Carter's (NYSE:CRI) Stock Price Target Cut by Wells Fargo & Company

Key Points

• Wells Fargo cut Carter’s price target from $42 to $30 and maintained an “equal weight” rating, implying 4.67% downside from the prior close.
• Analyst sentiment remains mixed but leans positive: Carter’s has a “Moderate Buy” consensus rating and an average price target of $39.38, with ratings ranging from Strong Buy to Sell.
• Carter’s shares fell to $31.47, while the company’s latest quarterly results exceeded expectations, reporting $0.26 in adjusted EPS versus a $0.06 consensus estimate and $615.49 million in revenue.

Carter's (NYSE:CRI - Get Free Report) had its price target cut by Wells Fargo & Company from $42.00 to $30.00 in a report released on Monday, Benzinga reports. The brokerage presently has an "equal weight" rating on the textile maker's stock. Wells Fargo & Company's price objective points to a potential downside of 4.67% from the company's previous close.

Several other research analysts also recently weighed in on CRI. Weiss Ratings raised shares of Carter's from a "sell (d+)" rating to a "hold (c)" rating in a report on Thursday, August 13th. Citigroup reissued a "buy" rating on shares of Carter's in a report on Tuesday, July 21st. Wall Street Zen cut Carter's from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 26th. Capital One Financial set a $40.00 price objective on Carter's in a research report on Tuesday, September 8th. Finally, UBS Group restated a "buy" rating on shares of Carter's in a research report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $39.38.

Carter's Stock Performance

Shares of CRI stock traded down $0.89 during trading hours on Monday, reaching $31.47. The company had a trading volume of 231,202 shares, compared to its average volume of 1,195,588. The business has a fifty day moving average price of $33.89 and a 200-day moving average price of $36.59. Carter's has a one year low of $27.67 and a one year high of $44.44. The firm has a market cap of $1.16 billion, a PE ratio of 5.89, a price-to-earnings-growth ratio of 3.65 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.50 and a current ratio of 2.47.

Carter's (NYSE:CRI - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The textile maker reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.20. The company had revenue of $615.49 million during the quarter, compared to analysts' expectations of $605.68 million. Carter's had a return on equity of 12.78% and a net margin of 6.55%. Carter's's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 earnings per share. Sell-side analysts predict that Carter's will post 3.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CRI. Dimensional Fund Advisors LP raised its stake in Carter's by 36.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,765,205 shares of the textile maker's stock valued at $63,121,000 after buying an additional 472,786 shares during the last quarter. Rubric Capital Management LP boosted its holdings in Carter's by 121.5% in the first quarter. Rubric Capital Management LP now owns 1,018,853 shares of the textile maker's stock worth $36,434,000 after acquiring an additional 558,853 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Carter's in the second quarter worth about $28,348,000. Wellington Management Group LLP grew its stake in shares of 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 acquiring an additional 68,464 shares during the last quarter. Finally, Aristides Capital LLC grew its stake in shares of Carter's by 123.3% during the first quarter. Aristides Capital LLC now owns 163,949 shares of the textile maker's stock worth $5,863,000 after acquiring an additional 90,533 shares during the last quarter.

About Carter's

Carter's, Inc NYSE: CRI is a designer, marketer and retailer of apparel and related products for babies and young children. The company's offerings include bodysuits, sleepwear, playwear, outerwear, footwear, accessories, gifts, bedding and other products for infants, toddlers and young children.

Carter's markets products primarily under the Carter's and OshKosh B'gosh brands, as well as Skip Hop, which offers baby and children's gear, accessories and related products. The company sells through its own retail stores and websites, wholesale partners, department stores, mass merchants and other retailers.

The company traces its history to 1865, when it was established as the William Carter Company.

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