FBR & Co Analysts Give Carter’s, Inc. (CRI) a $111.00 Price Target
Carter’s, Inc. (NYSE:CRI) has been given a $111.00 target price by analysts at FBR & Co in a research note issued on Friday. The brokerage presently has a “buy” rating on the textile maker’s stock. FBR & Co’s target price points to a potential upside of 25.82% from the company’s current price.
The analysts wrote, “We looked at the potential impact to CRI revenues due to Amazon and Skip Hop for 2017 and conclude that 2017 guidance is conservative with little upside included for both growth initiatives. We believe this provides a cushion to CRI guidance if traditional wholesale (dept stores, mass) is worse than expected (which we do not expect based on strong 1Q replenishment), and potential upside opportunity if the 1Q trends continue the rest of the year. CRI stock has been pressured by concerns over exposure to dept stores, but we believe this weakness is more than offset with Amazon/Skip Hop growth. Additionally, we believe 2Q is trending significantly better than 1Q based on solid spendtrend data for children’s (avg +6% in April/May) vs. -2.5% in 1Q17. We expect CRI to see multiple/stock expansion (CRI -15% over past year vs. SP500 +17%), as we believe CRI will report a strong 2Q (late July).””
CRI has been the topic of several other reports. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $105.00 price target on shares of Carter’s in a report on Wednesday, April 26th. Zacks Investment Research upgraded Carter’s from a “sell” rating to a “hold” rating in a report on Friday, February 24th. CL King restated a “hold” rating on shares of Carter’s in a report on Thursday, June 8th. Finally, Stifel Nicolaus boosted their price target on Carter’s from $80.00 to $84.00 and gave the stock a “hold” rating in a report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $102.55.
Shares of Carter’s (CRI) traded up 0.57% on Friday, reaching $88.72. 260,707 shares of the company traded hands. The company has a market capitalization of $4.29 billion, a P/E ratio of 17.72 and a beta of 0.31. The firm’s 50 day moving average is $86.86 and its 200 day moving average is $87.73. Carter’s has a one year low of $77.94 and a one year high of $112.58.
Carter’s (NYSE:CRI) last released its earnings results on Thursday, April 27th. The textile maker reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.13. Carter’s had a return on equity of 32.77% and a net margin of 7.82%. The firm had revenue of $732.80 million for the quarter, compared to analysts’ expectations of $713.98 million. During the same quarter in the previous year, the business posted $1.05 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts expect that Carter’s will post $5.62 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Tuesday, May 30th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.68%. The ex-dividend date was Thursday, May 25th. Carter’s’s dividend payout ratio (DPR) is presently 29.48%.
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In other Carter’s news, SVP Jill Wilson sold 4,288 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $92.10, for a total value of $394,924.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard F. Westenberger sold 3,150 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $93.13, for a total value of $293,359.50. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Carter’s by 10,013.9% in the first quarter. BlackRock Inc. now owns 4,038,573 shares of the textile maker’s stock valued at $362,664,000 after buying an additional 3,998,642 shares in the last quarter. Vanguard Group Inc. increased its stake in Carter’s by 2.8% in the first quarter. Vanguard Group Inc. now owns 3,653,088 shares of the textile maker’s stock valued at $328,048,000 after buying an additional 99,586 shares in the last quarter. Valinor Management L.P. increased its stake in Carter’s by 1.1% in the first quarter. Valinor Management L.P. now owns 1,414,121 shares of the textile maker’s stock valued at $126,988,000 after buying an additional 15,200 shares in the last quarter. SRS Investment Management LLC increased its stake in Carter’s by 28.3% in the first quarter. SRS Investment Management LLC now owns 1,376,173 shares of the textile maker’s stock valued at $123,580,000 after buying an additional 303,696 shares in the last quarter. Finally, State Street Corp increased its stake in Carter’s by 1.3% in the first quarter. State Street Corp now owns 1,299,438 shares of the textile maker’s stock valued at $116,700,000 after buying an additional 16,250 shares in the last quarter. Hedge funds and other institutional investors own 99.63% 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 owns two brand names in the children’s apparel industry, Carter’s and OshKosh B’gosh (OshKosh). The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International.
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