Carter’s (NYSE:CRI) Downgraded by Zacks Research to Hold

Carter’s (NYSE:CRI) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

Several other analysts have also recently commented on the stock. Wall Street Zen cut shares of Carter’s from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Wells Fargo & Company cut their price target on shares of Carter’s from $42.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, October 12th. BMO Capital Markets assumed coverage on shares of Carter’s in a research report on Tuesday, September 8th. They issued an “outperform” rating and a $40.00 price objective for the company. Capital One Financial set a $40.00 price objective on shares of Carter’s in a research report on Tuesday, September 8th. Finally, UBS Group lowered their price objective on Carter’s from $41.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $39.00.

Carter’s Price Performance

Carter’s stock opened at $32.51 on Tuesday. Carter’s has a 12 month low of $27.86 and a 12 month high of $44.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.47 and a quick ratio of 1.50. The business has a 50 day simple moving average of $32.67 and a 200-day simple moving average of $36.43. The stock has a market capitalization of $1.19 billion, a PE ratio of 6.09, a price-to-earnings-growth ratio of 3.79 and a beta of 0.84.

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, topping 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 firm had revenue of $615.49 million during the quarter, compared to the consensus estimate of $605.68 million. During the same period last year, the company earned $0.17 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts predict that Carter’s will post 3.28 earnings per share for the current year.

Institutional Investors Weigh In On Carter’s

A number of hedge funds and other institutional investors have recently bought and sold shares of CRI. Dimensional Fund Advisors LP lifted its holdings in Carter’s by 36.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,765,205 shares of the textile maker’s stock valued at $63,121,000 after acquiring an additional 472,786 shares during the period. Rubric Capital Management LP grew its stake in shares of Carter’s by 121.5% during the 1st quarter. Rubric Capital Management LP now owns 1,018,853 shares of the textile maker’s stock worth $36,434,000 after purchasing an additional 558,853 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Carter’s during the 2nd quarter worth $28,348,000. Wellington Management Group LLP grew its stake in shares of Carter’s by 11.9% during the 2nd quarter. Wellington Management Group LLP now owns 645,863 shares of the textile maker’s stock worth $26,584,000 after purchasing an additional 68,464 shares during the period. Finally, Aristides Capital LLC grew its stake in shares of Carter’s by 123.3% during the 1st quarter. Aristides Capital LLC now owns 163,949 shares of the textile maker’s stock worth $5,863,000 after purchasing an additional 90,533 shares during the period.

About Carter’s

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.