Carter’s, Inc. (CRI) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Carter’s, Inc. (NYSE:CRI) from a buy rating to a hold rating in a research report released on Tuesday.

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 analysts also recently issued reports on the stock. Bank of America Corporation started coverage on shares of Carter’s in a report on Friday, September 15th. They set a buy rating and a $106.00 price target on the stock. Goldman Sachs Group, Inc. (The) started coverage on shares of Carter’s in a report on Tuesday, September 5th. They set a buy rating and a $105.00 price target on the stock. Citigroup Inc. raised their price target on shares of Carter’s from $108.00 to $112.00 and gave the company a buy rating in a report on Friday, October 27th. Oppenheimer Holdings, Inc. set a $112.00 price target on shares of Carter’s and gave the company a buy rating in a report on Thursday, October 26th. Finally, FBR & Co reaffirmed a buy rating and set a $111.00 price target on shares of Carter’s in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $104.09.

Carter’s (NYSE CRI) traded down $0.50 during trading hours on Tuesday, reaching $97.98. 426,287 shares of the company’s stock were exchanged, compared to its average volume of 654,427. The firm has a market cap of $4.62 billion, a P/E ratio of 18.59 and a beta of 0.33.

Carter’s (NYSE:CRI) last released its quarterly earnings data on Thursday, October 26th. The textile maker reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.05. The business had revenue of $948.23 million during the quarter, compared to analyst estimates of $950.64 million. Carter’s had a net margin of 7.69% and a return on equity of 33.38%. Carter’s’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $1.61 EPS. research analysts forecast that Carter’s will post 5.64 earnings per share for the current fiscal year.

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In related news, Director Paul Fulton sold 8,643 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $87.58, for a total value of $756,953.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 3.10% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC raised its stake in Carter’s by 1,428.4% during the 2nd 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 period. Los Angeles Capital Management & Equity Research Inc. raised its stake in Carter’s by 137.8% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 539,046 shares of the textile maker’s stock worth $47,948,000 after acquiring an additional 312,412 shares during the period. Legal & General Group Plc raised its stake in Carter’s by 30.8% during the 2nd quarter. Legal & General Group Plc now owns 44,331 shares of the textile maker’s stock worth $3,943,000 after acquiring an additional 10,430 shares during the period. First Trust Advisors LP raised its stake in Carter’s by 77.6% during the 2nd quarter. First Trust Advisors LP now owns 61,179 shares of the textile maker’s stock worth $5,442,000 after acquiring an additional 26,723 shares during the period. Finally, Stevens Capital Management LP raised its stake in Carter’s by 5.7% during the 2nd quarter. Stevens Capital Management LP now owns 75,281 shares of the textile maker’s stock worth $6,696,000 after acquiring an additional 4,030 shares during the period. Institutional investors own 97.33% of the company’s stock.

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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