Carter’s (NYSE:CRI) Stock Moved Down to Hold by Wall Street Zen

Wall Street Zen lowered shares of Carter’s (NYSE:CRI) from a buy rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

Several other equities analysts also recently issued reports on CRI. BMO Capital Markets initiated coverage on shares of Carter’s in a research note on Tuesday, September 8th. They set an “outperform” rating and a $40.00 price target for the company. Wells Fargo & Company reduced their price objective on shares of Carter’s from $42.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, October 12th. Needham & Company LLC restated a “hold” rating on shares of Carter’s in a report on Tuesday, October 20th. UBS Group lowered their target price on Carter’s from $38.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, November 2nd. Finally, Weiss Ratings raised Carter’s from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Carter’s currently has a consensus rating of “Hold” and a consensus price target of $38.62.

Carter’s Stock Performance

Shares of CRI stock opened at $32.01 on Friday. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 5.32, a PEG ratio of 3.67 and a beta of 0.85. The company has a current ratio of 2.78, a quick ratio of 1.63 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average price is $31.78 and its 200-day moving average price is $36.18. Carter’s has a 12 month low of $27.86 and a 12 month high of $44.44.

Carter’s (NYSE:CRI) last released its quarterly earnings data on Friday, October 30th. The textile maker reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.18. Carter’s had a return on equity of 13.25% and a net margin of 7.40%. The company had revenue of $752.46 million during the quarter, compared to the consensus estimate of $747.34 million. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. Equities research analysts forecast that Carter’s will post 3.22 EPS for the current year.

Carter’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Tuesday, September 1st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, September 1st. Carter’s’s payout ratio is presently 16.61%.

Institutional Trading of Carter’s

Several hedge funds have recently modified their holdings of CRI. Maryland State Retirement & Pension System boosted its position in shares of Carter’s by 54.4% during the 3rd quarter. Maryland State Retirement & Pension System now owns 8,199 shares of the textile maker’s stock worth $257,000 after purchasing an additional 2,890 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in Carter’s by 1.7% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 19,367 shares of the textile maker’s stock worth $606,000 after buying an additional 317 shares during the period. Fulcrum Asset Management LLP boosted its holdings in Carter’s by 2,314.5% in the third quarter. Fulcrum Asset Management LLP now owns 1,497 shares of the textile maker’s stock worth $47,000 after acquiring an additional 1,435 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Carter’s in the third quarter worth approximately $8,073,000. Finally, Alps Advisors Inc. bought a new position in Carter’s in the third quarter worth approximately $596,000.

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.