Zacks Research Upgrades Carter’s (NYSE:CRI) to “Hold”

Carter’s (NYSE:CRI) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other research analysts have also issued reports on the stock. UBS Group upped their price target on shares of Carter’s from $26.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of Carter’s in a report on Tuesday, October 14th. Citigroup upped their target price on Carter’s from $28.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. The Goldman Sachs Group initiated coverage on Carter’s in a research report on Thursday, December 11th. They set a “sell” rating and a $26.00 price target for the company. Finally, Barclays boosted their price target on Carter’s from $23.00 to $26.00 and gave the company an “underweight” rating in a research note on Tuesday, October 28th. Three investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and an average price target of $28.80.

Carter’s Trading Down 1.8%

Shares of NYSE:CRI opened at $32.10 on Tuesday. The business’s 50-day moving average is $31.30 and its 200 day moving average is $30.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.26 and a quick ratio of 0.95. Carter’s has a 1 year low of $23.38 and a 1 year high of $56.89. The firm has a market capitalization of $1.17 billion, a P/E ratio of 12.99 and a beta of 1.08.

Carter’s (NYSE:CRI) last issued its quarterly earnings results on Monday, October 27th. The textile maker reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). Carter’s had a return on equity of 16.71% and a net margin of 3.15%.The business had revenue of $757.84 million for the quarter, compared to analysts’ expectations of $760.11 million. During the same quarter in the previous year, the firm posted $1.64 EPS. Carter’s’s revenue was down .1% on a year-over-year basis. On average, research analysts predict that Carter’s will post 5.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carter’s

Several institutional investors and hedge funds have recently modified their holdings of the stock. RWWM Inc. boosted its position in Carter’s by 86.1% in the 2nd quarter. RWWM Inc. now owns 4,075,791 shares of the textile maker’s stock worth $122,804,000 after purchasing an additional 1,885,309 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Carter’s by 14,270.6% in the 1st quarter. Millennium Management LLC now owns 1,631,493 shares of the textile maker’s stock valued at $66,728,000 after purchasing an additional 1,620,140 shares during the period. AQR Capital Management LLC boosted its holdings in Carter’s by 113.7% during the second quarter. AQR Capital Management LLC now owns 2,564,457 shares of the textile maker’s stock worth $77,267,000 after buying an additional 1,364,698 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in Carter’s by 43.7% during the third quarter. Allianz Asset Management GmbH now owns 1,201,996 shares of the textile maker’s stock worth $33,920,000 after buying an additional 365,501 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in Carter’s by 1,679.7% during the second quarter. Quantinno Capital Management LP now owns 370,791 shares of the textile maker’s stock valued at $11,172,000 after buying an additional 349,957 shares during the period.

Carter’s Company Profile

Carter’s, Inc engages in the business of brand marketing of young children’s apparel. It operates through the following segments: the United States (US) Retail, US Wholesale, and International. The US Retail segment includes selling products through retail stores and ecommerce websites. The US Wholesale segment focuses on wholesale partners.