Carter's (NYSE:CRI) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Carter’s from “strong buy” to “buy,” although the broader analyst consensus remains “Moderate Buy” with a $41.17 target price.
• Carter’s shares traded at $33.63, below their 50-day and 200-day moving averages, with a 52-week range of $27.15 to $44.44.
• The company exceeded quarterly expectations, reporting $0.26 in earnings per share versus a $0.06 consensus estimate and revenue of $615.49 million, up 5.2% year over year.

Carter's (NYSE:CRI - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Saturday.

Several other equities research analysts have also recently weighed in on CRI. Citigroup reiterated a "buy" rating on shares of Carter's in a research report on Tuesday, July 21st. UBS Group reiterated a "buy" rating on shares of Carter's in a report on Wednesday, July 8th. Wells Fargo & Company upgraded Carter's from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $30.00 to $42.00 in a report on Wednesday, June 17th. Weiss Ratings upgraded shares of Carter's from a "sell (d+)" rating to a "hold (c)" rating in a research note on Thursday, August 13th. Finally, Monness Crespi & Hardt increased their target price on shares of Carter's from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.17.

Carter's Price Performance

Shares of NYSE:CRI traded up $0.29 during midday trading on Friday, hitting $33.63. The stock had a trading volume of 1,059,207 shares, compared to its average volume of 1,225,799. The company's 50-day moving average price is $38.88 and its 200-day moving average price is $37.82. The company has a quick ratio of 1.50, a current ratio of 2.47 and a debt-to-equity ratio of 0.55. Carter's has a fifty-two week low of $27.15 and a fifty-two week high of $44.44. The company has a market capitalization of $1.23 billion, a P/E ratio of 6.30, a price-to-earnings-growth ratio of 3.76 and a beta of 0.86.

Carter's (NYSE:CRI - Get Free Report) last posted its earnings results on Friday, July 31st. The textile maker reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.20. The firm had revenue of $615.49 million for the quarter, compared to analysts' expectations of $605.68 million. Carter's had a net margin of 6.55% and a return on equity of 12.78%. The company's revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 earnings per share. As a group, equities research analysts predict that Carter's will post 3.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Carter's

A number of institutional investors have recently modified their holdings of CRI. UMB Bank n.a. grew its position in Carter's by 445.8% in the 4th quarter. UMB Bank n.a. now owns 775 shares of the textile maker's stock valued at $25,000 after purchasing an additional 633 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Carter's by 555.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,115 shares of the textile maker's stock worth $31,000 after buying an additional 945 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Carter's by 202.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,486 shares of the textile maker's stock worth $45,000 after buying an additional 995 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Carter's by 21.8% in the fourth quarter. Hantz Financial Services Inc. now owns 1,577 shares of the textile maker's stock valued at $51,000 after buying an additional 282 shares in the last quarter. Finally, State of Wyoming lifted its stake in shares of Carter's by 1,380.6% in the fourth quarter. State of Wyoming now owns 2,132 shares of the textile maker's stock valued at $69,000 after buying an additional 1,988 shares in the last quarter.

Carter's Company Profile

Carter's, Inc NYSE: CRI is a leading designer and marketer of infant and young children's apparel in North America. Headquartered in Atlanta, Georgia, the company's core business focuses on creating clothing and accessories for babies and children, including bodysuits, sleepwear, layette, outerwear and accessories that blend comfort, safety and style. Carter's flagship brand is complemented by its OshKosh B'gosh line, which offers heritage-inspired designs and durable fabrics for toddlers and young kids.

The company distributes its products through a diversified platform that includes wholesale partnerships with major department stores and mass merchandisers, direct‐to‐consumer e-commerce sites, and an extensive network of company-operated retail stores.

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