Carter’s (CRI) Lowered to “Sell” at ValuEngine

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

A number of other brokerages have also recently weighed in on CRI. B. Riley began coverage on shares of Carter’s in a report on Tuesday, October 30th. They set a market perform rating and a $104.00 target price for the company. Macquarie cut shares of Carter’s from an outperform rating to a neutral rating in a report on Friday, November 2nd. Zacks Investment Research cut shares of Carter’s from a hold rating to a sell rating in a report on Tuesday, October 23rd. Cowen set a $95.00 target price on shares of Carter’s and gave the stock a hold rating in a report on Thursday, October 18th. Finally, Wells Fargo & Co reduced their target price on shares of Carter’s from $126.00 to $115.00 and set an outperform rating for the company in a report on Monday, October 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $109.50.

Shares of NYSE:CRI opened at $81.37 on Thursday. The company has a market cap of $3.84 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 1.54 and a beta of 0.68. Carter’s has a 1-year low of $75.66 and a 1-year high of $129.00. The company has a quick ratio of 1.49, a current ratio of 3.67 and a debt-to-equity ratio of 0.98.

Carter’s (NYSE:CRI) last issued its earnings results on Thursday, October 25th. The textile maker reported $1.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.12). The business had revenue of $923.91 million for the quarter, compared to the consensus estimate of $940.87 million. Carter’s had a return on equity of 33.05% and a net margin of 8.44%. As a group, sell-side analysts anticipate that Carter’s will post 6.05 EPS for the current year.

In related news, Chairman Michael Dennis Casey sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $97.76, for a total value of $2,444,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jill Wilson sold 2,835 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $96.27, for a total transaction of $272,925.45. The disclosure for this sale can be found here. Insiders sold a total of 102,835 shares of company stock valued at $9,606,925 in the last ninety days. Company insiders own 3.30% of the company’s stock.

Large investors have recently modified their holdings of the business. Vident Investment Advisory LLC boosted its stake in shares of Carter’s by 20.9% during the 2nd quarter. Vident Investment Advisory LLC now owns 12,578 shares of the textile maker’s stock valued at $1,363,000 after buying an additional 2,177 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of Carter’s by 22.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 34,727 shares of the textile maker’s stock valued at $3,766,000 after buying an additional 6,404 shares during the period. GW&K Investment Management LLC boosted its stake in shares of Carter’s by 31.2% during the 3rd quarter. GW&K Investment Management LLC now owns 233,418 shares of the textile maker’s stock valued at $23,015,000 after buying an additional 55,529 shares during the period. Palo Capital Inc. boosted its stake in shares of Carter’s by 5.0% during the 3rd quarter. Palo Capital Inc. now owns 21,516 shares of the textile maker’s stock valued at $2,121,000 after buying an additional 1,027 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of Carter’s by 33.7% during the 3rd quarter. Mackenzie Financial Corp now owns 1,122,465 shares of the textile maker’s stock valued at $110,675,000 after buying an additional 282,615 shares during the period. 95.82% of the stock is owned by institutional investors.

About Carter’s

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.

Further Reading: Diversification

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Analyst Recommendations for Carter`s (NYSE:CRI)

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