Zacks Investment Research Lowers Carter's (CRI) to Hold

Zacks Investment Research lowered shares of Carter's (NYSE:CRI) from a buy rating to a hold rating in a research note released on Thursday.

According to Zacks, “Carter’s, Inc. is a leading provider of apparel and related products exclusively for babies and young children. The Company owns the Carter’s and OshKosh B’gosh brands, two of the most recognized brands in the marketplace. These brands are sold in leading department stores, national chains, and specialty retailers domestically and internationally and through Company-operated stores and on-line at carters.com and oshkoshbgosh.com. The Company’s Child of Mine brand is available at Walmart, and its Genuine Kids, Just One You, and Precious Firsts brands are available at Target. “

Several other research analysts also recently commented on CRI. B. Riley restated a buy rating on shares of Carter's in a research report on Wednesday, November 1st. Wells Fargo & Co restated a market perform rating and set a $123.00 price objective (up from $105.00) on shares of Carter's in a research report on Thursday, January 11th. Oppenheimer boosted their price objective on shares of Carter's from $112.00 to $125.00 and gave the company an outperform rating in a research report on Monday, December 18th. SunTrust Banks began coverage on shares of Carter's in a research report on Wednesday, December 27th. They set a hold rating and a $126.00 price objective for the company. Finally, FBR & Co restated a buy rating and set a $111.00 price objective on shares of Carter's in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $112.00.

Shares of Carter's (CRI) traded up $1.21 on Thursday, reaching $120.45. 615,980 shares of the company’s stock traded hands, compared to its average volume of 424,819. Carter's has a 1-year low of $77.94 and a 1-year high of $120.90. The firm has a market capitalization of $5,700.06, a P/E ratio of 22.94, a P/E/G ratio of 1.82 and a beta of 0.37. The company has a current ratio of 3.20, a quick ratio of 1.34 and a debt-to-equity ratio of 0.89.

Carter's (NYSE:CRI) last announced its quarterly earnings data on Thursday, October 26th. The textile maker reported $1.70 EPS for the quarter, beating the consensus estimate of $1.65 by $0.05. Carter's had a net margin of 7.69% and a return on equity of 33.38%. The business had revenue of $948.23 million during the quarter, compared to the consensus estimate of $950.64 million. During the same period in the previous year, the business earned $1.61 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. equities analysts expect that Carter's will post 5.64 earnings per share for the current year.

In other news, Chairman Michael Dennis Casey sold 26,524 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $99.14, for a total transaction of $2,629,589.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg Foglesong sold 6,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $117.98, for a total transaction of $707,880.00. The disclosure for this sale can be found here. Insiders have sold 130,507 shares of company stock valued at $13,569,276 over the last quarter. Company insiders own 3.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norris Perne & French LLP MI increased its holdings in Carter's by 3.1% in the third quarter. Norris Perne & French LLP MI now owns 56,853 shares of the textile maker’s stock valued at $5,614,000 after purchasing an additional 1,722 shares during the period. Strategic Global Advisors LLC acquired a new stake in Carter's in the third quarter valued at $287,000. Davidson Kempner Capital Management LP acquired a new stake in Carter's in the second quarter valued at $14,454,000. Rhumbline Advisers increased its holdings in Carter's by 12.5% in the third quarter. Rhumbline Advisers now owns 106,540 shares of the textile maker’s stock valued at $10,521,000 after purchasing an additional 11,836 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Carter's in the third quarter valued at $2,550,000. Institutional investors and hedge funds own 98.67% of the company’s stock.

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About Carter's

Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh B’gosh (OshKosh). The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International.

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