Analysts at Bank of America Corporation started coverage on shares of Carter’s, Inc. (NYSE:CRI) in a note issued to investors on Friday. The brokerage set a “buy” rating on the textile maker’s stock.
A number of other research analysts have also recently commented on CRI. BidaskClub cut shares of Carter’s from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Macquarie began coverage on shares of Carter’s in a report on Tuesday, August 29th. They issued an “outperform” rating and a $110.00 price target on the stock. CL King restated a “hold” rating on shares of Carter’s in a report on Thursday, June 8th. FBR & Co restated a “buy” rating on shares of Carter’s in a report on Thursday, July 13th. Finally, Cowen and Company set a $92.00 price target on shares of Carter’s and gave the stock a “hold” rating in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $101.58.
Shares of Carter’s (NYSE:CRI) opened at 91.79 on Friday. Carter’s has a 52-week low of $77.94 and a 52-week high of $98.88. The stock has a market capitalization of $4.39 billion, a PE ratio of 18.00 and a beta of 0.30. The stock has a 50 day moving average of $88.08 and a 200 day moving average of $88.09.
Carter’s (NYSE:CRI) last posted its quarterly earnings results on Thursday, July 27th. The textile maker reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.09. The firm had revenue of $692.10 million for the quarter, compared to analysts’ expectations of $681.08 million. Carter’s had a net margin of 7.74% and a return on equity of 33.18%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. Analysts forecast that Carter’s will post $5.61 earnings per share for the current year.
In other Carter’s news, Director Paul Fulton sold 8,643 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $87.58, for a total transaction of $756,953.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas E. Whiddon sold 17,500 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $90.35, for a total transaction of $1,581,125.00. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC purchased a new stake in shares of Carter’s during the second quarter valued at about $125,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Carter’s during the second quarter valued at about $128,000. Public Employees Retirement System of Ohio lifted its position in shares of Carter’s by 9.2% during the second quarter. Public Employees Retirement System of Ohio now owns 214,833 shares of the textile maker’s stock valued at $19,109,000 after buying an additional 18,073 shares during the last quarter. Schafer Cullen Capital Management Inc. purchased a new stake in shares of Carter’s during the second quarter valued at about $242,000. Finally, Polaris Capital Management LLC lifted its position in shares of Carter’s by 21.4% during the second quarter. Polaris Capital Management LLC now owns 343,251 shares of the textile maker’s stock valued at $30,532,000 after buying an additional 60,600 shares during the last quarter. 97.27% of the stock is owned by institutional investors and hedge funds.
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 owns two brand names in the children’s apparel industry, Carter’s and OshKosh B’gosh (OshKosh). The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International.
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