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

Key Points

• Wall Street Zen downgraded Carter’s from “strong buy” to “buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $40.88.
• Carter’s shares opened at $31.25, below their 50-day and 200-day moving averages, and have traded between $27.15 and $44.44 over the past year.
• The company exceeded quarterly expectations, reporting $0.26 in EPS versus a $0.06 estimate and $615.49 million in revenue, up 5.2% year over year.

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

A number of other analysts have also recently issued reports on CRI. UBS Group reissued a "buy" rating on shares of Carter's in a report on Wednesday, July 8th. Capital One Financial set a $40.00 price target on shares of Carter's in a report on Tuesday, September 8th. Citigroup restated a "buy" rating on shares of Carter's in a research report on Tuesday, July 21st. Wells Fargo & Company upgraded shares of Carter's from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $30.00 to $42.00 in a research note on Wednesday, June 17th. Finally, Zacks Research raised shares of Carter's from a "hold" rating to a "strong-buy" rating in a report on Friday, August 21st. 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 issued a Sell rating to the company's stock. According to data from MarketBeat, Carter's currently has an average rating of "Moderate Buy" and a consensus target price of $40.88.

Carter's Price Performance

Carter's stock opened at $31.25 on Friday. The business's 50 day simple moving average is $35.16 and its 200 day simple moving average is $36.74. Carter's has a 12 month low of $27.15 and a 12 month high of $44.44. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 5.85, a PEG ratio of 3.41 and a beta of 0.84. The company has a current ratio of 2.47, a quick ratio of 1.50 and a debt-to-equity ratio of 0.55.

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

Institutional Investors Weigh In On Carter's

A number of institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. lifted its stake in Carter's by 21.8% in the fourth quarter. Hantz Financial Services Inc. now owns 1,577 shares of the textile maker's stock worth $51,000 after purchasing an additional 282 shares during the last quarter. Nykredit A S purchased a new position in shares of Carter's in the second quarter worth about $72,000. Public Employees Retirement System of Ohio bought a new stake in shares of Carter's in the 1st quarter valued at about $119,000. Pictet Asset Management Holding SA bought a new stake in shares of Carter's in the 1st quarter valued at about $212,000. Finally, Integrated Advisors Network LLC purchased a new stake in Carter's during the 1st quarter valued at about $216,000.

About Carter's

Carter's, Inc NYSE: CRI is a specialty retailer and branded marketer of apparel, accessories and related products for babies and young children. The company's portfolio includes Carter's, OshKosh B'gosh, Skip Hop and Little Planet, offering items such as bodysuits, sleepwear, playwear, footwear, outerwear, accessories, baby gear and nursery products.

Founded in 1865 by William Carter, the company has developed into a major children's apparel business. Carter's products are sold through company-operated retail stores, e-commerce websites and wholesale partners, including department stores, mass merchants, specialty retailers and other distribution channels.

The company primarily serves customers in the United States and Canada, while also reaching international markets through select wholesale, licensing and distribution arrangements.

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