Carter’s (NYSE:CRI) Trading Down 6.2% – What’s Next?

Carter’s, Inc. (NYSE:CRI) was down 6.2% on Tuesday . The company traded as low as $41.85 and last traded at $41.23. Approximately 124,898 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,070,529 shares. The stock had previously closed at $43.96.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CRI. UBS Group reduced their target price on shares of Carter’s from $57.00 to $49.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Citigroup cut their price objective on shares of Carter’s from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, Wells Fargo & Company cut 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 report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, Carter’s presently has a consensus rating of “Hold” and a consensus price target of $49.00.

Carter’s Stock Down 0.5 %

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 firm’s 50 day simple moving average is $50.22 and its two-hundred day simple moving average is $56.68. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 6.58, a PEG ratio of 3.37 and a beta of 1.24.

Carter’s (NYSE:CRI) last issued its earnings results on Tuesday, February 25th. The textile maker reported $2.39 EPS for the quarter, beating the consensus estimate 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 business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.76 EPS. On average, equities analysts forecast that Carter’s, Inc. will post 5.15 EPS for the current year.

Carter’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date is Monday, March 10th. Carter’s’s payout ratio is 62.62%.

Institutional Investors Weigh In On Carter’s

Institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its holdings in Carter’s by 114.4% during the 4th quarter. Jones Financial Companies Lllp now owns 506 shares of the textile maker’s stock worth $27,000 after acquiring an additional 270 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Carter’s by 2,112.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 531 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 507 shares during the last quarter. Colonial Trust Co SC bought a new stake in shares of Carter’s in the 4th quarter valued at $29,000. Venturi Wealth Management LLC boosted its stake in shares of Carter’s by 221.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 726 shares of the textile maker’s stock valued at $47,000 after purchasing an additional 500 shares during the last quarter. Finally, True Wealth Design LLC boosted its stake in shares of Carter’s by 173.0% in the 4th quarter. True Wealth Design LLC now owns 901 shares of the textile maker’s stock valued at $49,000 after purchasing an additional 571 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.