Carter’s, Inc. (CRI) Rating Increased to Buy at Zacks Investment Research

Carter’s, Inc. (NYSE:CRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage currently has a $110.00 price target on the textile maker’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 13.02% from the stock’s current price.

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. “

CRI has been the subject of several other reports. Citigroup Inc. lifted their price objective on Carter’s from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Friday. Cowen and Company set a $92.00 price objective on Carter’s and gave the stock a “hold” rating in a report on Monday, October 23rd. BidaskClub cut Carter’s from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Goldman Sachs Group, Inc. (The) began coverage on Carter’s in a report on Tuesday, September 5th. They set a “buy” rating and a $105.00 price objective for the company. Finally, Macquarie began coverage on Carter’s in a report on Tuesday, August 29th. They set an “outperform” rating and a $110.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $104.09.

Shares of Carter’s (CRI) traded down 0.47% on Monday, hitting $97.33. The stock had a trading volume of 468,499 shares. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 19.09 and a beta of 0.34. The firm’s 50-day moving average is $94.36 and its 200-day moving average is $89.39. Carter’s has a one year low of $77.94 and a one year high of $99.75.

Carter’s (NYSE:CRI) last posted its quarterly earnings results on Thursday, October 26th. The textile maker reported $1.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.05. Carter’s had a return on equity of 33.38% and a net margin of 7.69%. The firm had revenue of $948.23 million for the quarter, compared to the consensus estimate of $950.64 million. During the same period in the previous year, the business earned $1.61 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts expect that Carter’s will post $5.63 EPS for the current fiscal year.

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In other news, Director Thomas E. Whiddon sold 17,500 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $90.35, for a total value of $1,581,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Fulton sold 8,643 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $87.58, for a total value of $756,953.94. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Carter’s by 1.8% in the second quarter. BlackRock Inc. now owns 4,110,338 shares of the textile maker’s stock worth $365,614,000 after acquiring an additional 71,765 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Carter’s by 2.8% in the first quarter. Vanguard Group Inc. now owns 3,653,088 shares of the textile maker’s stock worth $328,048,000 after acquiring an additional 99,586 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Carter’s by 1,216.2% in the second quarter. Janus Henderson Group PLC now owns 3,399,870 shares of the textile maker’s stock worth $302,418,000 after acquiring an additional 3,141,568 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Carter’s by 1,428.4% in the second quarter. Lazard Asset Management LLC now owns 2,289,358 shares of the textile maker’s stock worth $203,638,000 after acquiring an additional 2,139,567 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Carter’s by 1.7% in the second quarter. State Street Corp now owns 1,321,596 shares of the textile maker’s stock worth $117,556,000 after acquiring an additional 22,158 shares during the last quarter. 97.33% 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 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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