Wells Fargo & Company Lowers Carter’s (NYSE:CRI) Price Target to $65.00

Carter’s (NYSE:CRI) had its target price cut by equities research analysts at Wells Fargo & Company from $72.00 to $65.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the textile maker’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 14.28% from the stock’s current price.

Separately, Bank of America dropped their target price on shares of Carter’s from $65.00 to $54.00 and set an “underperform” rating on the stock in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $70.00.

Carter’s Trading Down 0.1 %

Shares of NYSE CRI traded down $0.07 during mid-day trading on Monday, hitting $56.88. The stock had a trading volume of 649,308 shares, compared to its average volume of 937,270. The firm has a market cap of $2.08 billion, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 3.86 and a beta of 1.23. The business has a 50 day moving average price of $66.18 and a two-hundred day moving average price of $65.73. Carter’s has a 1 year low of $54.74 and a 1 year high of $88.03. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 2.09.

Carter’s (NYSE:CRI) last released its quarterly earnings results on Friday, July 26th. The textile maker reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.31. The business had revenue of $564.43 million for the quarter, compared to analysts’ expectations of $566.79 million. Carter’s had a net margin of 8.29% and a return on equity of 28.65%. On average, equities analysts anticipate that Carter’s will post 4.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Carter’s

A number of hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. raised its position in Carter’s by 44.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,209,097 shares of the textile maker’s stock worth $74,928,000 after buying an additional 371,681 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Carter’s by 11.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,062,890 shares of the textile maker’s stock valued at $65,868,000 after purchasing an additional 112,947 shares during the last quarter. American Century Companies Inc. increased its position in shares of Carter’s by 29.2% during the 2nd quarter. American Century Companies Inc. now owns 757,116 shares of the textile maker’s stock valued at $46,918,000 after purchasing an additional 170,960 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Carter’s by 50.7% during the 2nd quarter. AQR Capital Management LLC now owns 555,568 shares of the textile maker’s stock valued at $34,212,000 after purchasing an additional 186,894 shares during the last quarter. Finally, Wasatch Advisors LP purchased a new stake in shares of Carter’s during the 1st quarter valued at about $45,011,000.

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.