BidaskClub Downgrades Childrens Place (PLCE) to Buy

BidaskClub cut shares of Childrens Place (NASDAQ:PLCE) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday, BidAskClub reports.

Several other equities research analysts have also recently issued reports on PLCE. Telsey Advisory Group reissued an outperform rating and issued a $126.00 target price (up from $100.00) on shares of Childrens Place in a research report on Monday. Bank of America reissued a neutral rating and issued a $105.00 target price (up from $95.00) on shares of Childrens Place in a research report on Friday, April 5th. ValuEngine raised shares of Childrens Place from a hold rating to a buy rating in a research report on Wednesday, May 1st. Deutsche Bank began coverage on shares of Childrens Place in a research report on Tuesday, April 16th. They issued a hold rating and a $103.00 target price on the stock. Finally, DA Davidson began coverage on shares of Childrens Place in a research report on Tuesday, April 23rd. They issued a buy rating and a $135.00 target price on the stock. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Childrens Place currently has a consensus rating of Buy and a consensus target price of $124.67.

NASDAQ:PLCE traded up $2.84 on Tuesday, reaching $107.84. The stock had a trading volume of 15,988 shares, compared to its average volume of 700,295. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 2.31 and a beta of 0.69. The company has a current ratio of 0.79, a quick ratio of 0.40 and a debt-to-equity ratio of 1.31. Childrens Place has a 12-month low of $82.05 and a 12-month high of $160.23.

Childrens Place (NASDAQ:PLCE) last released its earnings results on Wednesday, May 15th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.53) by $0.89. The company had revenue of $412.40 million for the quarter, compared to analyst estimates of $399.40 million. Childrens Place had a net margin of 3.86% and a return on equity of 27.26%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.87 EPS. On average, equities research analysts forecast that Childrens Place will post 5.66 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 18th will be issued a $0.56 dividend. The ex-dividend date is Monday, June 17th. This represents a $2.24 annualized dividend and a yield of 2.08%. Childrens Place’s payout ratio is 33.19%.

In related news, VP Robert F. Helm sold 227 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $110.79, for a total value of $25,149.33. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in shares of Childrens Place by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 295,855 shares of the company’s stock valued at $37,810,000 after purchasing an additional 3,453 shares during the period. Teachers Advisors LLC raised its stake in shares of Childrens Place by 47.2% during the third quarter. Teachers Advisors LLC now owns 143,476 shares of the company’s stock valued at $18,336,000 after purchasing an additional 46,037 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Childrens Place by 33.7% during the third quarter. TIAA CREF Investment Management LLC now owns 51,943 shares of the company’s stock valued at $6,638,000 after purchasing an additional 13,095 shares during the period. Eqis Capital Management Inc. raised its stake in shares of Childrens Place by 2.4% during the fourth quarter. Eqis Capital Management Inc. now owns 5,357 shares of the company’s stock valued at $483,000 after purchasing an additional 124 shares during the period. Finally, Quantamental Technologies LLC purchased a new stake in shares of Childrens Place during the fourth quarter valued at approximately $92,000.

About Childrens Place

The Children's Place, Inc operates as a children's specialty apparel retailer. The company operates through two segments, The Children's Place U.S. and The Children's Place International. It sells apparel, footwear, accessories, and other items for children; and designs, contracts to manufacture, and sells merchandise under the proprietary The Children's Place, Place, and Baby Place brand names.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

Analyst Recommendations for Childrens Place (NASDAQ:PLCE)

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