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

Carter's (NYSE:CRI - Get Free Report) was downgraded by investment analysts at Wells Fargo & Company from an "equal weight" rating to an "underweight" rating in a research note issued on Wednesday, Marketbeat Ratings reports. They currently have a $25.00 price objective on the textile maker's stock, down from their previous price objective of $40.00. Wells Fargo & Company's price target points to a potential downside of 26.32% from the company's previous close.

Several other equities analysts have also recently issued reports on CRI. UBS Group decreased their price objective on Carter's from $37.00 to $32.00 and set a "neutral" rating for the company in a report on Monday. Citigroup lowered their price target on shares of Carter's from $50.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Finally, Barclays started coverage on Carter's in a research note on Monday. They set an "underweight" rating and a $25.00 target price for the company. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $36.20.

Carter's Price Performance

NYSE CRI opened at $33.93 on Wednesday. The firm's fifty day simple moving average is $39.57 and its two-hundred day simple moving average is $49.64. The firm has a market capitalization of $1.22 billion, a P/E ratio of 5.39, a P/E/G ratio of 3.37 and a beta of 1.09. The company has a current ratio of 2.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60. Carter's has a 12-month low of $32.12 and a 12-month high of $72.11.

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

Hedge Funds Weigh In On Carter's

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC increased its position in Carter's by 36.9% during the fourth quarter. Venturi Wealth Management LLC now owns 994 shares of the textile maker's stock worth $54,000 after buying an additional 268 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Carter's by 114.4% in the fourth quarter. Jones Financial Companies Lllp now owns 506 shares of the textile maker's stock valued at $27,000 after acquiring an additional 270 shares in the last quarter. M&T Bank Corp grew its holdings in Carter's by 7.2% during the fourth quarter. M&T Bank Corp now owns 4,073 shares of the textile maker's stock worth $221,000 after acquiring an additional 272 shares during the period. Hsbc Holdings PLC lifted its holdings in Carter's by 7.1% in the fourth quarter. Hsbc Holdings PLC now owns 5,217 shares of the textile maker's stock valued at $279,000 after acquiring an additional 347 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in Carter's by 1.7% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 26,147 shares of the textile maker's stock worth $1,417,000 after buying an additional 448 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.