Carter's (NYSE:CRI) Shares Gap Down - What's Next?

Carter's, Inc. (NYSE:CRI - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $36.77, but opened at $32.98. Carter's shares last traded at $32.04, with a volume of 442,505 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on CRI shares. Barclays started coverage on shares of Carter's in a research note on Monday, April 28th. They issued an "underweight" rating and a $25.00 target price for the company. UBS Group cut their price target on shares of Carter's from $37.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Citigroup dropped their target price on shares of Carter's from $50.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Finally, Wells Fargo & Company raised their price objective on shares of Carter's from $25.00 to $28.00 and gave the stock an "underweight" rating in a research report on Wednesday, May 14th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $36.80.

Carter's Trading Down 9.7%

The business's fifty day simple moving average is $37.09 and its two-hundred day simple moving average is $46.81. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 5.24, a PEG ratio of 3.37 and a beta of 1.05. The company has a quick ratio of 0.96, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

Carter's (NYSE:CRI - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The textile maker reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.13. Carter's had a net margin of 8.11% and a return on equity of 27.15%. The firm had revenue of $291.09 million for the quarter, compared to analyst estimates of $624.86 million. During the same period last year, the firm posted $0.98 EPS. Carter's's quarterly revenue was down 4.8% on a year-over-year basis. On average, equities analysts predict that Carter's, Inc. will post 5.15 EPS for the current year.

Carter's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a $0.80 dividend. The ex-dividend date was Monday, March 10th. This represents a $3.20 annualized dividend and a dividend yield of 9.64%. Carter's's dividend payout ratio is presently 70.80%.

Institutional Investors Weigh In On Carter's

Institutional investors and hedge funds have recently made changes to their positions in the business. Wedge Capital Management L L P NC raised its stake in Carter's by 23.6% in the 4th quarter. Wedge Capital Management L L P NC now owns 37,026 shares of the textile maker's stock valued at $2,006,000 after purchasing an additional 7,075 shares during the last quarter. Merit Financial Group LLC acquired a new stake in Carter's in the fourth quarter valued at approximately $291,000. Crossmark Global Holdings Inc. purchased a new position in shares of Carter's during the 4th quarter valued at approximately $322,000. Sound Income Strategies LLC boosted its stake in shares of Carter's by 32.7% during the 4th quarter. Sound Income Strategies LLC now owns 232,840 shares of the textile maker's stock valued at $12,618,000 after buying an additional 57,346 shares during the last quarter. Finally, Impact Partnership Wealth LLC boosted its stake in shares of Carter's by 37.6% during the 4th quarter. Impact Partnership Wealth LLC now owns 5,100 shares of the textile maker's stock valued at $276,000 after buying an additional 1,393 shares during the last quarter.

About Carter's

Carter's, Inc engages in the business of brand marketing of young children's apparel. It operates through the following segments: the United States (US) Retail, US Wholesale, and International. The US Retail segment includes selling products through retail stores and ecommerce websites. The US Wholesale segment focuses on wholesale partners.

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