Carter’s, Inc. (CRI) Cut to “Hold” at Zacks Investment Research

Carter’s, Inc. (NYSE:CRI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, October 25th.

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. “

A number of other brokerages also recently issued reports on CRI. Cowen and Company set a $92.00 price objective on shares of Carter’s and gave the company a “hold” rating in a research report on Monday, October 23rd. Bank of America Corporation began coverage on shares of Carter’s in a research report on Friday, September 15th. They set a “buy” rating and a $106.00 price objective for the company. Goldman Sachs Group, Inc. (The) began coverage on shares of Carter’s in a research report on Tuesday, September 5th. They set a “buy” rating and a $105.00 price objective for the company. BidaskClub raised shares of Carter’s from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, FBR & Co restated a “buy” rating on shares of Carter’s in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Carter’s presently has a consensus rating of “Buy” and a consensus price target of $104.09.

Carter’s (CRI) traded up $0.39 during trading hours on Wednesday, reaching $101.21. 968,900 shares of the company’s stock were exchanged, compared to its average volume of 654,181. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.34 and a current ratio of 3.20. Carter’s has a fifty-two week low of $77.94 and a fifty-two week high of $102.87. The company has a market cap of $4,789.56, a P/E ratio of 19.28, a PEG ratio of 1.98 and a beta of 0.33.

Carter’s (NYSE:CRI) last posted its earnings results on Thursday, October 26th. The textile maker reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.05. Carter’s had a net margin of 7.69% and a return on equity of 33.38%. The business had revenue of $948.23 million during the quarter, compared to the consensus estimate of $950.64 million. During the same quarter in the previous year, the firm posted $1.61 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. equities analysts predict that Carter’s will post 5.64 earnings per share for the current year.

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In other news, Chairman Michael Dennis Casey sold 26,524 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $99.14, for a total transaction of $2,629,589.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul Fulton sold 8,643 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $87.58, for a total transaction of $756,953.94. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CRI. BlackRock Inc. raised its position in shares of Carter’s by 10,013.9% during the 1st 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. Janus Henderson Group PLC grew its holdings in Carter’s by 1,216.2% during the 2nd quarter. Janus Henderson Group PLC now owns 3,399,870 shares of the textile maker’s stock valued at $302,418,000 after purchasing an additional 3,141,568 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Carter’s by 1,428.4% during the 2nd quarter. Lazard Asset Management LLC now owns 2,289,358 shares of the textile maker’s stock valued at $203,638,000 after purchasing an additional 2,139,567 shares during the last quarter. Renaissance Technologies LLC bought a new position in Carter’s during the 1st quarter valued at about $30,460,000. Finally, Los Angeles Capital Management & Equity Research Inc. grew its holdings in Carter’s by 137.8% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 539,046 shares of the textile maker’s stock valued at $47,948,000 after purchasing an additional 312,412 shares during the last quarter. Hedge funds and other institutional investors own 98.40% of the company’s stock.

About Carter’s

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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