Carter’s (NYSE:CRI) Given New $64.00 Price Target at Citigroup

Carter’s (NYSE:CRI) had its target price dropped by analysts at Citigroup from $66.00 to $64.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “sell” rating on the textile maker’s stock. Citigroup’s price target would indicate a potential downside of 10.53% from the company’s previous close.

A number of other research analysts have also commented on the company. StockNews.com lowered Carter’s from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. Monness Crespi & Hardt lowered Carter’s from a “buy” rating to a “neutral” rating in a research note on Monday, February 26th. Evercore ISI upped their target price on Carter’s from $70.00 to $80.00 and gave the company an “in-line” rating in a research note on Wednesday, February 28th. TheStreet upgraded Carter’s from a “c+” rating to a “b-” rating in a research note on Friday, December 22nd. Finally, UBS Group upped their target price on Carter’s from $76.00 to $79.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, Carter’s has a consensus rating of “Hold” and an average price target of $75.25.

Carter’s Stock Performance

Shares of CRI stock traded up $0.21 during trading hours on Thursday, reaching $71.53. 330,705 shares of the company’s stock were exchanged, compared to its average volume of 765,653. Carter’s has a fifty-two week low of $60.65 and a fifty-two week high of $88.03. The stock has a market capitalization of $2.62 billion, a P/E ratio of 11.40, a P/E/G ratio of 2.10 and a beta of 1.29. The business has a fifty day moving average price of $81.04 and a 200-day moving average price of $74.56. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.59.

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

Insiders Place Their Bets

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

Institutional Trading of Carter’s

Several large investors have recently made changes to their positions in CRI. Raymond James & Associates grew its holdings in shares of Carter’s by 29.7% during the first quarter. Raymond James & Associates now owns 27,235 shares of the textile maker’s stock worth $2,505,000 after purchasing an additional 6,241 shares during the last quarter. US Bancorp DE grew its holdings in shares of Carter’s by 6.2% during the first quarter. US Bancorp DE now owns 4,787 shares of the textile maker’s stock worth $440,000 after purchasing an additional 280 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Carter’s during the first quarter worth $601,000. MetLife Investment Management LLC grew its holdings in shares of Carter’s by 33.4% during the first quarter. MetLife Investment Management LLC now owns 27,317 shares of the textile maker’s stock worth $2,513,000 after purchasing an additional 6,834 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Carter’s by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,490 shares of the textile maker’s stock worth $1,425,000 after purchasing an additional 1,477 shares during the last quarter.

Carter’s Company Profile

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.