Childrens Place (NASDAQ:PLCE) Shares Gap Down Following Analyst Downgrade

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Childrens Place Inc (NASDAQ:PLCE)’s stock price gapped down prior to trading on Thursday after Monness Crespi & Hardt lowered their price target on the stock from $128.00 to $105.00. The stock had previously closed at $80.45, but opened at $76.10. Monness Crespi & Hardt currently has a buy rating on the stock. Childrens Place shares last traded at $80.21, with a volume of 41,674 shares trading hands.

Other analysts have also recently issued reports about the company. Deutsche Bank upgraded Childrens Place from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a report on Thursday, August 15th. Wedbush set a $130.00 target price on Childrens Place and gave the company a “buy” rating in a report on Friday, June 21st. Citigroup upped their target price on Childrens Place from $90.00 to $106.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. BidaskClub cut Childrens Place from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Finally, B. Riley set a $122.00 target price on Childrens Place and gave the company a “buy” rating in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Childrens Place presently has a consensus rating of “Buy” and a consensus price target of $116.00.

A number of hedge funds and other institutional investors have recently modified their holdings of PLCE. Oregon Public Employees Retirement Fund increased its holdings in shares of Childrens Place by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 6,272 shares of the company’s stock valued at $610,000 after acquiring an additional 113 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Childrens Place by 15.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,099 shares of the company’s stock worth $105,000 after buying an additional 150 shares during the last quarter. Mason Street Advisors LLC grew its stake in Childrens Place by 3.4% during the 1st quarter. Mason Street Advisors LLC now owns 5,201 shares of the company’s stock worth $506,000 after buying an additional 172 shares during the last quarter. Rhumbline Advisers grew its stake in Childrens Place by 0.4% during the 1st quarter. Rhumbline Advisers now owns 47,699 shares of the company’s stock worth $4,640,000 after buying an additional 178 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. grew its stake in Childrens Place by 5.2% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 4,048 shares of the company’s stock worth $394,000 after buying an additional 199 shares during the last quarter.

The business has a 50 day moving average of $91.46 and a 200-day moving average of $96.31. The stock has a market cap of $1.28 billion, a PE ratio of 11.78, a P/E/G ratio of 1.63 and a beta of 0.83. The company has a current ratio of 0.79, a quick ratio of 0.22 and a debt-to-equity ratio of 1.31.

Childrens Place (NASDAQ:PLCE) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Childrens Place had a return on equity of 27.26% and a net margin of 3.86%. The company had revenue of $420.50 million during the quarter, compared to analysts’ expectations of $428.28 million. During the same period last year, the firm earned $0.70 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. Research analysts expect that Childrens Place Inc will post 6.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Monday, September 23rd will be issued a $0.56 dividend. The ex-dividend date is Friday, September 20th. This represents a $2.24 annualized dividend and a dividend yield of 2.80%. Childrens Place’s dividend payout ratio is currently 33.19%.

About Childrens Place (NASDAQ:PLCE)

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.

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