Carter’s (NYSE:CRI) Stock Gets Price Target Cut from UBS Group

Carter’s (NYSE:CRI) had its target price cut by UBS Group from $38.00 to $33.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a neutral rating on the textile maker’s stock.

CRI has been the subject of a number of other reports. BMO Capital Markets assumed coverage on shares of Carter’s in a research note on Tuesday, September 8th. They issued an “outperform” rating and a $40.00 target price for the company. Zacks Research downgraded shares of Carter’s from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 20th. Wall Street Zen lowered shares of Carter’s from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Bank of America decreased their price target on shares of Carter’s from $30.00 to $28.00 and set an “underperform” rating for the company in a report on Monday. Finally, Citigroup reaffirmed a “buy” rating on shares of Carter’s in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned 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, Carter’s currently has a consensus rating of “Hold” and a consensus target price of $38.62.

Carter’s Trading Up 7.6%

Carter’s stock opened at $33.70 on Monday. The stock has a 50-day moving average of $31.84 and a two-hundred day moving average of $36.21. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.63 and a current ratio of 2.78. Carter’s has a one year low of $27.86 and a one year high of $44.44. The stock has a market cap of $1.24 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 3.59 and a beta of 0.85.

Carter’s (NYSE:CRI) last issued its quarterly earnings results on Friday, October 30th. The textile maker reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.18. Carter’s had a return on equity of 13.25% and a net margin of 7.40%. The business had revenue of $752.46 million during the quarter, compared to the consensus estimate of $747.34 million. During the same quarter last year, the company earned $0.74 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, research analysts anticipate that Carter’s will post 3.22 EPS for the current fiscal year.

Carter’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, September 1st. Carter’s’s payout ratio is presently 16.61%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Fulcrum Asset Management LLP boosted its holdings in shares of Carter’s by 2,314.5% in the 3rd quarter. Fulcrum Asset Management LLP now owns 1,497 shares of the textile maker’s stock valued at $47,000 after acquiring an additional 1,435 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Carter’s during the third quarter worth $8,073,000. Alps Advisors Inc. purchased a new position in shares of Carter’s during the third quarter worth $596,000. CenterBook Partners LP raised its holdings in shares of Carter’s by 133.2% during the third quarter. CenterBook Partners LP now owns 41,117 shares of the textile maker’s stock worth $1,287,000 after purchasing an additional 23,485 shares during the last quarter. Finally, Inscription Capital LLC raised its holdings in shares of Carter’s by 2.3% during the third quarter. Inscription Capital LLC now owns 19,909 shares of the textile maker’s stock worth $623,000 after purchasing an additional 453 shares during 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.