Carter’s (NYSE:CRI) Price Target Cut to $48.00 by Analysts at Wells Fargo & Company

Carter’s (NYSE:CRI) had its price objective cut by Wells Fargo & Company from $65.00 to $48.00 in a research note released on Wednesday,Benzinga reports. They currently have an equal weight rating on the textile maker’s stock.

Separately, Citigroup upgraded Carter’s from a “sell” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $49.00.

Carter’s Stock Down 2.0 %

Shares of NYSE CRI opened at $41.30 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 0.96. The company has a 50-day moving average price of $52.30 and a 200-day moving average price of $58.00. The stock has a market capitalization of $1.49 billion, a P/E ratio of 6.56, a P/E/G ratio of 3.37 and a beta of 1.21. Carter’s has a 1 year low of $40.76 and a 1 year high of $88.03.

Carter’s (NYSE:CRI) last released its quarterly earnings results on Tuesday, February 25th. The textile maker reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.52. The business had revenue of $859.70 million during the quarter, compared to the consensus estimate of $835.82 million. Carter’s had a return on equity of 27.15% and a net margin of 8.11%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.76 EPS. On average, equities research analysts forecast that Carter’s will post 5.15 EPS for the current fiscal year.

Carter’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 7.75%. Carter’s’s payout ratio is presently 62.62%.

Institutional Trading of Carter’s

A number of institutional investors and hedge funds have recently modified their holdings of CRI. Dynamic Technology Lab Private Ltd bought a new position in Carter’s in the 3rd quarter valued at $683,000. Hotchkis & Wiley Capital Management LLC grew its position in Carter’s by 79.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 152,560 shares of the textile maker’s stock valued at $9,913,000 after buying an additional 67,460 shares during the period. Harbor Capital Advisors Inc. increased its holdings in Carter’s by 48.6% during the third quarter. Harbor Capital Advisors Inc. now owns 81,435 shares of the textile maker’s stock worth $5,292,000 after buying an additional 26,650 shares during the last quarter. Allianz Asset Management GmbH raised its position in Carter’s by 40.5% in the fourth quarter. Allianz Asset Management GmbH now owns 591,246 shares of the textile maker’s stock worth $32,040,000 after acquiring an additional 170,528 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Carter’s by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,171,810 shares of the textile maker’s stock valued at $76,144,000 after acquiring an additional 42,589 shares during the last quarter.

About Carter’s

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.