Carter’s, Inc. (CRI) Upgraded to Buy at Zacks Investment Research
Carter’s, Inc. (NYSE:CRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage currently has a $110.00 target price on the textile maker’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.02% from the company’s previous close.
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. “
Other equities research analysts have also recently issued reports about the company. FBR & Co reaffirmed a “buy” rating and issued a $111.00 price objective on shares of Carter’s in a research note on Thursday. Citigroup Inc. lifted their price objective on Carter’s from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Friday. BidaskClub cut Carter’s from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Bank of America Corporation began coverage on Carter’s in a research note on Friday, September 15th. They issued a “buy” rating and a $106.00 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 research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. Carter’s currently has an average rating of “Buy” and an average target price of $104.09.
Carter’s (CRI) traded down 0.47% during trading on Monday, reaching $97.33. The company had a trading volume of 468,499 shares. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 19.09 and a beta of 0.34. The company’s 50-day moving average is $94.36 and its 200 day moving average is $89.39. Carter’s has a 52 week low of $77.94 and a 52 week high of $99.75.
Carter’s (NYSE:CRI) last issued its quarterly earnings data on Thursday, October 26th. The textile maker reported $1.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.05. Carter’s had a return on equity of 33.38% and a net margin of 7.69%. The business had revenue of $948.23 million during the quarter, compared to analysts’ expectations of $950.64 million. During the same period in the previous year, the firm posted $1.61 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. Equities analysts anticipate that Carter’s will post $5.63 EPS for the current year.
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In related news, Director Thomas E. Whiddon sold 17,500 shares of Carter’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $90.35, for a total value of $1,581,125.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Fulton sold 8,643 shares of Carter’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $87.58, for a total value of $756,953.94. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CRI. UBS Asset Management Americas Inc. boosted its holdings in Carter’s by 15.0% in the first quarter. UBS Asset Management Americas Inc. now owns 31,443 shares of the textile maker’s stock valued at $2,824,000 after purchasing an additional 4,097 shares during the period. Alliancebernstein L.P. boosted its holdings in Carter’s by 1.2% in the first quarter. Alliancebernstein L.P. now owns 38,455 shares of the textile maker’s stock valued at $3,453,000 after purchasing an additional 465 shares during the period. OppenheimerFunds Inc. boosted its holdings in Carter’s by 26.9% in the first quarter. OppenheimerFunds Inc. now owns 8,901 shares of the textile maker’s stock valued at $799,000 after purchasing an additional 1,887 shares during the period. FMR LLC boosted its holdings in Carter’s by 93.8% in the first quarter. FMR LLC now owns 325,487 shares of the textile maker’s stock valued at $29,228,000 after purchasing an additional 157,529 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Carter’s by 119.1% in the first quarter. Legal & General Group Plc now owns 33,901 shares of the textile maker’s stock valued at $3,045,000 after purchasing an additional 18,430 shares during the period. Hedge funds and other institutional investors own 97.33% 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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