Carter's (NYSE:CRI) Downgraded to Underweight Rating by Wells Fargo & Company

Carter's (NYSE:CRI - Get Free Report) was downgraded by equities research analysts at Wells Fargo & Company from an "equal weight" rating to an "underweight" rating in a report issued on Wednesday, MarketBeat Ratings reports. They presently have a $25.00 price target on the textile maker's stock, down from their previous price target of $40.00. Wells Fargo & Company's price objective would indicate a potential downside of 26.27% from the company's current price.

CRI has been the topic of several other reports. Citigroup dropped their target price on Carter's from $50.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Barclays initiated coverage on shares of Carter's in a report on Monday, April 28th. They issued an "underweight" rating and a $25.00 price objective for the company. Finally, UBS Group cut their target price on Carter's from $37.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company's stock. According to data from MarketBeat.com, Carter's presently has a consensus rating of "Reduce" and an average price target of $36.20.

Carter's Trading Down 3.0 %

CRI stock traded down $1.05 during trading on Wednesday, reaching $33.91. The company had a trading volume of 559,713 shares, compared to its average volume of 1,237,356. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 0.96. Carter's has a 52 week low of $32.04 and a 52 week high of $72.11. The business has a 50 day moving average of $38.63 and a 200 day moving average of $48.84. The company has a market cap of $1.24 billion, a P/E ratio of 5.39, a PEG ratio of 3.37 and a beta of 1.05.

Carter's (NYSE:CRI - Get Free Report) last released its earnings results on Friday, April 25th. The textile maker reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.13. The company had revenue of $291.09 million during the quarter, compared to analysts' expectations of $624.86 million. Carter's had a return on equity of 27.15% and a net margin of 8.11%. The firm's revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. As a group, sell-side analysts forecast that Carter's will post 5.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carter's

Several hedge funds and other institutional investors have recently modified their holdings of CRI. Easterly Investment Partners LLC grew its holdings in shares of Carter's by 90.5% in the first quarter. Easterly Investment Partners LLC now owns 61,468 shares of the textile maker's stock worth $2,514,000 after acquiring an additional 29,200 shares during the period. Kingsview Wealth Management LLC bought a new stake in shares of Carter's during the 1st quarter valued at about $3,295,000. Alps Advisors Inc. increased its position in shares of Carter's by 7.7% during the 1st quarter. Alps Advisors Inc. now owns 163,727 shares of the textile maker's stock valued at $6,696,000 after purchasing an additional 11,773 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Carter's by 313.1% in the 1st quarter. Allworth Financial LP now owns 723 shares of the textile maker's stock worth $28,000 after purchasing an additional 548 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Carter's by 39.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 21,400 shares of the textile maker's stock worth $875,000 after purchasing an additional 6,070 shares during the period.

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.