Carter’s Inc. (NYSE:CRI) – Equities research analysts at FBR & Co upped their Q3 2016 earnings estimates for shares of Carter’s in a research note issued to investors on Wednesday. FBR & Co analyst S. Anderson now forecasts that the brokerage will earn $1.67 per share for the quarter, up from their previous forecast of $1.66. FBR & Co has a “Buy” rating and a $111.00 price objective on the stock. FBR & Co also issued estimates for Carter’s’ FY2016 earnings at $5.08 EPS.
A number of other research firms have also recently issued reports on CRI. Cowen and Company began coverage on Carter’s in a research report on Wednesday, July 13th. They set a “market perform” rating and a $110.00 price objective for the company. Zacks Investment Research cut Carter’s from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 29th. Citigroup Inc. reduced their price objective on Carter’s from $108.00 to $106.00 and set a “neutral” rating for the company in a research report on Thursday, July 28th. Monness Crespi & Hardt raised Carter’s from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Monday, August 8th. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $115.00 price objective on shares of Carter’s in a research report on Friday, September 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $109.00.
Shares of Carter’s (NYSE:CRI) traded up 0.08% during midday trading on Friday, reaching $87.36. The company’s stock had a trading volume of 215,616 shares. The stock has a market capitalization of $4.37 billion, a P/E ratio of 18.78 and a beta of 0.66. The stock’s 50-day moving average is $92.95 and its 200 day moving average is $100.96. Carter’s has a 12 month low of $82.22 and a 12 month high of $112.58.
Carter’s (NYSE:CRI) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. Carter’s had a return on equity of 29.33% and a net margin of 7.86%. The firm earned $639 million during the quarter, compared to analyst estimates of $636.86 million. During the same quarter last year, the firm earned $0.73 EPS. Carter’s’s quarterly revenue was up 4.4% on a year-over-year basis.
In other news, CFO Richard F. Westenberger sold 2,500 shares of Carter’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $101.00, for a total value of $252,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Chicago Equity Partners LLC raised its position in Carter’s by 0.3% in the second quarter. Chicago Equity Partners LLC now owns 16,670 shares of the company’s stock worth $1,775,000 after buying an additional 50 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Carter’s by 0.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,442 shares of the company’s stock worth $686,000 after buying an additional 59 shares in the last quarter. Boston Private Wealth LLC increased its stake in shares of Carter’s by 0.7% in the second quarter. Boston Private Wealth LLC now owns 10,014 shares of the company’s stock worth $1,066,000 after buying an additional 72 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Carter’s by 0.4% in the first quarter. Loomis Sayles & Co. L P now owns 22,601 shares of the company’s stock worth $2,382,000 after buying an additional 82 shares in the last quarter. Finally, Comerica Bank increased its stake in shares of Carter’s by 0.3% in the second quarter. Comerica Bank now owns 38,717 shares of the company’s stock worth $3,871,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 90.76% of the company’s stock.
Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International. Its international segment includes Company-operated retail stores, wholesale and online operations in addition to royalty income from its international licensees.
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