Citigroup upgraded shares of The Children’s Place (NASDAQ:PLCE) from a neutral rating to a buy rating in a research report report published on Wednesday morning, Marketbeat.com reports. The firm currently has $148.00 price objective on the stock, up from their prior price objective of $127.95.
A number of other brokerages have also recently commented on PLCE. ValuEngine cut shares of The Children’s Place from a buy rating to a hold rating in a research report on Wednesday, November 22nd. SunTrust Banks started coverage on shares of The Children’s Place in a research report on Thursday, December 21st. They issued a hold rating and a $150.00 target price for the company. BidaskClub cut shares of The Children’s Place from a buy rating to a hold rating in a research report on Saturday, March 10th. Chardan Capital reiterated a buy rating and issued a $156.00 target price (up from $130.00) on shares of The Children’s Place in a research report on Wednesday, January 10th. Finally, B. Riley set a $167.00 target price on shares of The Children’s Place and gave the company a buy rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $144.91.
Shares of PLCE stock opened at $127.85 on Wednesday. The company has a market cap of $2,273.63, a PE ratio of 16.69, a PEG ratio of 1.78 and a beta of 0.30. The Children’s Place has a 12-month low of $94.95 and a 12-month high of $161.65.
The Children’s Place announced that its Board of Directors has initiated a share buyback plan on Tuesday, March 20th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Monday, April 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, April 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.56%. This is a positive change from The Children’s Place’s previous quarterly dividend of $0.40. The Children’s Place’s dividend payout ratio is currently 34.56%.
Several institutional investors and hedge funds have recently made changes to their positions in PLCE. Harvest Fund Management Co. Ltd purchased a new stake in shares of The Children’s Place in the fourth quarter valued at about $143,000. Cubist Systematic Strategies LLC purchased a new stake in shares of The Children’s Place in the third quarter valued at about $171,000. Everence Capital Management Inc. purchased a new stake in shares of The Children’s Place in the fourth quarter valued at about $202,000. Shelton Capital Management purchased a new stake in shares of The Children’s Place in the third quarter valued at about $206,000. Finally, ARP Americas LP purchased a new stake in shares of The Children’s Place in the fourth quarter valued at about $206,000.
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The Children’s Place Company Profile
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, accessories, footwear, 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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