ValuEngine Downgrades Carter’s (CRI) to Hold

ValuEngine lowered shares of Carter’s (NYSE:CRI) from a buy rating to a hold rating in a research report report published on Thursday morning.

A number of other research analysts have also weighed in on CRI. B. Riley upped their price objective on Carter’s from $111.00 to $124.00 and gave the stock a buy rating in a report on Monday, December 18th. Oppenheimer upped their price objective on Carter’s from $112.00 to $125.00 and gave the stock an outperform rating in a report on Monday, December 18th. SunTrust Banks started coverage on Carter’s in a report on Thursday, December 21st. They set a hold rating and a $126.00 price objective on the stock. Zacks Investment Research raised Carter’s from a hold rating to a buy rating and set a $129.00 price objective on the stock in a report on Tuesday, December 26th. Finally, Wells Fargo reaffirmed a market perform rating and set a $123.00 price objective (up previously from $105.00) on shares of Carter’s in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $121.00.

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Shares of CRI stock opened at $104.10 on Thursday. Carter’s has a 1-year low of $79.76 and a 1-year high of $129.00. The firm has a market cap of $4,902.17, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 1.61 and a beta of 0.35. The company has a current ratio of 3.10, a quick ratio of 1.43 and a debt-to-equity ratio of 0.72.

Carter’s (NYSE:CRI) last announced its quarterly earnings data on Tuesday, February 27th. The textile maker reported $2.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.12. Carter’s had a return on equity of 35.46% and a net margin of 8.90%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company posted $1.79 earnings per share. Carter’s’s quarterly revenue was up 10.0% on a year-over-year basis. equities analysts predict that Carter’s will post 6.67 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Monday, March 12th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.73%. This is an increase from Carter’s’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, March 9th. Carter’s’s payout ratio is presently 31.25%.

Carter’s announced that its board has approved a share buyback program on Tuesday, February 27th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the textile maker to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

In other Carter’s news, insider Brian Lynch sold 26,500 shares of the business’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $116.12, for a total transaction of $3,077,180.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Greg Foglesong sold 6,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $117.98, for a total value of $707,880.00. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its position in shares of Carter’s by 0.3% in the third quarter. Janus Henderson Group PLC now owns 3,411,220 shares of the textile maker’s stock valued at $336,858,000 after acquiring an additional 11,350 shares in the last quarter. Millennium Management LLC lifted its position in shares of Carter’s by 156.5% in the fourth quarter. Millennium Management LLC now owns 869,178 shares of the textile maker’s stock valued at $102,120,000 after acquiring an additional 530,306 shares in the last quarter. Congress Asset Management Co. MA lifted its position in shares of Carter’s by 2.4% in the fourth quarter. Congress Asset Management Co. MA now owns 822,246 shares of the textile maker’s stock valued at $96,606,000 after acquiring an additional 19,644 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Carter’s by 11.6% in the third quarter. Mackenzie Financial Corp now owns 789,959 shares of the textile maker’s stock valued at $78,008,000 after acquiring an additional 82,386 shares in the last quarter. Finally, APG Asset Management N.V. lifted its position in shares of Carter’s by 194.4% in the fourth quarter. APG Asset Management N.V. now owns 640,948 shares of the textile maker’s stock valued at $62,712,000 after acquiring an additional 423,200 shares in the last quarter. Institutional investors own 97.50% of the company’s stock.

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Carter’s Company Profile

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, Child of Mine, Just One You, Precious Firsts, Simple Joys, OshKosh, Skip Hop, and other brands. The company operates through three segments: U.S. Retail, U.S. Wholesale, and International.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Carter`s (NYSE:CRI)

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