Carter's (NYSE:CRI) Upgraded by Zacks Research to Hold Rating

Key Points

• Carter's has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, reflecting a shift in analyst sentiment.
• Despite the upgrade, UBS Group lowered their price target on Carter's shares from $32.00 to $26.00, indicating mixed opinions among analysts.
• Carter's reported a quarterly revenue of $585.31 million, surpassing analyst expectations but experiencing a notable earnings miss with an EPS of only $0.17.

Carter's (NYSE:CRI - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the stock. UBS Group lowered their price target on shares of Carter's from $32.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Barclays lifted their price target on shares of Carter's from $22.00 to $23.00 and gave the company an "underweight" rating in a research report on Tuesday. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Carter's in a research note on Tuesday. Three investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $30.50.

Carter's Trading Up 5.1%

NYSE:CRI opened at $31.25 on Monday. The company has a 50-day moving average price of $28.32 and a 200-day moving average price of $31.27. Carter's has a 12 month low of $23.38 and a 12 month high of $68.69. The company has a current ratio of 2.20, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 8.29 and a beta of 1.07.

Carter's (NYSE:CRI - Get Free Report) last posted its earnings results on Friday, July 25th. The textile maker reported $0.17 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.26). Carter's had a return on equity of 20.68% and a net margin of 4.79%.The company had revenue of $585.31 million during the quarter, compared to analysts' expectations of $563.24 million. During the same period in the prior year, the business posted $0.76 earnings per share. The company's revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts predict that Carter's will post 5.15 EPS for the current year.

Hedge Funds Weigh In On Carter's

Several large investors have recently added to or reduced their stakes in the company. HBK Sorce Advisory LLC lifted its holdings in Carter's by 28.1% during the third quarter. HBK Sorce Advisory LLC now owns 23,990 shares of the textile maker's stock valued at $724,000 after purchasing an additional 5,258 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Carter's by 11.3% in the third quarter. Exchange Traded Concepts LLC now owns 8,826 shares of the textile maker's stock worth $249,000 after purchasing an additional 897 shares during the last quarter. Thompson Davis & CO. Inc. bought a new stake in Carter's in the second quarter worth $1,395,000. Public Sector Pension Investment Board increased its position in Carter's by 8.8% in the second quarter. Public Sector Pension Investment Board now owns 124,283 shares of the textile maker's stock worth $3,745,000 after purchasing an additional 10,036 shares during the last quarter. Finally, FORA Capital LLC increased its position in Carter's by 121.8% in the second quarter. FORA Capital LLC now owns 38,936 shares of the textile maker's stock worth $1,173,000 after purchasing an additional 21,378 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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