Carter’s (NYSE:CRI) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Carter’s (NYSE:CRI) to a strong-buy rating in a report published on Tuesday,Zacks reports.

A number of other research analysts have also recently issued reports on CRI. Wells Fargo & Company raised Carter’s from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $30.00 to $42.00 in a report on Wednesday, June 17th. UBS Group reissued a “buy” rating on shares of Carter’s in a report on Wednesday, July 8th. Weiss Ratings raised shares of Carter’s from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Wall Street Zen cut shares of Carter’s from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 29th. Finally, Capital One Financial set a $40.00 target price on shares of Carter’s in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.88.

Carter’s Trading Down 5.9%

CRI stock opened at $30.19 on Tuesday. The business has a fifty day moving average price of $37.13 and a 200 day moving average price of $37.32. Carter’s has a fifty-two week low of $27.15 and a fifty-two week high of $44.44. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 5.65, a P/E/G ratio of 3.61 and a beta of 0.84. 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 (NYSE:CRI) last issued its quarterly earnings data on Friday, July 31st. The textile maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.20. The firm had revenue of $615.49 million during the quarter, compared to the consensus estimate of $605.68 million. Carter’s had a return on equity of 12.78% and a net margin of 6.55%.The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS. Analysts expect that Carter’s will post 3.28 EPS for the current fiscal year.

Carter’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.00 dividend on an annualized basis and a yield of 3.3%. Carter’s’s dividend payout ratio is presently 18.73%.

Institutional Investors Weigh In On Carter’s

Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in Carter’s by 50.2% in the first quarter. Royal Bank of Canada now owns 40,649 shares of the textile maker’s stock valued at $1,663,000 after buying an additional 13,594 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Carter’s by 5.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 120,964 shares of the textile maker’s stock valued at $4,947,000 after acquiring an additional 6,195 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Carter’s by 4.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 16,482 shares of the textile maker’s stock valued at $497,000 after purchasing an additional 734 shares during the period. Hsbc Holdings PLC boosted its position in shares of Carter’s by 71.5% in the 2nd quarter. Hsbc Holdings PLC now owns 9,390 shares of the textile maker’s stock worth $282,000 after purchasing an additional 3,915 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Carter’s by 30.4% during the second quarter. Invesco Ltd. now owns 223,731 shares of the textile maker’s stock worth $6,741,000 after purchasing an additional 52,103 shares during the period.

Carter’s Company Profile

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.