Citigroup Lowers Carter’s (NYSE:CRI) Price Target to $45.00

Carter’s (NYSE:CRI) had its price objective reduced by equities research analysts at Citigroup from $50.00 to $45.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the textile maker’s stock. Citigroup’s price objective would suggest a potential upside of 1.50% from the stock’s previous close.

Separately, Wells Fargo & Company lowered their price target on Carter’s from $65.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $61.20.

Carter’s Stock Performance

Carter’s stock traded up $0.67 during mid-day trading on Wednesday, hitting $44.34. The company had a trading volume of 411,841 shares, compared to its average volume of 1,013,905. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 7.04, a P/E/G ratio of 3.37 and a beta of 1.21. Carter’s has a 12-month low of $42.55 and a 12-month high of $88.03. The company’s fifty day moving average is $53.10 and its 200-day moving average is $58.37. 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 (NYSE:CRI) last released its quarterly earnings data on Tuesday, February 25th. The textile maker reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.52. The company had revenue of $859.70 million during the quarter, compared to analysts’ expectations of $835.82 million. Carter’s had a net margin of 8.11% and a return on equity of 27.15%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.76 earnings per share. Equities research analysts predict that Carter’s will post 5.15 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Venturi Wealth Management LLC increased its stake in Carter’s by 36.9% during the 4th quarter. Venturi Wealth Management LLC now owns 994 shares of the textile maker’s stock worth $54,000 after buying an additional 268 shares in the last quarter. Covestor Ltd boosted its stake in shares of Carter’s by 15.3% in the third quarter. Covestor Ltd now owns 2,031 shares of the textile maker’s stock worth $132,000 after acquiring an additional 270 shares during the last quarter. Jones Financial Companies Lllp boosted its stake 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 worth $27,000 after acquiring an additional 270 shares during the last quarter. M&T Bank Corp increased its position in shares of 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 purchasing an additional 272 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in Carter’s by 7.1% in the 4th quarter. Hsbc Holdings PLC now owns 5,217 shares of the textile maker’s stock valued at $279,000 after purchasing an additional 347 shares during 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.