Carter’s (NYSE:CRI) Rating Increased to Strong-Buy at BMO Capital Markets

BMO Capital Markets upgraded shares of Carter’s (NYSE:CRI) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks reports.

CRI has been the topic of a number of other research reports. Capital One Financial set a $40.00 price target on Carter’s in a research report on Tuesday. UBS Group reiterated a “buy” rating on shares of Carter’s in a research report on Wednesday, July 8th. Wall Street Zen lowered shares of Carter’s from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Weiss Ratings raised shares of Carter’s from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Finally, Wells Fargo & Company raised shares of Carter’s from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $30.00 to $42.00 in a research note on Wednesday, June 17th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $40.88.

Carter’s Stock Performance

Shares of NYSE CRI opened at $30.19 on Tuesday. The company has a market capitalization of $1.11 billion, a PE ratio of 5.65, a price-to-earnings-growth ratio of 3.61 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.50 and a current ratio of 2.47. The company’s fifty day moving average price is $37.13 and its 200 day moving average price is $37.32. Carter’s has a 1 year low of $27.15 and a 1 year high of $44.44.

Carter’s (NYSE:CRI) last released its quarterly earnings data on Friday, July 31st. The textile maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.20. Carter’s had a net margin of 6.55% and a return on equity of 12.78%. The company had revenue of $615.49 million during the quarter, compared to analysts’ expectations of $605.68 million. During the same quarter in the previous year, the company earned $0.17 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, research analysts predict that Carter’s will post 3.28 earnings per share for the current year.

Carter’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 1st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 1st. Carter’s’s dividend payout ratio (DPR) is 18.73%.

Hedge Funds Weigh In On Carter’s

Institutional investors have recently bought and sold shares of the company. UMB Bank n.a. grew its holdings in shares of Carter’s by 445.8% during the 4th quarter. UMB Bank n.a. now owns 775 shares of the textile maker’s stock worth $25,000 after purchasing an additional 633 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in 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 buying an additional 945 shares during the period. EverSource Wealth Advisors LLC lifted its position in Carter’s by 202.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,486 shares of the textile maker’s stock valued at $45,000 after buying an additional 995 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Carter’s by 21.8% in the fourth quarter. Hantz Financial Services Inc. now owns 1,577 shares of the textile maker’s stock valued at $51,000 after buying an additional 282 shares during the last quarter. Finally, State of Wyoming boosted its stake in Carter’s by 1,380.6% during the fourth quarter. State of Wyoming now owns 2,132 shares of the textile maker’s stock worth $69,000 after buying an additional 1,988 shares during the period.

About Carter’s

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.