Carter’s (NYSE:CRI) Stock Moved Down to “Hold” by Zacks Research

Zacks Research cut shares of Carter’s (NYSE:CRI) from a strong-buy rating to a hold rating in a research report released on Tuesday morning,Zacks reports.

Several other equities analysts have also commented on CRI. Needham & Company LLC reiterated a “hold” rating on shares of Carter’s in a research note on Tuesday. Wells Fargo & Company reduced their target price on Carter’s from $42.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, October 12th. Capital One Financial set a $40.00 price target on Carter’s in a research note on Tuesday, September 8th. Wall Street Zen cut Carter’s from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 26th. Finally, Weiss Ratings raised shares of Carter’s from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $39.00.

Carter’s Stock Down 3.4%

CRI stock opened at $32.51 on Tuesday. The stock has a market capitalization of $1.19 billion, a P/E ratio of 6.09, a PEG ratio of 3.79 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.50 and a current ratio of 2.47. Carter’s has a one year low of $27.86 and a one year high of $44.44. The company has a 50 day moving average price of $32.67 and a two-hundred day moving average price of $36.43.

Carter’s (NYSE:CRI) last issued its quarterly earnings results on Friday, July 31st. The textile maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.20. Carter’s had a return on equity of 12.78% and a net margin of 6.55%. The company had revenue of $615.49 million during the quarter, compared to the consensus estimate of $605.68 million. During the same period in the previous year, the firm posted $0.17 EPS. Carter’s’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that Carter’s will post 3.28 EPS for the current year.

Carter’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 1st. Carter’s’s payout ratio is 18.73%.

Institutional Investors Weigh In On Carter’s

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. raised its holdings in shares of Carter’s by 13.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,532 shares of the textile maker’s stock worth $267,000 after purchasing an additional 1,014 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Carter’s by 27.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,935 shares of the textile maker’s stock worth $186,000 after purchasing an additional 1,287 shares during the period. IFP Advisors Inc grew its holdings in shares of Carter’s by 16,840.0% during the 3rd quarter. IFP Advisors Inc now owns 847 shares of the textile maker’s stock worth $27,000 after purchasing an additional 842 shares during the period. SummerHaven Investment Management LLC acquired a new stake in Carter’s during the 3rd quarter worth approximately $387,000. Finally, Elevation Wealth Partners LLC increased its position in Carter’s by 3,889.3% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,117 shares of the textile maker’s stock worth $35,000 after purchasing an additional 1,089 shares in the last quarter.

Carter’s Company Profile

Carter’s, Inc (NYSE:CRI) is a major designer, source and marketer of apparel and related products for babies and young children. The company offers clothing, accessories, footwear, gifts and other products for infants, toddlers and children through brands including Carter’s, OshKosh B’gosh, Little Planet and Skip Hop.

Founded in 1865, Carter’s has built a long-standing presence in the children’s apparel market. Its products are sold through company-operated retail stores, e-commerce websites and wholesale partners, including department stores, mass merchants and specialty retailers.