Carter’s (NYSE:CRI) Price Target Cut to $64.00

Carter’s (NYSE:CRI) had its price target dropped by Citigroup from $66.00 to $64.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “sell” rating on the textile maker’s stock. Citigroup’s price target suggests a potential downside of 10.80% from the stock’s previous close.

Several other equities analysts also recently issued reports on the company. Evercore ISI boosted their price objective on Carter’s from $70.00 to $80.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. TheStreet upgraded Carter’s from a “c+” rating to a “b-” rating in a research report on Friday, December 22nd. UBS Group boosted their price objective on Carter’s from $76.00 to $79.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Wedbush boosted their price objective on Carter’s from $67.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Finally, StockNews.com downgraded Carter’s from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $75.25.

Carter’s Stock Up 0.5 %

NYSE:CRI opened at $71.75 on Thursday. The firm has a market capitalization of $2.63 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 2.08 and a beta of 1.29. The stock has a 50 day moving average of $80.66 and a 200-day moving average of $74.56. Carter’s has a 52 week low of $60.65 and a 52 week high of $88.03. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.59.

Carter’s (NYSE:CRI) last posted its earnings results on Tuesday, February 27th. The textile maker reported $2.76 EPS for the quarter, beating the consensus estimate of $2.52 by $0.24. The company had revenue of $858.00 million during the quarter, compared to analyst estimates of $867.81 million. Carter’s had a return on equity of 28.79% and a net margin of 7.89%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.29 earnings per share. Analysts predict that Carter’s will post 6.52 EPS for the current year.

Insiders Place Their Bets

In related news, Director Mark Hipp sold 1,875 shares of Carter’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $81.74, for a total value of $153,262.50. Following the transaction, the director now directly owns 10,216 shares in the company, valued at approximately $835,055.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Coppell Advisory Solutions Corp. acquired a new position in Carter’s during the fourth quarter valued at $35,000. Ronald Blue Trust Inc. lifted its position in shares of Carter’s by 366.7% in the third quarter. Ronald Blue Trust Inc. now owns 490 shares of the textile maker’s stock worth $36,000 after purchasing an additional 385 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Carter’s during the fourth quarter worth approximately $37,000. Parkside Financial Bank & Trust grew its position in Carter’s by 159.4% during the first quarter. Parkside Financial Bank & Trust now owns 415 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 255 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Carter’s by 28.6% in the 4th quarter. Blue Trust Inc. now owns 630 shares of the textile maker’s stock valued at $44,000 after buying an additional 140 shares during the period.

About Carter’s

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Little Planet, and other brands in the United States and internationally. It operates through three segments: U.S.