Cowen and Company Analysts Give Carter’s, Inc. (CRI) a $105.00 Price Target
A number of other research analysts also recently commented on CRI. BidaskClub downgraded Carter’s from a hold rating to a sell rating in a report on Monday, July 31st. Macquarie initiated coverage on Carter’s in a report on Tuesday, August 29th. They set an outperform rating and a $110.00 target price on the stock. Goldman Sachs Group, Inc. (The) initiated coverage on Carter’s in a report on Tuesday, September 5th. They set a buy rating and a $105.00 target price on the stock. Bank of America Corporation initiated coverage on Carter’s in a report on Friday, September 15th. They set a buy rating and a $106.00 target price on the stock. Finally, Zacks Investment Research raised Carter’s from a hold rating to a buy rating and set a $107.00 target price on the stock in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. Carter’s presently has an average rating of Buy and an average price target of $105.27.
Carter’s (CRI) traded up $1.13 during trading hours on Thursday, reaching $105.07. The company’s stock had a trading volume of 1,029,283 shares, compared to its average volume of 685,095. The company has a current ratio of 3.20, a quick ratio of 1.34 and a debt-to-equity ratio of 0.89. Carter’s has a 52 week low of $77.94 and a 52 week high of $106.67. The company has a market cap of $4,972.23, a P/E ratio of 20.01, a PEG ratio of 2.05 and a beta of 0.33.
Carter’s (NYSE:CRI) last released 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 return on equity of 33.38% and a net margin of 7.69%. The company had revenue of $948.23 million for the quarter, compared to the consensus estimate of $950.64 million. During the same quarter last year, the business posted $1.61 EPS. Carter’s’s quarterly revenue was up 5.2% compared to the same quarter last year. analysts anticipate that Carter’s will post 5.63 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 20th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Friday, November 17th. Carter’s’s dividend payout ratio (DPR) is 28.46%.
In related news, Chairman Michael Dennis Casey sold 26,524 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $99.14, for a total value of $2,629,589.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul Fulton sold 10,412 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $100.70, for a total value of $1,048,488.40. The disclosure for this sale can be found here. In the last three months, insiders sold 72,103 shares of company stock worth $7,120,587. Company insiders own 3.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC raised its stake 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 acquiring an additional 2,139,567 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake 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 acquiring an additional 312,412 shares in the last quarter. Legal & General Group Plc raised its stake in Carter’s by 30.8% during the 2nd quarter. Legal & General Group Plc now owns 44,331 shares of the textile maker’s stock valued at $3,943,000 after acquiring an additional 10,430 shares in the last quarter. First Trust Advisors LP raised its stake in Carter’s by 77.6% during the 2nd quarter. First Trust Advisors LP now owns 61,179 shares of the textile maker’s stock valued at $5,442,000 after acquiring an additional 26,723 shares in the last quarter. Finally, Stevens Capital Management LP raised its stake in Carter’s by 5.7% during the 2nd quarter. Stevens Capital Management LP now owns 75,281 shares of the textile maker’s stock valued at $6,696,000 after acquiring an additional 4,030 shares in the last quarter. 96.17% of the stock is currently owned by hedge funds and other 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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