Carter’s Inc. (NYSE:CRI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Carter’s, Inc. is a leading provider of apparel and related products exclusively for babies and young children. The Company owns the Carter’s and OshKosh B’gosh brands, two of the most recognized brands in the marketplace. These brands are sold in leading department stores, national chains, and specialty retailers domestically and internationally and through Company-operated stores and on-line at carters.com and oshkoshbgosh.com. The Company’s Child of Mine brand is available at Walmart, and its Genuine Kids, Just One You, and Precious Firsts brands are available at Target. “
Several other research firms have also recently commented on CRI. Cowen and Company began coverage on Carter’s in a research report on Wednesday, July 13th. They set a “market perform” rating and a $110.00 price objective on the stock. Citigroup Inc. dropped their price objective on Carter’s from $108.00 to $106.00 and set a “neutral” rating on the stock in a research report on Thursday, July 28th. Monness Crespi & Hardt raised Carter’s from a “neutral” rating to a “buy” rating and set a $118.00 price objective on the stock in a research report on Monday, August 8th. FBR & Co reaffirmed a “buy” rating and set a $111.00 price objective on shares of Carter’s in a research report on Friday, September 16th. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Carter’s in a research report on Friday, September 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $109.00.
Carter’s (NYSE:CRI) traded down 0.58% on Thursday, reaching $87.29. The company’s stock had a trading volume of 561,710 shares. Carter’s has a one year low of $82.22 and a one year high of $112.58. The stock has a market cap of $4.37 billion, a P/E ratio of 18.76 and a beta of 0.66. The stock has a 50-day moving average of $93.30 and a 200-day moving average of $101.06.
Carter’s (NYSE:CRI) last released its earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. Carter’s had a return on equity of 29.33% and a net margin of 7.86%. The firm had revenue of $639 million for the quarter, compared to analysts’ expectations of $636.86 million. During the same period in the prior year, the firm posted $0.73 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts predict that Carter’s will post $5.07 EPS for the current fiscal year.
In other news, CFO Richard F. Westenberger sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $101.00, for a total value of $252,500.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.10% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CRI. Pacific Global Investment Management CO bought a new position in Carter’s during the first quarter valued at approximately $226,000. RPg Family Wealth Advisory LLC increased its position in Carter’s by 1.8% in the first quarter. RPg Family Wealth Advisory LLC now owns 45,388 shares of the company’s stock valued at $4,783,000 after buying an additional 792 shares during the period. State Street Corp increased its position in Carter’s by 1.2% in the first quarter. State Street Corp now owns 1,346,385 shares of the company’s stock valued at $141,885,000 after buying an additional 16,154 shares during the period. OMERS ADMINISTRATION Corp bought a new position in Carter’s during the first quarter valued at approximately $1,054,000. Finally, M&T Bank Corp increased its position in Carter’s by 15.9% in the first quarter. M&T Bank Corp now owns 6,393 shares of the company’s stock valued at $674,000 after buying an additional 879 shares during the period. 90.76% of the stock is currently owned by hedge funds and other institutional investors.
Carter’s Company Profile
Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International. Its international segment includes Company-operated retail stores, wholesale and online operations in addition to royalty income from its international licensees.