Carter's (NYSE:CRI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
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. “
A number of other equities analysts also recently weighed in on CRI. Wells Fargo & Co set a $145.00 target price on shares of Carter's and gave the stock a “buy” rating in a research note on Monday. Citigroup boosted their target price on shares of Carter's from $132.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $137.00 target price (up from $115.00) on shares of Carter's in a research note on Friday, February 23rd. Oppenheimer boosted their target price on shares of Carter's from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Finally, Cowen set a $118.00 target price on shares of Carter's and gave the stock a “hold” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. Carter's has a consensus rating of “Buy” and a consensus target price of $120.77.
Carter's (NYSE:CRI) last announced its earnings results on Tuesday, February 27th. The textile maker reported $2.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.12. Carter's had a net margin of 8.90% and a return on equity of 35.46%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $1.79 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. analysts expect that Carter's will post 6.65 earnings per share for the current fiscal year.
Carter's announced that its board has authorized a share buyback program on Tuesday, February 27th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the textile maker to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In related news, insider Brian Lynch sold 26,500 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $116.12, for a total transaction of $3,077,180.00. The transaction 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 business’s stock in a transaction that occurred 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 own 3.10% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Aperio Group LLC increased its stake in Carter's by 30.9% in the third quarter. Aperio Group LLC now owns 10,939 shares of the textile maker’s stock valued at $1,080,000 after purchasing an additional 2,581 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in Carter's in the third quarter valued at approximately $505,000. State Board of Administration of Florida Retirement System increased its stake in Carter's by 1.4% in the third quarter. State Board of Administration of Florida Retirement System now owns 71,878 shares of the textile maker’s stock valued at $7,098,000 after purchasing an additional 980 shares in the last quarter. Boston Partners increased its stake in Carter's by 70.6% in the third quarter. Boston Partners now owns 83,513 shares of the textile maker’s stock valued at $8,247,000 after purchasing an additional 34,556 shares in the last quarter. Finally, FDx Advisors Inc. increased its stake in Carter's by 34.6% in the third quarter. FDx Advisors Inc. now owns 10,312 shares of the textile maker’s stock valued at $1,018,000 after purchasing an additional 2,653 shares in the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.
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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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