Children’s Place (NASDAQ:PLCE) Trading 4.4% Higher After Strong Earnings

The Children’s Place, Inc. (NASDAQ:PLCE – Get Rating)’s share price traded up 4.4% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $44.25 and last traded at $43.00. 143,877 shares traded hands during trading, a decline of 68% from the average session volume of 444,239 shares. The stock had previously closed at $41.18.

The company reported ($3.87) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.18) by $0.31. The firm had revenue of $456.10 million for the quarter, compared to the consensus estimate of $455.34 million. Children’s Place had a return on equity of 43.35% and a net margin of 5.02%. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.02 earnings per share.

Wall Street Analysts Forecast Growth

PLCE has been the subject of several analyst reports. StockNews.com initiated coverage on Children’s Place in a research note on Thursday. They issued a “hold” rating for the company. Monness Crespi & Hardt dropped their price target on Children’s Place to $50.00 in a research note on Monday, November 21st. TheStreet lowered Children’s Place from a “c” rating to a “d+” rating in a research note on Thursday. Finally, Telsey Advisory Group reduced their price target on Children’s Place from $46.00 to $44.00 and set a “market perform” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Children’s Place presently has a consensus rating of “Hold” and an average price target of $48.40.

Hedge Funds Weigh In On Children’s Place

Several hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. boosted its position in shares of Children’s Place by 363.1% in the third quarter. Point72 Asset Management L.P. now owns 209,323 shares of the company’s stock worth $6,466,000 after buying an additional 164,123 shares during the period. Engineers Gate Manager LP raised its holdings in Children’s Place by 227.4% during the third quarter. Engineers Gate Manager LP now owns 28,281 shares of the company’s stock valued at $874,000 after buying an additional 19,643 shares in the last quarter. Long Focus Capital Management LLC increased its stake in shares of Children’s Place by 108.8% in the third quarter. Long Focus Capital Management LLC now owns 23,030 shares of the company’s stock worth $711,000 after purchasing an additional 12,000 shares during the period. Meros Investment Management LP increased its stake in shares of Children’s Place by 3.1% in the second quarter. Meros Investment Management LP now owns 86,399 shares of the company’s stock worth $3,363,000 after purchasing an additional 2,638 shares during the period. Finally, SummerHaven Investment Management LLC bought a new position in shares of Children’s Place in the third quarter worth about $577,000. 98.73% of the stock is currently owned by institutional investors and hedge funds.

Children’s Place Trading Down 1.4 %

The firm has a market capitalization of $465.35 million, a price-to-earnings ratio of 5.98 and a beta of 2.00. The business has a 50-day moving average of $42.08 and a two-hundred day moving average of $39.08. The company has a quick ratio of 0.17, a current ratio of 0.97 and a debt-to-equity ratio of 0.23.

Children’s Place Company Profile

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The Children’s Place, Inc provides apparel, footwear, accessories, and other items for children. It also designs, contracts to manufacture and sell fashionable and value-priced merchandise under the brand names of The Children’s Place, Baby Place, and Gymboree. The firm operates through the following segments: Children’s Place U.S.