Carter’s, Inc. (NYSE:CRI) Receives $70.50 Average PT from Brokerages

Carter’s, Inc. (NYSE:CRI) has received an average recommendation of “Reduce” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $70.50.

Separately, Bank of America reduced their price target on Carter’s from $65.00 to $54.00 and set an “underperform” rating on the stock in a report on Monday, July 29th.

Carter’s Trading Down 1.0 %

Shares of Carter’s stock opened at $65.99 on Friday. The firm has a market capitalization of $2.41 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 3.71 and a beta of 1.22. The company has a current ratio of 2.09, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $62.53 and its 200 day moving average is $70.47. Carter’s has a 1 year low of $54.74 and a 1 year high of $88.03.

Carter’s (NYSE:CRI) last posted its earnings results on Friday, July 26th. The textile maker reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.31. Carter’s had a net margin of 8.29% and a return on equity of 28.65%. The firm had revenue of $564.43 million for the quarter, compared to analysts’ expectations of $566.79 million. Equities research analysts forecast that Carter’s will post 4.87 earnings per share for the current fiscal year.

Carter’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date is Tuesday, August 27th. Carter’s’s dividend payout ratio is presently 50.47%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CRI. Gladius Capital Management LP bought a new position in Carter’s during the second quarter worth $30,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Carter’s in the 4th quarter worth about $37,000. CWM LLC lifted its stake in shares of Carter’s by 431.3% in the 2nd quarter. CWM LLC now owns 595 shares of the textile maker’s stock valued at $37,000 after purchasing an additional 483 shares during the period. Abich Financial Wealth Management LLC boosted its position in shares of Carter’s by 67.6% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 858 shares of the textile maker’s stock valued at $53,000 after purchasing an additional 346 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in Carter’s by 457.2% during the fourth quarter. Parallel Advisors LLC now owns 808 shares of the textile maker’s stock worth $61,000 after purchasing an additional 663 shares during the period.

Carter’s Company Profile

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Little Planet, and other brands in the United States and internationally. It operates through three segments: U.S.