Carter’s Inc. (NYSE:CRI)‘s stock had its “outperform” rating reissued by equities researchers at Oppenheimer Holdings Inc. in a report released on Friday. They currently have a $115.00 price objective on the stock. Oppenheimer Holdings Inc.’s price objective would suggest a potential upside of 21.41% from the company’s current price.
CRI has been the subject of several other research reports. Cowen and Company began coverage on shares of Carter’s in a research note on Wednesday, July 13th. They set a “market perform” rating and a $110.00 price target for the company. Citigroup Inc. reaffirmed a “neutral” rating on shares of Carter’s in a research note on Wednesday, June 1st. Monness Crespi & Hardt raised shares of Carter’s from a “neutral” rating to a “buy” rating and set a $118.00 price target for the company in a research note on Monday, August 8th. Finally, Zacks Investment Research downgraded shares of Carter’s from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 29th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $112.75.
Shares of Carter’s (NYSE:CRI) opened at 94.72 on Friday. The firm’s 50-day moving average price is $99.96 and its 200 day moving average price is $102.52. Carter’s has a 52 week low of $82.22 and a 52 week high of $112.58. The stock has a market capitalization of $4.74 billion, a P/E ratio of 20.36 and a beta of 0.62.
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Carter’s (NYSE:CRI) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.06. Carter’s had a net margin of 7.86% and a return on equity of 29.33%. The firm earned $639 million during the quarter, compared to the consensus estimate of $636.86 million. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. Analysts expect that Carter’s will post $5.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Tuesday, August 30th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.39%. The ex-dividend date was Friday, August 26th. Carter’s’s dividend payout ratio is currently 28.39%.
In other Carter’s news, CFO Richard F. Westenberger sold 2,500 shares of Carter’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $101.00, for a total value of $252,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.10% of the stock is currently owned by company insiders.
Several large investors recently made changes to their positions in CRI. Bancorpsouth Inc. bought a new stake in shares of Carter’s during the first quarter worth $220,000. Genesee Valley Trust Co. bought a new stake in shares of Carter’s during the second quarter worth $223,000. Pacific Global Investment Management CO bought a new stake in shares of Carter’s during the first quarter worth $226,000. Acrospire Investment Management LLC bought a new stake in shares of Carter’s during the first quarter worth $274,000. Finally, CIBC World Markets Inc. bought a new stake in shares of Carter’s during the first quarter worth $284,000. 92.10% of the stock is currently owned by hedge funds and other institutional investors.
Carter’s Company Profile
Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International. Its international segment includes Company-operated retail stores, wholesale and online operations in addition to royalty income from its international licensees.
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