Carter’s (NYSE:CRI) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Carter’s (NYSE:CRI) from a buy rating to a strong-buy rating in a research note published on Monday morning.

A number of other brokerages also recently weighed in on CRI. Wells Fargo & Company upgraded Carter’s from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $30.00 to $42.00 in a report on Wednesday, June 17th. Zacks Research downgraded shares of Carter’s from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Citigroup reiterated a “buy” rating on shares of Carter’s in a research note on Tuesday, July 21st. Monness Crespi & Hardt lifted their price objective on shares of Carter’s from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, UBS Group restated a “buy” rating on shares of Carter’s in a report on Wednesday, July 8th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $41.17.

Carter’s Stock Performance

NYSE CRI opened at $40.37 on Monday. The company’s 50 day simple moving average is $40.01 and its two-hundred day simple moving average is $37.80. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.47 and a quick ratio of 1.50. Carter’s has a 1 year low of $23.93 and a 1 year high of $44.44. The stock has a market capitalization of $1.48 billion, a PE ratio of 7.56, a P/E/G ratio of 4.73 and a beta of 0.87.

Carter’s (NYSE:CRI) last released its quarterly earnings results on Friday, July 31st. The textile maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.20. Carter’s had a net margin of 6.55% and a return on equity of 12.78%. The firm had revenue of $615.49 million for the quarter, compared to analysts’ expectations of $605.68 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts predict that Carter’s will post 3.12 earnings per share for the current fiscal year.

Carter’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 26th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, May 26th. Carter’s’s dividend payout ratio (DPR) is 18.73%.

Hedge Funds Weigh In On Carter’s

Large investors have recently bought and sold shares of the company. Great Lakes Advisors LLC acquired a new stake in shares of Carter’s in the second quarter valued at approximately $3,283,000. Bank of New York Mellon Corp acquired a new position in Carter’s during the second quarter worth $28,348,000. Bank of America Corp DE grew its position in Carter’s by 5.0% in the first quarter. Bank of America Corp DE now owns 66,031 shares of the textile maker’s stock valued at $2,361,000 after purchasing an additional 3,132 shares in the last quarter. Amundi increased its stake in Carter’s by 45.7% in the 1st quarter. Amundi now owns 14,807 shares of the textile maker’s stock valued at $529,000 after buying an additional 4,647 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in Carter’s by 31.2% during the 1st quarter. California State Teachers Retirement System now owns 46,269 shares of the textile maker’s stock worth $1,655,000 after buying an additional 11,004 shares in the last quarter.

About Carter’s

Carter’s, Inc (NYSE: CRI) is a leading designer and marketer of infant and young children’s apparel in North America. Headquartered in Atlanta, Georgia, the company’s core business focuses on creating clothing and accessories for babies and children, including bodysuits, sleepwear, layette, outerwear and accessories that blend comfort, safety and style. Carter’s flagship brand is complemented by its OshKosh B’gosh line, which offers heritage-inspired designs and durable fabrics for toddlers and young kids.

The company distributes its products through a diversified platform that includes wholesale partnerships with major department stores and mass merchandisers, direct‐to‐consumer e-commerce sites, and an extensive network of company-operated retail stores.