Carter's (NYSE:CRI) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Carter's (NYSE:CRI) from a hold rating to a buy rating in a research report report published on Tuesday, December 26th. The brokerage currently has $129.00 price objective on the textile maker’s stock.

According to Zacks, “Carter’s, Inc. is a leading provider of apparel and related products exclusively for babies and young children. The Company owns the Carter’s and OshKosh B’gosh brands, two of the most recognized brands in the marketplace. These brands are sold in leading department stores, national chains, and specialty retailers domestically and internationally and through Company-operated stores and on-line at carters.com and oshkoshbgosh.com. The Company’s Child of Mine brand is available at Walmart, and its Genuine Kids, Just One You, and Precious Firsts brands are available at Target. “

CRI has been the subject of several other research reports. Bank of America assumed coverage on Carter's in a report on Friday, September 15th. They issued a buy rating and a $106.00 price target for the company. Goldman Sachs Group assumed coverage on Carter's in a report on Tuesday, September 5th. They issued a buy rating and a $105.00 price target for the company. B. Riley increased their price target on Carter's from $111.00 to $124.00 and gave the company a buy rating in a report on Monday, December 18th. Citigroup increased their price target on Carter's from $108.00 to $112.00 and gave the company a buy rating in a report on Friday, October 27th. Finally, Oppenheimer set a $112.00 price target on Carter's and gave the company a buy rating in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $111.86.

Carter's (NYSE:CRI) opened at $118.35 on Tuesday. Carter's has a fifty-two week low of $77.94 and a fifty-two week high of $119.26. The company has a market capitalization of $5,600.00, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 2.08 and a beta of 0.37. The company has a current ratio of 3.20, a quick ratio of 1.34 and a debt-to-equity ratio of 0.89.

Carter's (NYSE:CRI) last announced its earnings results on Thursday, October 26th. The textile maker reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.05. Carter's had a return on equity of 33.38% and a net margin of 7.69%. The business had revenue of $948.23 million during the quarter, compared to analysts’ expectations of $950.64 million. During the same quarter in the prior year, the firm earned $1.61 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. equities research analysts expect that Carter's will post 5.64 EPS for the current fiscal year.

In related news, CFO Richard F. Westenberger sold 5,000 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $105.02, for a total value of $525,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Michael Dennis Casey sold 26,524 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $99.14, for a total value of $2,629,589.36. The disclosure for this sale can be found here. Insiders sold 130,507 shares of company stock valued at $13,569,276 over the last quarter. 3.10% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sawtooth Solutions LLC boosted its position in shares of Carter's by 1.2% during the second quarter. Sawtooth Solutions LLC now owns 2,632 shares of the textile maker’s stock worth $234,000 after buying an additional 31 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Carter's by 2.1% during the second quarter. PNC Financial Services Group Inc. now owns 1,704 shares of the textile maker’s stock worth $151,000 after buying an additional 35 shares during the period. Advisor Group Inc. boosted its position in shares of Carter's by 2.3% during the second quarter. Advisor Group Inc. now owns 3,549 shares of the textile maker’s stock worth $315,000 after buying an additional 79 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in shares of Carter's by 3.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,714 shares of the textile maker’s stock worth $241,000 after buying an additional 99 shares during the period. Finally, Comerica Bank boosted its position in shares of Carter's by 0.3% during the second quarter. Comerica Bank now owns 40,698 shares of the textile maker’s stock worth $3,576,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 98.67% of the company’s stock.

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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 owns two brand names in the children’s apparel industry, Carter’s and OshKosh B’gosh (OshKosh). The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International.

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