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

Childrens Place Inc (NASDAQ:PLCE)’s share 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.

Several other equities research analysts have also issued reports on the stock. Wedbush set a $130.00 target price on shares of Childrens Place and gave the stock a “buy” rating in a report on Friday, June 21st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $126.00 price objective (up from $100.00) on shares of Childrens Place in a report on Monday, May 13th. Deutsche Bank raised shares of Childrens Place from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Thursday, August 15th. TheStreet lowered shares of Childrens Place from a “b-” rating to a “c+” rating in a report on Friday, May 31st. Finally, Citigroup increased their target price on Childrens Place from $90.00 to $106.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $116.00.

Institutional investors and hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors bought a new stake in Childrens Place in the second quarter worth $32,000. Ladenburg Thalmann Financial Services Inc. lifted its position in Childrens Place by 229.5% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 570 shares of the company’s stock worth $55,000 after buying an additional 397 shares during the last quarter. Anderson Fisher LLC bought a new stake in shares of Childrens Place during the second quarter worth $80,000. US Bancorp DE lifted its position in shares of Childrens Place by 128.7% during the second quarter. US Bancorp DE now owns 901 shares of the company’s stock worth $86,000 after purchasing an additional 507 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Childrens Place by 15.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,099 shares of the company’s stock worth $105,000 after purchasing an additional 150 shares during the last quarter.

The firm has a market capitalization of $1.28 billion, a P/E ratio of 11.78, a P/E/G ratio of 1.63 and a beta of 0.83. The firm has a 50-day moving average price of $91.46 and a two-hundred day moving average price of $96.31. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.79 and a quick ratio of 0.22.

Childrens Place (NASDAQ:PLCE) last released its earnings results on Wednesday, August 21st. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $420.50 million during the quarter, compared to the consensus estimate of $428.28 million. Childrens Place had a return on equity of 27.26% and a net margin of 3.86%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.70 earnings per share. Sell-side analysts predict that Childrens Place Inc will post 6.16 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Monday, September 23rd will be paid a dividend of $0.56 per share. 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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