Carter's (NYSE:CRI) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Carter’s from “buy” to “hold.” Overall analyst consensus is also “hold,” with an average price target of $38.62.
• Carter’s beat quarterly earnings and revenue estimates, reporting EPS of $1.03 versus $0.85 expected and revenue of $752.46 million versus $747.34 million. Revenue was down 0.7% year over year.
• The stock opened at $32.01, below its 200-day moving average of $36.18; its 52-week range is $27.86 to $44.44.

Carter's (NYSE:CRI - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

CRI has been the subject of a number of other research reports. BMO Capital Markets started coverage on Carter's in a report on Tuesday, September 8th. They issued an "outperform" rating and a $40.00 target price for the company. Citigroup reiterated a "buy" rating on shares of Carter's in a research note on Tuesday, July 21st. Weiss Ratings raised shares of Carter's from a "sell (d+)" rating to a "hold (c)" rating in a report on Thursday, August 13th. Needham & Company LLC restated a "hold" rating on shares of Carter's in a research report on Tuesday, October 20th. Finally, Zacks Research cut shares of Carter's from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $38.62.

Carter's Trading Down 1.9%

CRI opened at $32.01 on Friday. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 5.32, a P/E/G ratio of 3.63 and a beta of 0.85. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.63 and a current ratio of 2.78. Carter's has a one year low of $27.86 and a one year high of $44.44. The stock's 50 day moving average price is $31.78 and its 200-day moving average price is $36.18.

Carter's (NYSE:CRI - Get Free Report) last issued its quarterly earnings data on Friday, October 30th. The textile maker reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.18. The business had revenue of $752.46 million during the quarter, compared to the consensus estimate of $747.34 million. Carter's had a net margin of 7.40% and a return on equity of 13.25%. The company's revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, equities analysts forecast that Carter's will post 3.22 EPS for the current year.

Institutional Trading of Carter's

Several large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in shares of Carter's by 36.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,765,205 shares of the textile maker's stock valued at $63,121,000 after acquiring an additional 472,786 shares in the last quarter. Rubric Capital Management LP increased its stake in Carter's by 121.5% during the first quarter. Rubric Capital Management LP now owns 1,018,853 shares of the textile maker's stock valued at $36,434,000 after acquiring an additional 558,853 shares during the period. Bank of New York Mellon Corp acquired a new stake in Carter's during the second quarter worth $28,348,000. Wellington Management Group LLP lifted its stake in Carter's by 11.9% during the second quarter. Wellington Management Group LLP now owns 645,863 shares of the textile maker's stock worth $26,584,000 after purchasing an additional 68,464 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in Carter's during the third quarter worth about $8,073,000.

About Carter's

Carter's, Inc NYSE: CRI is a major designer, source and marketer of apparel and related products for babies and young children. The company offers clothing, accessories, footwear, gifts and other products for infants, toddlers and children through brands including Carter's, OshKosh B'gosh, Little Planet and Skip Hop.

Founded in 1865, Carter's has built a long-standing presence in the children's apparel market. Its products are sold through company-operated retail stores, e-commerce websites and wholesale partners, including department stores, mass merchants and specialty retailers.

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