Carter’s Inc. (NYSE:CRI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Carter’s, Inc. is a leading provider of apparel and related products exclusively for babies and young children. The Company owns the Carter’s and OshKosh B’gosh brands, two of the most recognized brands in the marketplace. These brands are sold in leading department stores, national chains, and specialty retailers domestically and internationally and through Company-operated stores and on-line at carters.com and oshkoshbgosh.com. The Company’s Child of Mine brand is available at Walmart, and its Genuine Kids, Just One You, and Precious Firsts brands are available at Target. “
A number of other research firms also recently issued reports on CRI. Monness Crespi & Hardt upgraded shares of Carter’s from a “neutral” rating to a “buy” rating and set a $118.00 target price on the stock in a research report on Monday, August 8th. Citigroup Inc. cut their target price on shares of Carter’s from $108.00 to $106.00 and set a “neutral” rating on the stock in a research report on Thursday, July 28th. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $115.00 target price on shares of Carter’s in a research report on Friday, September 9th. Credit Agricole SA initiated coverage on shares of Carter’s in a research report on Wednesday. They set an “underperform” rating and a $95.00 target price on the stock. Finally, Wells Fargo & Co. downgraded shares of Carter’s from an “outperform” rating to a “market perform” rating and cut their target price for the company from $111.00 to $93.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $109.00.
Carter’s (NYSE:CRI) opened at 87.33 on Wednesday. The company’s 50-day moving average is $96.57 and its 200-day moving average is $101.97. The stock has a market capitalization of $4.37 billion, a P/E ratio of 18.77 and a beta of 0.62. Carter’s has a 12 month low of $82.22 and a 12 month high of $112.58.
Carter’s (NYSE:CRI) last released its earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. Carter’s had a net margin of 7.86% and a return on equity of 29.33%. The company had revenue of $639 million for the quarter, compared to the consensus estimate of $636.86 million. During the same period in the prior year, the company posted $0.73 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. Equities analysts anticipate that Carter’s will post $5.07 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Tuesday, August 30th were paid a dividend of $0.33 per share. The ex-dividend date was Friday, August 26th. This represents a $1.32 dividend on an annualized basis and a yield of 1.51%. Carter’s’s payout ratio is 28.39%.
In related news, CFO Richard F. Westenberger sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $101.00, for a total transaction of $252,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.10% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Chicago Equity Partners LLC boosted its position in shares of Carter’s by 0.3% in the second quarter. Chicago Equity Partners LLC now owns 16,670 shares of the company’s stock valued at $1,775,000 after buying an additional 50 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Carter’s by 0.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,442 shares of the company’s stock valued at $686,000 after buying an additional 59 shares in the last quarter. Boston Private Wealth LLC boosted its position in shares of Carter’s by 0.7% in the second quarter. Boston Private Wealth LLC now owns 10,014 shares of the company’s stock valued at $1,066,000 after buying an additional 72 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Carter’s by 0.4% in the first quarter. Loomis Sayles & Co. L P now owns 22,601 shares of the company’s stock valued at $2,382,000 after buying an additional 82 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of Carter’s by 0.3% in the second quarter. Comerica Bank now owns 38,717 shares of the company’s stock valued at $3,871,000 after buying an additional 117 shares in the last quarter. 90.76% of the stock is owned by institutional investors.
Carter’s Company Profile
Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International. Its international segment includes Company-operated retail stores, wholesale and online operations in addition to royalty income from its international licensees.
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