Carter’s Inc. (CRI) Upgraded to Hold at Zacks Investment Research
Carter’s Inc. (NYSE:CRI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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 equities research analysts also recently commented on CRI. Cowen and Company initiated coverage on shares of Carter’s in a research note on Wednesday, July 13th. They issued a “market perform” rating and a $110.00 target price for the company. Citigroup Inc. lowered their target price on shares of Carter’s from $108.00 to $106.00 and set a “neutral” rating for the company in a research note on Thursday, July 28th. Monness Crespi & Hardt raised shares of Carter’s from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company in a research note on Monday, August 8th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Carter’s in a research note on Friday, September 9th. Finally, FBR & Co reaffirmed a “buy” rating and issued a $111.00 target price on shares of Carter’s in a research note on Friday, September 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $109.00.
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Carter’s (NYSE:CRI) traded down 0.58% during midday trading on Thursday, hitting $87.29. 561,710 shares of the company traded hands. The firm has a market capitalization of $4.37 billion, a PE ratio of 18.76 and a beta of 0.66. The stock’s 50-day moving average is $93.30 and its 200-day moving average is $101.06. Carter’s has a 12-month low of $82.22 and a 12-month high of $112.58.
Carter’s (NYSE:CRI) last issued its earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.06. Carter’s had a net margin of 7.86% and a return on equity of 29.33%. The firm earned $639 million during the quarter, compared to the consensus estimate of $636.86 million. During the same quarter in the prior year, the firm earned $0.73 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts anticipate that Carter’s will post $5.07 EPS for the current fiscal year.
In related news, CFO Richard F. Westenberger sold 2,500 shares of the stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $101.00, for a total transaction of $252,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in CRI. Aperio Group LLC boosted its stake in shares of Carter’s by 15.1% in the first quarter. Aperio Group LLC now owns 7,238 shares of the company’s stock worth $763,000 after buying an additional 951 shares in the last quarter. CIBC World Markets Inc. purchased a new stake in shares of Carter’s during the first quarter worth approximately $284,000. Ngam Advisors L.P. boosted its stake in shares of Carter’s by 11.8% in the first quarter. Ngam Advisors L.P. now owns 15,338 shares of the company’s stock worth $1,616,000 after buying an additional 1,613 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Carter’s by 93.7% in the first quarter. BlackRock Inc. now owns 43,074 shares of the company’s stock worth $4,539,000 after buying an additional 20,832 shares in the last quarter. Finally, BlackRock Group LTD boosted its stake in shares of Carter’s by 51.9% in the first quarter. BlackRock Group LTD now owns 76,519 shares of the company’s stock worth $8,063,000 after buying an additional 26,152 shares in the last quarter. Institutional investors and hedge funds own 90.76% of the company’s stock.
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.
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