The Children’s Place (PLCE) Cut to “Underperform” at Bank of America

The Children’s Place (NASDAQ:PLCE) was downgraded by research analysts at Bank of America from a “buy” rating to an “underperform” rating in a note issued to investors on Friday, MarketBeat reports. They currently have a $115.00 price objective on the stock, down from their prior price objective of $175.00. Bank of America’s price objective suggests a potential downside of 10.05% from the company’s current price.

Other analysts have also issued research reports about the company. Chardan Capital reaffirmed a “buy” rating and issued a $156.00 target price (up previously from $130.00) on shares of The Children’s Place in a research note on Wednesday, January 10th. B. Riley set a $167.00 target price on The Children’s Place and gave the stock a “buy” rating in a research note on Tuesday, March 20th. Telsey Advisory Group cut their target price on The Children’s Place from $190.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday. ValuEngine lowered The Children’s Place from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Finally, Citigroup raised The Children’s Place from a “neutral” rating to a “buy” rating and upped their target price for the stock from $127.95 to $148.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. The Children’s Place has an average rating of “Buy” and a consensus price target of $144.91.

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Shares of The Children’s Place (NASDAQ PLCE) opened at $127.85 on Friday. The stock has a market capitalization of $2,273.63, a P/E ratio of 27.61, a price-to-earnings-growth ratio of 1.78 and a beta of 0.30. The Children’s Place has a 52 week low of $94.95 and a 52 week high of $161.65.

The Children’s Place (NASDAQ:PLCE) last issued its earnings results on Tuesday, March 20th. The company reported $2.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.49 by $0.03. The business had revenue of $570.00 million during the quarter, compared to analyst estimates of $574.09 million. The Children’s Place had a return on equity of 29.03% and a net margin of 4.53%. The Children’s Place’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 earnings per share. analysts predict that The Children’s Place will post 8.23 earnings per share for the current fiscal year.

The Children’s Place announced that its Board of Directors has authorized a stock buyback plan on Tuesday, March 20th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

A number of hedge funds have recently made changes to their positions in PLCE. APG Asset Management N.V. lifted its position in The Children’s Place by 267.9% in the fourth quarter. APG Asset Management N.V. now owns 336,300 shares of the company’s stock valued at $40,707,000 after purchasing an additional 244,900 shares during the last quarter. Hood River Capital Management LLC bought a new stake in The Children’s Place in the fourth quarter valued at approximately $15,473,000. Renaissance Technologies LLC lifted its position in The Children’s Place by 5,295.9% in the fourth quarter. Renaissance Technologies LLC now owns 105,760 shares of the company’s stock valued at $15,372,000 after purchasing an additional 103,800 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in The Children’s Place in the fourth quarter valued at approximately $14,841,000. Finally, Stifel Financial Corp lifted its position in The Children’s Place by 191.6% in the third quarter. Stifel Financial Corp now owns 107,697 shares of the company’s stock valued at $12,730,000 after purchasing an additional 70,768 shares during the last quarter.

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About The Children’s 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, 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.

Analyst Recommendations for The Children`s Place (NASDAQ:PLCE)

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