Carter’s Inc. (CRI) Receives $107.67 Consensus Target Price from Analysts
Carter’s Inc. (NYSE:CRI) has been assigned a consensus rating of “Hold” from the ten research firms that are currently covering the company. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $107.67.
CRI has been the subject of several research analyst reports. Credit Agricole SA initiated coverage on shares of Carter’s in a report on Wednesday, September 28th. They issued an “underperform” rating and a $95.00 price objective for the company. Monness Crespi & Hardt reduced their price objective on shares of Carter’s from $118.00 to $115.00 and set a “buy” rating for the company in a report on Friday, October 28th. FBR & Co reaffirmed a “buy” rating and issued a $111.00 price objective on shares of Carter’s in a report on Friday, September 16th. Zacks Investment Research downgraded shares of Carter’s from a “strong-buy” rating to a “hold” rating in a report on Friday, July 29th. Finally, Wells Fargo & Co. cut shares of Carter’s from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $111.00 to $93.00 in a research report on Tuesday, September 27th.
Shares of Carter’s (NYSE:CRI) opened at 93.16 on Tuesday. The firm has a market capitalization of $4.60 billion, a PE ratio of 19.68 and a beta of 0.36. Carter’s has a 1-year low of $83.44 and a 1-year high of $112.58. The firm’s 50 day moving average is $87.54 and its 200 day moving average is $98.01.
Carter’s (NYSE:CRI) last posted its quarterly earnings data on Thursday, October 27th. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.67 by $0.06. The company earned $901 million during the quarter, compared to analyst estimates of $901.99 million. Carter’s had a return on equity of 30.07% and a net margin of 7.78%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.51 EPS. Analysts anticipate that Carter’s will post $5.04 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Monday, November 21st will be paid a dividend of $0.33 per share. The ex-dividend date is Thursday, November 17th. This is a positive change from Carter’s’s previous quarterly dividend of $0.22. This represents a $1.32 dividend on an annualized basis and a yield of 1.42%. Carter’s’s dividend payout ratio is currently 27.85%.
In other Carter’s news, Chairman Michael Dennis Casey sold 20,700 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $93.20, for a total transaction of $1,929,240.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in Carter’s by 771.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 2,882,951 shares of the company’s stock worth $249,981,000 after buying an additional 2,552,056 shares during the period. Fiera Capital Corp raised its stake in Carter’s by 1,417.3% in the second quarter. Fiera Capital Corp now owns 480,981 shares of the company’s stock worth $51,210,000 after buying an additional 449,281 shares during the period. Morgan Stanley raised its stake in Carter’s by 168.2% in the third quarter. Morgan Stanley now owns 596,909 shares of the company’s stock worth $51,759,000 after buying an additional 374,387 shares during the period. TimesSquare Capital Management LLC bought a new stake in Carter’s during the second quarter worth about $36,434,000. Finally, Thrivent Financial for Lutherans raised its stake in Carter’s by 4,167.5% in the second quarter. Thrivent Financial for Lutherans now owns 283,360 shares of the company’s stock worth $30,170,000 after buying an additional 276,720 shares during the period. 90.81% of the stock is owned by institutional investors.
Carter’s Company Profile
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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