Wall Street Zen Upgrades Carter's (NYSE:CRI) to "Strong-Buy"

Key Points

• Wall Street Zen upgraded Carter’s from “buy” to “strong-buy,” although broader analyst sentiment remains “Hold,” with four Buy, three Hold, and two Sell ratings and a consensus price target of $41.17.
• Carter’s shares opened at $39.89 and were down 0.2%; the stock has traded between $23.93 and $44.44 over the past year.
• The company exceeded quarterly expectations, reporting $0.26 in EPS versus a $0.06 estimate and $615.49 million in revenue versus $605.68 million expected, with revenue rising 5.2% year over year.

Carter's (NYSE:CRI - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Monday.

CRI has been the topic of several other reports. Citigroup restated a "buy" rating on shares of Carter's in a research report on Tuesday, July 21st. Zacks Research lowered shares of Carter's from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Wells Fargo & Company raised shares of Carter's from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $30.00 to $42.00 in a research note on Wednesday, June 17th. Weiss Ratings reissued a "sell (d+)" rating on shares of Carter's in a report on Friday, July 31st. Finally, UBS Group restated a "buy" rating on shares of Carter's in a research report on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $41.17.

Carter's Trading Down 0.2%

Shares of CRI stock opened at $39.89 on Monday. The company has a market capitalization of $1.46 billion, a PE ratio of 7.47, a price-to-earnings-growth ratio of 4.73 and a beta of 0.87. Carter's has a 52-week low of $23.93 and a 52-week high of $44.44. The business's fifty day moving average is $39.97 and its 200 day moving average is $37.76. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.50 and a current ratio of 2.47.

Carter's (NYSE:CRI - Get Free Report) last posted its earnings results on Friday, July 31st. The textile maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.06 by $0.20. Carter's had a return on equity of 12.78% and a net margin of 6.55%.The business had revenue of $615.49 million during the quarter, compared to analysts' expectations of $605.68 million. During the same period in the previous year, the business earned $0.17 earnings per share. The firm's revenue was up 5.2% on a year-over-year basis. On average, equities research analysts anticipate that Carter's will post 3.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Carter's

Institutional investors and hedge funds have recently made changes to their positions in the business. UMB Bank n.a. grew its stake in shares of Carter's by 445.8% in the fourth 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 last quarter. Caitong International Asset Management Co. Ltd raised its position in 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 valued at $31,000 after purchasing an additional 945 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Carter's by 202.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,486 shares of the textile maker's stock worth $45,000 after buying an additional 995 shares during the period. Hantz Financial Services Inc. grew its position in shares of Carter's by 21.8% in the 4th quarter. Hantz Financial Services Inc. now owns 1,577 shares of the textile maker's stock worth $51,000 after buying an additional 282 shares during the last quarter. Finally, State of Wyoming grew its position in shares of 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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