Carter’s (NYSE:CRI) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Carter’s (NYSE:CRI) from a hold rating to a sell rating in a report issued on Saturday morning.

Several other equities research analysts have also recently issued reports on CRI. Weiss Ratings reissued a “sell (d+)” rating on shares of Carter’s in a research note on Tuesday, October 14th. UBS Group increased their price target on Carter’s from $26.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Barclays raised their price objective on Carter’s from $23.00 to $26.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 28th. Citigroup upped their target price on shares of Carter’s from $28.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Finally, Zacks Research raised shares of Carter’s from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 16th. Three research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Strong Sell” and a consensus target price of $28.80.

Carter’s Trading Up 2.3%

Shares of CRI opened at $33.18 on Friday. Carter’s has a 12-month low of $23.38 and a 12-month high of $56.89. The firm has a market capitalization of $1.21 billion, a P/E ratio of 13.43 and a beta of 1.07. The firm has a 50-day moving average price of $31.75 and a 200 day moving average price of $30.06. The company has a current ratio of 2.26, a quick ratio of 0.95 and a debt-to-equity ratio of 0.58.

Carter’s (NYSE:CRI) last posted its earnings results on Monday, October 27th. The textile maker reported $0.74 earnings per share 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 analyst estimates of $760.11 million. During the same quarter in the previous year, the firm earned $1.64 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts forecast that Carter’s will post 5.15 EPS for the current year.

Carter’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 24th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, November 24th. Carter’s’s payout ratio is currently 40.49%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd increased its stake in Carter’s by 555.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,115 shares of the textile maker’s stock worth $31,000 after buying an additional 945 shares during the period. Morningstar Investment Management LLC acquired a new position in shares of Carter’s in the third quarter worth $845,000. Polymer Capital Management US LLC purchased a new stake in shares of Carter’s during the third quarter worth $681,000. Qube Research & Technologies Ltd raised its stake in shares of Carter’s by 96.1% in the third quarter. Qube Research & Technologies Ltd now owns 353,021 shares of the textile maker’s stock valued at $9,962,000 after acquiring an additional 173,007 shares in the last quarter. Finally, Prelude Capital Management LLC raised its stake in shares of Carter’s by 134.3% in the third quarter. Prelude Capital Management LLC now owns 18,743 shares of the textile maker’s stock valued at $529,000 after acquiring an additional 10,743 shares in the last quarter.

Carter’s Company Profile

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.