UBS Group Cuts Carter’s (NYSE:CRI) Price Target to $49.00

Carter’s (NYSE:CRI) had its target price lowered by UBS Group from $57.00 to $49.00 in a report released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the textile maker’s stock.

Several other analysts have also weighed in on CRI. Citigroup lowered their target price on Carter’s from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday. Wells Fargo & Company decreased their price objective on shares of Carter’s from $65.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $49.00.

Carter’s Stock Performance

Shares of CRI opened at $41.30 on Wednesday. The company has a market capitalization of $1.49 billion, a PE ratio of 6.56, a P/E/G ratio of 3.37 and a beta of 1.21. Carter’s has a 52-week low of $40.76 and a 52-week high of $88.03. The company has a 50-day simple moving average of $52.30 and a 200-day simple moving average of $58.00. 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) last issued its earnings results on Tuesday, February 25th. The textile maker reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.52. The company had revenue of $859.70 million during the quarter, compared to analysts’ expectations of $835.82 million. Carter’s had a net margin of 8.11% and a return on equity of 27.15%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $2.76 earnings per share. Equities research analysts predict that Carter’s will post 5.15 earnings per share for the current fiscal year.

Carter’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a $0.80 dividend. The ex-dividend date is Monday, March 10th. This represents a $3.20 annualized dividend and a dividend yield of 7.75%. Carter’s’s dividend payout ratio is currently 62.62%.

Institutional Trading of Carter’s

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRI. Jones Financial Companies Lllp lifted its holdings in Carter’s by 114.4% in the 4th quarter. Jones Financial Companies Lllp now owns 506 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 270 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Carter’s during the third quarter valued at approximately $28,000. EverSource Wealth Advisors LLC boosted its position in Carter’s by 2,112.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 531 shares of the textile maker’s stock worth $29,000 after acquiring an additional 507 shares during the last quarter. Colonial Trust Co SC acquired a new stake in Carter’s during the fourth quarter worth approximately $29,000. Finally, Venturi Wealth Management LLC grew its stake in Carter’s by 221.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 726 shares of the textile maker’s stock worth $47,000 after acquiring an additional 500 shares during the period.

Carter’s Company Profile

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.