Carter’s (NYSE:CRI) Stock Passes Above 200-Day Moving Average – What’s Next?

Carter’s, Inc. (NYSE:CRI)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $37.89 and traded as high as $38.21. Carter’s shares last traded at $38.00, with a volume of 842,245 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CRI. Wall Street Zen upgraded shares of Carter’s from a “buy” rating to a “strong-buy” rating in a report on Monday, August 10th. Wells Fargo & Company raised shares of Carter’s from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $30.00 to $42.00 in a research note on Wednesday, June 17th. UBS Group reaffirmed a “buy” rating on shares of Carter’s in a research note on Wednesday, July 8th. Weiss Ratings upgraded Carter’s from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Finally, Zacks Research cut Carter’s from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $41.17.

Carter’s Stock Down 0.7%

The company has a current ratio of 2.47, a quick ratio of 1.50 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $1.38 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 4.59 and a beta of 0.87. The firm has a 50-day moving average of $39.98 and a two-hundred day moving average of $37.92.

Carter’s (NYSE:CRI) last posted its quarterly earnings results on Friday, July 31st. The textile maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.20. The firm had revenue of $615.49 million during the quarter, compared to the consensus estimate of $605.68 million. Carter’s had a return on equity of 12.78% and a net margin of 6.55%.The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 earnings per share. On average, equities research analysts forecast that Carter’s, Inc. will post 3.12 EPS for the current year.

Institutional Investors Weigh In On Carter’s

Hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Carter’s in the 2nd quarter valued at approximately $139,000. Cullen Capital Management LLC bought a new position in Carter’s during the 2nd quarter worth approximately $258,000. Great Lakes Advisors LLC acquired a new position in shares of Carter’s in the 2nd quarter worth approximately $3,283,000. Bank of New York Mellon Corp bought a new stake in shares of Carter’s in the 2nd quarter valued at approximately $28,348,000. Finally, Bank of America Corp DE increased its holdings in shares of Carter’s by 5.0% in the 1st quarter. Bank of America Corp DE now owns 66,031 shares of the textile maker’s stock valued at $2,361,000 after acquiring an additional 3,132 shares during the last quarter.

Carter’s Company Profile

Carter’s, Inc (NYSE: CRI) is a leading designer and marketer of infant and young children’s apparel in North America. Headquartered in Atlanta, Georgia, the company’s core business focuses on creating clothing and accessories for babies and children, including bodysuits, sleepwear, layette, outerwear and accessories that blend comfort, safety and style. Carter’s flagship brand is complemented by its OshKosh B’gosh line, which offers heritage-inspired designs and durable fabrics for toddlers and young kids.

The company distributes its products through a diversified platform that includes wholesale partnerships with major department stores and mass merchandisers, direct?to?consumer e-commerce sites, and an extensive network of company-operated retail stores.