Investment analysts at UBS Group initiated coverage on shares of Carter’s (NYSE:CRI) in a research report issued on Thursday, www.benzinga.com reports. The firm set a “neutral” rating and a $114.00 price target on the textile maker’s stock. UBS Group’s price objective would indicate a potential upside of 4.12% from the company’s current price.
Other analysts have also issued research reports about the stock. Monness Crespi & Hardt restated a “buy” rating and issued a $137.00 target price (up previously from $115.00) on shares of Carter’s in a research report on Friday, February 23rd. B. Riley set a $127.00 target price on shares of Carter’s and gave the company a “buy” rating in a research report on Monday, March 26th. Wells Fargo & Co set a $145.00 target price on shares of Carter’s and gave the company a “buy” rating in a research report on Monday, March 12th. Citigroup raised their target price on shares of Carter’s from $132.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Finally, Zacks Investment Research upgraded shares of Carter’s from a “hold” rating to a “buy” rating and set a $135.00 target price on the stock in a research report on Monday, February 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Carter’s currently has an average rating of “Hold” and an average target price of $120.92.
Carter’s opened at $109.49 on Thursday, according to Marketbeat. The company has a current ratio of 4.14, a quick ratio of 2.02 and a debt-to-equity ratio of 0.72. The company has a market cap of $5.28 billion, a P/E ratio of 19.07, a PEG ratio of 1.91 and a beta of 0.42. Carter’s has a 1 year low of $83.84 and a 1 year high of $129.00.
Carter’s (NYSE:CRI) last issued its earnings results on Thursday, April 26th. The textile maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.11. Carter’s had a net margin of 8.72% and a return on equity of 35.09%. The firm had revenue of $755.79 million for the quarter, compared to analyst estimates of $744.23 million. During the same quarter last year, the business posted $0.97 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. equities analysts expect that Carter’s will post 6.41 EPS for the current year.
Carter’s declared that its board has initiated a stock buyback plan on Tuesday, February 27th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the textile maker to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
In other news, EVP Kevin Doyle Corning sold 3,491 shares of the firm’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $108.51, for a total transaction of $378,808.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Pulver purchased 3,000 shares of the company’s stock in a transaction dated Tuesday, May 1st. The shares were acquired at an average cost of $100.32 per share, with a total value of $300,960.00. Following the purchase, the director now directly owns 55,664 shares of the company’s stock, valued at approximately $5,584,212.48. The disclosure for this purchase can be found here. 3.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new position in Carter’s during the first quarter worth $1,392,000. Suntrust Banks Inc. raised its stake in Carter’s by 11.1% during the first quarter. Suntrust Banks Inc. now owns 21,437 shares of the textile maker’s stock worth $2,231,000 after buying an additional 2,142 shares during the last quarter. Allianz Asset Management GmbH raised its stake in Carter’s by 7.5% during the first quarter. Allianz Asset Management GmbH now owns 276,460 shares of the textile maker’s stock worth $28,779,000 after buying an additional 19,249 shares during the last quarter. Amalgamated Bank raised its stake in Carter’s by 6.5% during the first quarter. Amalgamated Bank now owns 10,478 shares of the textile maker’s stock worth $1,091,000 after buying an additional 635 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Carter’s by 3.6% during the first quarter. Principal Financial Group Inc. now owns 210,580 shares of the textile maker’s stock worth $21,921,000 after buying an additional 7,230 shares during the last quarter. 95.25% of the stock is owned by institutional investors and hedge funds.
Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, Child of Mine, Just One You, Precious Firsts, Simple Joys, OshKosh, Skip Hop, and other brands. The company operates through three segments: U.S. Retail, U.S. Wholesale, and International.
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