Carter’s (NYSE:CRI) Shares Gap Up – Time to Buy?
by Jessica Moore · The Cerbat GemCarter’s, Inc. (NYSE:CRI – Get Free Report)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $34.64, but opened at $36.55. Carter’s shares last traded at $34.6270, with a volume of 368,030 shares trading hands.
Analysts Set New Price Targets
CRI has been the subject of several research reports. Citigroup increased their target price on shares of Carter’s from $28.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. The Goldman Sachs Group assumed coverage on Carter’s in a report on Thursday, December 11th. They set a “sell” rating and a $26.00 target price for the company. Zacks Research raised Carter’s from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. Barclays boosted their price objective on Carter’s from $23.00 to $26.00 and gave the company an “underweight” rating in a research report on Tuesday, October 28th. Finally, Wells Fargo & Company increased their target price on Carter’s from $22.00 to $25.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 28th. Three investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Strong Sell” and a consensus price target of $28.80.
Carter’s Trading Up 2.4%
The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 14.37 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.95 and a current ratio of 2.26. The company’s 50 day simple moving average is $31.95 and its two-hundred day simple moving average is $30.18.
Carter’s (NYSE:CRI – Get Free Report) last released its quarterly earnings results on Monday, October 27th. The textile maker reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.04). Carter’s had a return on equity of 16.71% and a net margin of 3.15%.The company had revenue of $757.84 million for the quarter, compared to the consensus estimate of $760.11 million. During the same quarter last year, the company posted $1.64 EPS. The business’s revenue was down .1% compared to the same quarter last year. Research analysts expect that Carter’s, Inc. will post 5.15 EPS for the current fiscal year.
Carter’s Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 24th were given a dividend of $0.25 per share. The ex-dividend date was Monday, November 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. Carter’s’s dividend payout ratio (DPR) is 40.49%.
Institutional Investors Weigh In On Carter’s
Several hedge funds and other institutional investors have recently made changes to their positions in CRI. Allianz Asset Management GmbH increased its holdings in Carter’s by 32.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 836,495 shares of the textile maker’s stock worth $25,204,000 after purchasing an additional 204,938 shares in the last quarter. CWM LLC boosted its position in Carter’s by 90.5% during the 2nd quarter. CWM LLC now owns 18,452 shares of the textile maker’s stock worth $556,000 after acquiring an additional 8,768 shares during the last quarter. Salem Investment Counselors Inc. grew its stake in shares of Carter’s by 46,222.5% during the 2nd quarter. Salem Investment Counselors Inc. now owns 92,645 shares of the textile maker’s stock worth $2,791,000 after acquiring an additional 92,445 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Carter’s during the 2nd quarter worth approximately $4,397,000. Finally, Wedge Capital Management L L P NC raised its holdings in shares of Carter’s by 46.2% in the second quarter. Wedge Capital Management L L P NC now owns 75,928 shares of the textile maker’s stock valued at $2,288,000 after purchasing an additional 23,983 shares during the last quarter.
About Carter’s
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.