Carter’s (NYSE:CRI) Stock Gets Downgrade from Wall Street Zen

Carter’s (NYSE:CRI) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

CRI has been the topic of several other reports. Bank of America cut their price target on shares of Carter’s from $30.00 to $28.00 and set an “underperform” rating on the stock in a report on Monday, November 2nd. UBS Group reduced their price objective on shares of Carter’s from $38.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, November 2nd. Capital One Financial set a $40.00 price objective on shares of Carter’s in a research note on Tuesday, September 8th. Needham & Company LLC restated a “hold” rating on shares of Carter’s in a research report on Tuesday, October 20th. Finally, BMO Capital Markets initiated coverage on Carter’s in a research note on Tuesday, September 8th. They set an “outperform” rating and a $40.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $38.62.

Carter’s Stock Down 0.0%

NYSE CRI opened at $32.01 on Friday. The company has a quick ratio of 1.63, a current ratio of 2.78 and a debt-to-equity ratio of 0.54. The company has a fifty day moving average of $31.78 and a two-hundred day moving average of $36.18. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 5.32, a PEG ratio of 3.67 and a beta of 0.85. Carter’s has a 52 week low of $27.86 and a 52 week high of $44.44.

Carter’s (NYSE:CRI) last posted its quarterly earnings data on Friday, October 30th. The textile maker reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.18. The business had revenue of $752.46 million for the quarter, compared to analysts’ expectations of $747.34 million. Carter’s had a net margin of 7.40% and a return on equity of 13.25%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 earnings per share. On average, analysts predict that Carter’s will post 3.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Maryland State Retirement & Pension System grew its stake in Carter’s by 54.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 8,199 shares of the textile maker’s stock worth $257,000 after acquiring an additional 2,890 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Carter’s by 1.7% during the third quarter. Illinois Municipal Retirement Fund now owns 19,367 shares of the textile maker’s stock worth $606,000 after acquiring an additional 317 shares during the period. Fulcrum Asset Management LLP increased its position in shares of Carter’s by 2,314.5% during the third quarter. Fulcrum Asset Management LLP now owns 1,497 shares of the textile maker’s stock worth $47,000 after acquiring an additional 1,435 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Carter’s during the third quarter valued at approximately $8,073,000. Finally, Alps Advisors Inc. bought a new stake in shares of Carter’s during the third quarter valued at approximately $596,000.

About Carter’s

Carter’s, Inc (NYSE:CRI) is a major designer, source and marketer of apparel and related products for babies and young children. The company offers clothing, accessories, footwear, gifts and other products for infants, toddlers and children through brands including Carter’s, OshKosh B’gosh, Little Planet and Skip Hop.

Founded in 1865, Carter’s has built a long-standing presence in the children’s apparel market. Its products are sold through company-operated retail stores, e-commerce websites and wholesale partners, including department stores, mass merchants and specialty retailers.