Wells Fargo Downgrades Carter's to Market Perform

Brokerage firm Wells Fargo Downgrades its rating on Carter's(NYSE:CRI). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Wells Fargo was issued on Sep 27, 2016.

In a different note, On Aug 8, 2016, Monness Crespi Hardt said it Upgrades its rating on Carter's. The shares have been rated ‘Buy’ by the firm. On Jul 28, 2016, Citigroup said it Maintains its rating on Carter's. In the research note, the firm Lowers the price-target to $108.00 per share. The shares have been rated ‘Neutral’ by the firm. Cowen & Company said it Initiates Coverage on Carter's, according to a research note issued on Jul 13, 2016. The shares have been rated ‘Market Perform’ by the firm.

Carter's (CRI) shares turned negative on Fridays trading session with the shares closing down -0.62 points or -0.71% at a volume of 9,44,059. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $88.18. The peak price level was also seen at $88.18 while the days lowest was $86.66. Finally the shares closed at $86.71. The 52-week high of the shares is $112.58 while the 52-week low is $82.22. According to the latest information available, the market cap of the company is $4,341 M.

Carter's(CRI) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $639.47M. Analysts had an estimated revenue of $636.86M. Earnings per share were $0.72. Analysts had estimated an EPS of $0.66.

Several Insider Transactions has been reported to the SEC. On Aug 11, 2016, Richard F. Westenberger (Chief Financial Officer) sold 2,500 shares at $101.00 per share price.Also, On Mar 15, 2016, Brian Lynch (President, Carter’s, Inc.) sold 7,000 shares at $102.40 per share price.On Mar 3, 2016, Julie D’emilio (Senior Vice President – Sales) sold 7,500 shares at $102.04 per share price, according to the Form-4 filing with the securities and exchange commission.

Carter’s Inc. is a marketer of apparel for babies and young children in the United States. The Company owns two brand names in the children’s apparel industry Carter’s and OshKosh. The Company operates through five business segments: Carter’s retail Carter’s wholesale OshKosh retail OshKosh wholesale and International. It offers multiple product categories including baby sleepwear playclothes and related accessories. As of January 3 2015 the Company had approximately 18000 wholesale locations (including national department stores chain and specialty stores and discount retailers) 855 Company-operated stores and its Websites. As of January 3 2015 the Company operated 531 Carter’s and 200 OshKosh outlet brand and specialty stores in the United States. As of January 3 2015 its products are sold through 124 Company-operated stores in Canada in addition to its international wholesale licensing and online channels.

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