo & Company Lowers Carter’s (NYSE:CRI) Price Target to $48.00

Carter’s (NYSE:CRI) had its price target lowered by investment analysts at Wells Fargo & Company from $65.00 to $48.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the textile maker’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 14.03% from the stock’s current price.

Separately, Citigroup upgraded shares of Carter’s from a “sell” rating to a “neutral” rating and set a $50.00 target price on the stock in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, Carter’s currently has a consensus rating of “Hold” and an average target price of $55.20.

Carter’s Stock Performance

Shares of CRI opened at $42.10 on Wednesday. The stock has a 50 day moving average of $52.59 and a 200 day moving average of $58.14. The company has a current ratio of 2.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60. Carter’s has a 12 month low of $41.59 and a 12 month high of $88.03. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 6.68, a PEG ratio of 3.37 and a beta of 1.21.

Carter’s (NYSE:CRI) last announced its earnings results on Tuesday, February 25th. The textile maker reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.52. The firm had revenue of $859.70 million during the quarter, compared to analyst estimates of $835.82 million. Carter’s had a return on equity of 27.15% and a net margin of 8.11%. The business’s revenue was up .2% compared to the same quarter last year. During the same period last year, the firm posted $2.76 EPS. As a group, sell-side analysts forecast that Carter’s will post 5.15 earnings per share for the current year.

Institutional Investors Weigh In On Carter’s

Several institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd bought a new stake in shares of Carter’s in the third quarter valued at approximately $683,000. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Carter’s by 79.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 152,560 shares of the textile maker’s stock worth $9,913,000 after acquiring an additional 67,460 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Carter’s by 48.6% in the third quarter. Harbor Capital Advisors Inc. now owns 81,435 shares of the textile maker’s stock worth $5,292,000 after acquiring an additional 26,650 shares during the period. Allianz Asset Management GmbH grew its position in shares of Carter’s by 40.5% in the fourth quarter. Allianz Asset Management GmbH now owns 591,246 shares of the textile maker’s stock valued at $32,040,000 after purchasing an additional 170,528 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Carter’s by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,171,810 shares of the textile maker’s stock valued at $76,144,000 after purchasing an additional 42,589 shares in the last quarter.

Carter’s Company Profile

Carter’s, Inc engages in the business of brand marketing of young children’s apparel. It operates through the following segments: the United States (US) Retail, US Wholesale, and International. The US Retail segment includes selling products through retail stores and ecommerce websites. The US Wholesale segment focuses on wholesale partners.