Carter’s (NYSE:CRI) Hits New 1-Year Low – Here’s Why

Carter’s, Inc. (NYSE:CRI) shares hit a new 52-week low on Monday . The stock traded as low as $29.36 and last traded at $29.78, with a volume of 484091 shares traded. The stock had previously closed at $30.78.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group decreased their price objective on Carter’s from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Citigroup decreased their price target on Carter’s from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Barclays assumed coverage on shares of Carter’s in a research note on Monday, April 28th. They set an “underweight” rating and a $25.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on shares of Carter’s from $25.00 to $28.00 and gave the company an “underweight” rating in a research note on Wednesday, May 14th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $36.80.

Carter’s Price Performance

The company has a quick ratio of 1.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $1.10 billion, a PE ratio of 6.71 and a beta of 1.00. The stock has a 50-day moving average price of $33.57 and a 200 day moving average price of $43.19.

Carter’s (NYSE:CRI) last released its quarterly earnings results on Friday, April 25th. The textile maker reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.13. The firm had revenue of $291.09 million for the quarter, compared to analysts’ expectations of $624.86 million. Carter’s had a net margin of 5.80% and a return on equity of 23.50%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. Equities analysts forecast that Carter’s, Inc. will post 5.15 EPS for the current fiscal year.

Carter’s Increases Dividend

The business also recently announced a dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $0.25 per share. The ex-dividend date was Monday, June 2nd. This represents a dividend yield of 3.19%. This is a boost from Carter’s’s previous dividend of $0.22. Carter’s’s payout ratio is currently 22.12%.

Hedge Funds Weigh In On Carter’s

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp raised 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 acquiring an additional 270 shares during the last quarter. Allworth Financial LP grew its position in shares of Carter’s by 313.1% in the first quarter. Allworth Financial LP now owns 723 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 548 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Carter’s by 2,112.5% in the fourth 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 purchased a new position in Carter’s during the fourth quarter worth approximately $29,000. Finally, Parallel Advisors LLC boosted its stake in Carter’s by 80.9% during the first quarter. Parallel Advisors LLC now owns 1,062 shares of the textile maker’s stock worth $43,000 after buying an additional 475 shares during the last quarter.

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.