Carter’s (NYSE:CRI) Trading 7% Higher – What’s Next?

Carter’s, Inc. (NYSE:CRI)’s stock price was up 7% during trading on Tuesday . The stock traded as high as $31.16 and last traded at $32.0150. Approximately 50,690 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 1,448,990 shares. The stock had previously closed at $29.93.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CRI shares. Citigroup upped their price target 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. Zacks Research cut Carter’s from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. UBS Group raised their target price on Carter’s from $26.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Wells Fargo & Company boosted their price target on Carter’s from $22.00 to $25.00 and gave the stock an “underweight” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Carter’s in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Carter’s has a consensus rating of “Strong Sell” and an average target price of $29.50.

Carter’s Stock Up 3.6%

The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 13.08 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.26 and a quick ratio of 1.03. The firm’s fifty day moving average price is $30.55 and its 200-day moving average price is $30.21.

Carter’s (NYSE:CRI) last posted its earnings results on Monday, October 27th. The textile maker reported $0.74 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.04). Carter’s had a net margin of 3.15% and a return on equity of 16.71%. The firm had revenue of $757.84 million during the quarter, compared to the consensus estimate of $760.11 million. During the same quarter in the prior year, the business posted $1.64 earnings per share. Carter’s’s revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts expect that Carter’s, Inc. will post 5.15 earnings per share for the current fiscal year.

Carter’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 24th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, November 24th. This represents a $1.00 annualized dividend and a yield of 3.1%. Carter’s’s dividend payout ratio (DPR) is currently 40.49%.

Hedge Funds Weigh In On Carter’s

A number of hedge funds and other institutional investors have recently made changes to their positions in CRI. Signaturefd LLC increased its position in Carter’s by 269.0% during the 2nd quarter. Signaturefd LLC now owns 1,000 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 729 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Carter’s by 555.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,115 shares of the textile maker’s stock valued at $31,000 after purchasing an additional 945 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Carter’s by 1,208.1% during the third quarter. Hantz Financial Services Inc. now owns 1,295 shares of the textile maker’s stock worth $37,000 after buying an additional 1,196 shares during the period. US Bancorp DE increased its position in shares of Carter’s by 45.0% during the first quarter. US Bancorp DE now owns 1,408 shares of the textile maker’s stock worth $58,000 after buying an additional 437 shares during the period. Finally, Headlands Technologies LLC bought a new position in Carter’s during the first quarter worth $58,000.

Carter’s Company Profile

Carter’s, Inc engages in the business of brand marketing of young children’s apparel. It operates through the following segments: the United States (US) Retail, US Wholesale, and International. The US Retail segment includes selling products through retail stores and ecommerce websites. The US Wholesale segment focuses on wholesale partners.