Carter's (NYSE:CRI) Raised to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Carter’s from “buy” to “strong-buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $40.88.
• Carter’s reported quarterly EPS of $0.26, exceeding the $0.06 consensus estimate, while revenue rose 5.2% year over year to $615.49 million.
• The stock opened at $30.50, below its 50-day and 200-day moving averages, with shares trading between a 12-month low of $27.15 and high of $44.44.

Carter's (NYSE:CRI - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday, Wall Street Zen reports.

CRI has been the topic of a number of other research reports. Capital One Financial set a $40.00 target price on Carter's in a research note on Tuesday. Weiss Ratings upgraded shares of Carter's from a "sell (d+)" rating to a "hold (c)" rating in a report on Thursday, August 13th. Zacks Research raised shares of Carter's from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 21st. UBS Group reaffirmed a "buy" rating on shares of Carter's in a research note on Wednesday, July 8th. Finally, Citigroup reissued a "buy" rating on shares of Carter's in a research report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.88.

Carter's Price Performance

Carter's stock opened at $30.50 on Friday. The firm has a 50-day moving average price of $36.92 and a 200-day moving average price of $37.28. The firm has a market capitalization of $1.12 billion, a PE ratio of 5.71, a price-to-earnings-growth ratio of 3.40 and a beta of 0.84. The company has a current ratio of 2.47, a quick ratio of 1.50 and a debt-to-equity ratio of 0.55. Carter's has a 12-month low of $27.15 and a 12-month high of $44.44.

Carter's (NYSE:CRI - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The textile maker reported $0.26 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $605.68 million. During the same period in the prior year, the firm posted $0.17 EPS. The firm's revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts forecast that Carter's will post 3.28 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd raised its holdings in shares of Carter's by 1.9% in the 2nd quarter. WINTON GROUP Ltd now owns 17,560 shares of the textile maker's stock valued at $723,000 after purchasing an additional 322 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Carter's during the second quarter valued at approximately $2,260,000. Squarepoint Ops LLC increased its holdings in Carter's by 114.7% during the second quarter. Squarepoint Ops LLC now owns 97,709 shares of the textile maker's stock valued at $4,022,000 after buying an additional 52,193 shares during the period. Nykredit A S purchased a new position in shares of Carter's in the 2nd quarter valued at $72,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Carter's in the 2nd quarter worth $399,000.

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.

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