Carter’s, Inc. (CRI) Earns Buy Rating from Analysts at Bank of America Corporation
Bank of America Corporation initiated coverage on shares of Carter’s, Inc. (NYSE:CRI) in a report released on Friday, MarketBeat.com reports. The firm set a “buy” rating and a $106.00 price target on the textile maker’s stock. Bank of America Corporation’s target price suggests a potential upside of 14.63% from the stock’s previous close.
CRI has been the subject of several other research reports. Oppenheimer Holdings, Inc. set a $105.00 price objective on Carter’s and gave the company a “buy” rating in a report on Wednesday, June 14th. BidaskClub cut Carter’s from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Goldman Sachs Group, Inc. (The) assumed coverage on Carter’s in a report on Tuesday, September 5th. They issued a “buy” rating and a $105.00 price objective for the company. Macquarie assumed coverage on Carter’s in a report on Tuesday, August 29th. They issued an “outperform” rating and a $110.00 price objective for the company. Finally, Cowen and Company set a $92.00 price objective on Carter’s and gave the company a “hold” rating in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $101.92.
Shares of Carter’s (NYSE:CRI) traded up 0.73% during mid-day trading on Friday, hitting $92.47. The company’s stock had a trading volume of 629,246 shares. Carter’s has a 1-year low of $77.94 and a 1-year high of $98.88. The company has a 50-day moving average price of $88.08 and a 200-day moving average price of $88.09. The stock has a market cap of $4.42 billion, a PE ratio of 18.13 and a beta of 0.30.
Carter’s (NYSE:CRI) last released its earnings results on Thursday, July 27th. The textile maker reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.09. The firm had revenue of $692.10 million during the quarter, compared to analysts’ expectations of $681.08 million. Carter’s had a return on equity of 33.18% and a net margin of 7.74%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. Analysts predict that Carter’s will post $5.61 EPS for the current fiscal year.
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In other news, Director Paul Fulton sold 8,643 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $87.58, for a total transaction of $756,953.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas E. Whiddon sold 17,500 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $90.35, for a total transaction of $1,581,125.00. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CRI. BlackRock Inc. increased its holdings in shares of Carter’s by 10,013.9% during the first quarter. BlackRock Inc. now owns 4,038,573 shares of the textile maker’s stock worth $362,664,000 after purchasing an additional 3,998,642 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Carter’s by 1,216.2% during the second quarter. Janus Henderson Group PLC now owns 3,399,870 shares of the textile maker’s stock worth $302,418,000 after purchasing an additional 3,141,568 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Carter’s by 1,428.4% during the second quarter. Lazard Asset Management LLC now owns 2,289,358 shares of the textile maker’s stock worth $203,638,000 after purchasing an additional 2,139,567 shares during the period. Wellington Management Group LLP increased its holdings in shares of Carter’s by 90.3% during the first quarter. Wellington Management Group LLP now owns 1,254,634 shares of the textile maker’s stock worth $112,665,000 after purchasing an additional 595,327 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Carter’s during the first quarter worth approximately $30,460,000. 97.27% of the stock is currently owned by institutional investors.
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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