Carter’s (NYSE:CRI) Stock Breaks Above 50 Day Moving Average – Here’s Why

Carter’s, Inc. (NYSE:CRI) shares crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $32.08 and traded as high as $33.42. Carter’s shares last traded at $33.3430, with a volume of 2,053,469 shares traded.

Analyst Ratings Changes

A number of brokerages have recently commented on CRI. Capital One Financial set a $40.00 price target on Carter’s in a research note on Tuesday, September 8th. Wells Fargo & Company cut their price target on shares of Carter’s from $42.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, October 12th. Weiss Ratings raised shares of Carter’s from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Citigroup restated a “buy” rating on shares of Carter’s in a report on Tuesday, July 21st. Finally, Needham & Company LLC restated a “hold” rating on shares of Carter’s in a report on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Carter’s currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.86.

Carter’s Stock Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 2.47 and a quick ratio of 1.50. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 6.24, a price-to-earnings-growth ratio of 3.50 and a beta of 0.84. The stock has a 50-day moving average price of $32.08 and a 200 day moving average price of $36.30.

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. Carter’s had a return on equity of 12.78% and a net margin of 6.55%. The business had revenue of $615.49 million during the quarter, compared to analyst estimates of $605.68 million. During the same period in the previous year, the firm earned $0.17 EPS. Carter’s’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that Carter’s, Inc. will post 3.28 EPS for the current fiscal year.

Carter’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, September 1st. Carter’s’s dividend payout ratio (DPR) is 18.73%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of Carter’s by 36.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,765,205 shares of the textile maker’s stock worth $63,121,000 after acquiring an additional 472,786 shares in the last quarter. Rubric Capital Management LP raised its holdings in shares of Carter’s by 121.5% during the first quarter. Rubric Capital Management LP now owns 1,018,853 shares of the textile maker’s stock worth $36,434,000 after acquiring an additional 558,853 shares during the period. Bank of New York Mellon Corp bought a new stake in Carter’s in the 2nd quarter valued at $28,348,000. Wellington Management Group LLP lifted its position in Carter’s by 11.9% in the 2nd quarter. Wellington Management Group LLP now owns 645,863 shares of the textile maker’s stock valued at $26,584,000 after acquiring an additional 68,464 shares in the last quarter. Finally, Aristides Capital LLC lifted its position in Carter’s by 123.3% in the 1st quarter. Aristides Capital LLC now owns 163,949 shares of the textile maker’s stock valued at $5,863,000 after acquiring an additional 90,533 shares in the last quarter.

Carter’s Company Profile

Carter’s, Inc (NYSE:CRI) is a major designer, source and marketer of apparel and related products for babies and young children. The company offers clothing, accessories, footwear, gifts and other products for infants, toddlers and children through brands including Carter’s, OshKosh B’gosh, Little Planet and Skip Hop.

Founded in 1865, Carter’s has built a long-standing presence in the children’s apparel market. Its products are sold through company-operated retail stores, e-commerce websites and wholesale partners, including department stores, mass merchants and specialty retailers.