Carter’s, Inc. (NYSE:CRI) Receives Average Rating of “Reduce” from Brokerages

Carter’s, Inc. (NYSE:CRI) has been given a consensus rating of “Reduce” by the seven brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $71.17.

A number of brokerages have issued reports on CRI. Wells Fargo & Company increased their price target on Carter’s from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Monday, September 9th. Bank of America lowered their price target on shares of Carter’s from $65.00 to $54.00 and set an “underperform” rating for the company in a report on Monday, July 29th.

Carter’s Stock Performance

CRI stock opened at $66.31 on Tuesday. The stock has a market capitalization of $2.42 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 4.35 and a beta of 1.23. Carter’s has a 12-month low of $54.74 and a 12-month high of $88.03. 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 stock’s 50 day simple moving average is $64.58 and its 200 day simple moving average is $68.74.

Carter’s (NYSE:CRI) last released its quarterly earnings results on Friday, July 26th. The textile maker reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.31. The firm had revenue of $564.43 million for the quarter, compared to analysts’ expectations of $566.79 million. Carter’s had a return on equity of 28.65% and a net margin of 8.29%. As a group, research analysts forecast that Carter’s will post 4.9 earnings per share for the current fiscal year.

Carter’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend was Tuesday, August 27th. Carter’s’s dividend payout ratio is currently 50.47%.

Institutional Investors Weigh In On Carter’s

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new position in shares of Carter’s in the second quarter worth about $231,000. Creative Planning purchased a new stake in Carter’s during the 2nd quarter valued at about $294,000. Algert Global LLC purchased a new stake in Carter’s during the 2nd quarter valued at about $227,000. Dark Forest Capital Management LP purchased a new stake in Carter’s during the 2nd quarter valued at about $2,730,000. Finally, AQR Capital Management LLC grew its stake in Carter’s by 50.7% during the 2nd quarter. AQR Capital Management LLC now owns 555,568 shares of the textile maker’s stock valued at $34,212,000 after acquiring an additional 186,894 shares in the last quarter.

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.