Carter's (NYSE:CRI) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Carter’s shares moved above their 200-day moving average of $37.89, reaching $38.21 before closing at $38.00 on trading volume of 842,245 shares.
• Analysts maintain a mixed outlook, with a consensus “Hold” rating from MarketBeat and an average price target of $41.17; Monness Crespi & Hardt raised its target to $50 and several firms reiterated “Buy” ratings.
• The company exceeded quarterly expectations, reporting adjusted EPS of $0.26 versus the $0.06 consensus and revenue of $615.49 million, up 5.2% year over year.

Shares of Carter's, Inc. (NYSE:CRI - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $37.89 and traded as high as $38.21. Carter's shares last traded at $38.00, with a volume of 842,245 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Monness Crespi & Hardt increased their price target on Carter's from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Citigroup restated a "buy" rating on shares of Carter's in a research note on Tuesday, July 21st. Weiss Ratings upgraded shares of Carter's from a "sell (d+)" rating to a "hold (c)" rating in a report on Thursday. UBS Group reiterated a "buy" rating on shares of Carter's in a research note on Wednesday, July 8th. Finally, Wall Street Zen raised shares of Carter's from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Carter's currently has a consensus rating of "Hold" and an average target price of $41.17.

Carter's Trading Down 1.9%

The firm has a market cap of $1.39 billion, a PE ratio of 7.12, a price-to-earnings-growth ratio of 4.59 and a beta of 0.87. The company has a 50-day simple moving average of $40.02 and a 200 day simple moving average of $37.89. 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 (NYSE:CRI - Get Free Report) last posted its earnings results on Friday, July 31st. The textile maker reported $0.26 earnings per share 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 firm had revenue of $615.49 million during the quarter, compared to analyst estimates of $605.68 million. During the same period in the previous year, the firm earned $0.17 EPS. The business's quarterly revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that Carter's, Inc. will post 3.12 earnings per share for the current fiscal year.

Institutional Trading of Carter's

Institutional investors and hedge funds have recently made changes to their positions in the business. UMB Bank n.a. raised its position in Carter's by 445.8% during the fourth quarter. UMB Bank n.a. now owns 775 shares of the textile maker's stock worth $25,000 after acquiring an additional 633 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Carter's by 555.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,115 shares of the textile maker's stock worth $31,000 after purchasing an additional 945 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Carter's by 202.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,486 shares of the textile maker's stock worth $45,000 after purchasing an additional 995 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in Carter's by 21.8% in the 4th 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 in the last quarter. Finally, State of Wyoming boosted its holdings in Carter's by 1,380.6% in the 4th 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 last quarter.

Carter's Company Profile

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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