Carter’s (NYSE:CRI) Shares Gap Up – Should You Buy?

Shares of Carter’s, Inc. (NYSE:CRI) gapped up before the market opened on Tuesday . The stock had previously closed at $52.68, but opened at $54.13. Carter’s shares last traded at $54.26, with a volume of 82,072 shares.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Bank of America reduced their target price on Carter’s from $65.00 to $54.00 and set an “underperform” rating on the stock in a report on Monday, July 29th. Citigroup raised Carter’s from a “sell” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research note on Tuesday. Finally, Wells Fargo & Company cut their price target on shares of Carter’s from $72.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $67.67.

Carter’s Stock Performance

The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 3.21 and a beta of 1.24. The company has a current ratio of 2.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60. The stock has a 50-day simple moving average of $62.91 and a 200-day simple moving average of $64.10.

Institutional Investors Weigh In On Carter’s

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its stake in Carter’s by 99.9% in the third quarter. FMR LLC now owns 4,681 shares of the textile maker’s stock worth $304,000 after purchasing an additional 2,339 shares in the last quarter. Truvestments Capital LLC bought a new position in Carter’s in the third quarter worth about $74,000. Dynamic Technology Lab Private Ltd acquired a new position in Carter’s in the third quarter valued at approximately $683,000. Cerity Partners LLC grew its holdings in shares of Carter’s by 50.7% during the third quarter. Cerity Partners LLC now owns 17,941 shares of the textile maker’s stock valued at $1,166,000 after purchasing an additional 6,038 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Carter’s by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,171,810 shares of the textile maker’s stock worth $76,144,000 after purchasing an additional 42,589 shares during the period.

Carter’s Company Profile

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Little Planet, and other brands in the United States and internationally. It operates through three segments: U.S.