Carter's (NYSE:CRI) Price Target Cut to $26.00 by Analysts at UBS Group

Key Points

• UBS Group has reduced its price target for Carter's (NYSE: CRI) from $32.00 to $26.00, indicating a potential downside of 2.13% from the current stock price and maintaining a "neutral" rating.
• Carter's reported a net margin of 4.79% and earnings per share (EPS) of $0.17 for the last quarter, missing consensus estimates by $0.26.
• Recent changes in institutional holdings reflect increased investment activity, with firms like Raymond James and GAMMA Investing boosting their stakes in Carter's stock.

Carter's (NYSE:CRI - Get Free Report) had its price objective dropped by equities researchers at UBS Group from $32.00 to $26.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the textile maker's stock. UBS Group's price target would suggest a potential downside of 2.13% from the company's current price.

CRI has been the subject of several other research reports. Wells Fargo & Company raised their price objective on shares of Carter's from $25.00 to $28.00 and gave the stock an "underweight" rating in a report on Wednesday, May 14th. Barclays started coverage on shares of Carter's in a report on Monday, April 28th. They set an "underweight" rating and a $25.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, Carter's currently has an average rating of "Reduce" and a consensus target price of $35.60.

Carter's Price Performance

NYSE:CRI traded up $0.27 during mid-day trading on Monday, hitting $26.57. The company's stock had a trading volume of 3,496,483 shares, compared to its average volume of 1,557,870. Carter's has a fifty-two week low of $23.50 and a fifty-two week high of $71.99. The company has a current ratio of 2.20, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $968.09 million, a price-to-earnings ratio of 7.05 and a beta of 0.98. The stock has a fifty day moving average of $31.64 and a 200-day moving average of $39.14.

Carter's (NYSE:CRI - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.26). Carter's had a return on equity of 20.68% and a net margin of 4.79%. The business had revenue of $585.31 million during the quarter, compared to analyst estimates of $563.24 million. During the same period last year, the company earned $0.76 EPS. The business's revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities analysts forecast that Carter's will post 5.15 EPS for the current fiscal year.

Institutional Trading of Carter's

Hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in shares of Carter's during the fourth quarter valued at approximately $1,609,000. GAMMA Investing LLC grew its stake in shares of Carter's by 38.2% during the first quarter. GAMMA Investing LLC now owns 2,004 shares of the textile maker's stock valued at $82,000 after purchasing an additional 554 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Carter's by 12.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,790 shares of the textile maker's stock valued at $1,205,000 after purchasing an additional 3,243 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in Carter's by 20.8% in the first quarter. Crossmark Global Holdings Inc. now owns 7,170 shares of the textile maker's stock valued at $293,000 after acquiring an additional 1,234 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Carter's in the first quarter valued at approximately $250,000.

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.