Wells Fargo & Company Issues Pessimistic Forecast for Carter’s (NYSE:CRI) Stock Price

Carter’s (NYSE:CRI) had its target price decreased by investment analysts at Wells Fargo & Company from $42.00 to $30.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the textile maker’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 5.77% from the stock’s previous close.

Several other research analysts have also recently issued reports on CRI. Weiss Ratings upgraded Carter’s from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Zacks Research upgraded Carter’s from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 21st. UBS Group reiterated a “buy” rating on shares of Carter’s in a research 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. Finally, Citigroup reiterated a “buy” rating on shares of Carter’s in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Carter’s presently has an average rating of “Moderate Buy” and a consensus target price of $39.38.

Carter’s Price Performance

NYSE CRI opened at $31.84 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.47 and a quick ratio of 1.50. The stock’s fifty day moving average price is $33.57 and its 200 day moving average price is $36.54. Carter’s has a 1 year low of $27.86 and a 1 year high of $44.44. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 5.96, a PEG ratio of 3.61 and a beta of 0.84.

Carter’s (NYSE:CRI) last issued its earnings results on Friday, July 31st. The textile maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.20. Carter’s had a return on equity of 12.78% and a net margin of 6.55%. The company had revenue of $615.49 million during the quarter, compared to analyst estimates of $605.68 million. During the same quarter last year, the business posted $0.17 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts forecast that Carter’s will post 3.28 earnings per share for the current year.

Institutional Investors Weigh In On Carter’s

Hedge funds and other institutional investors have recently made changes to their positions in the company. Elevation Wealth Partners LLC grew its position in shares of Carter’s by 3,889.3% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,117 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 1,089 shares during the period. Nykredit A S purchased a new position in shares of Carter’s in the 2nd quarter valued at about $72,000. Versant Capital Management Inc increased its stake in shares of Carter’s by 39.4% in the 3rd quarter. Versant Capital Management Inc now owns 3,711 shares of the textile maker’s stock valued at $116,000 after purchasing an additional 1,049 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Carter’s in the 1st quarter valued at about $119,000. Finally, Pictet Asset Management Holding SA acquired a new position in Carter’s in the 1st quarter worth about $212,000.

Carter’s Company Profile

Carter’s, Inc (NYSE:CRI) is a designer, marketer and retailer of apparel and related products for babies and young children. The company’s offerings include bodysuits, sleepwear, playwear, outerwear, footwear, accessories, gifts, bedding and other products for infants, toddlers and young children.

Carter’s markets products primarily under the Carter’s and OshKosh B’gosh brands, as well as Skip Hop, which offers baby and children’s gear, accessories and related products. The company sells through its own retail stores and websites, wholesale partners, department stores, mass merchants and other retailers.

The company traces its history to 1865, when it was established as the William Carter Company.