Brokerages Set Childrens Place Inc (PLCE) Price Target at $152.30

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Shares of Childrens Place Inc (NASDAQ:PLCE) have been given an average rating of “Buy” by the fifteen research firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $152.30.

A number of equities analysts recently issued reports on PLCE shares. Citigroup boosted their price objective on Childrens Place from $145.00 to $154.00 and gave the company a “buy” rating in a report on Friday, August 24th. ValuEngine upgraded Childrens Place from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. BidaskClub upgraded Childrens Place from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. Bank of America upgraded Childrens Place from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 2nd. They noted that the move was a valuation call. Finally, Wedbush started coverage on Childrens Place in a report on Thursday, July 12th. They set an “outperform” rating and a $150.00 price objective for the company.

In related news, insider Jane T. Elfers sold 100,000 shares of the business’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $134.93, for a total transaction of $13,493,000.00. Following the completion of the transaction, the insider now owns 141,491 shares in the company, valued at approximately $19,091,380.63. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.80% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of PLCE. Millennium Management LLC lifted its holdings in shares of Childrens Place by 742.8% in the 1st quarter. Millennium Management LLC now owns 65,128 shares of the company’s stock worth $8,809,000 after buying an additional 57,400 shares during the period. Legal & General Group Plc lifted its holdings in shares of Childrens Place by 1.8% in the 1st quarter. Legal & General Group Plc now owns 36,084 shares of the company’s stock worth $4,861,000 after buying an additional 629 shares during the period. Royal Bank of Canada lifted its holdings in shares of Childrens Place by 931.9% in the 1st quarter. Royal Bank of Canada now owns 8,245 shares of the company’s stock worth $1,115,000 after buying an additional 7,446 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Childrens Place by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 153,892 shares of the company’s stock worth $20,814,000 after buying an additional 4,591 shares during the period. Finally, Boston Advisors LLC purchased a new stake in shares of Childrens Place in the 2nd quarter worth $4,703,000.

NASDAQ PLCE opened at $156.31 on Friday. The company has a market cap of $2.41 billion, a PE ratio of 19.76, a P/E/G ratio of 2.23 and a beta of 0.43. Childrens Place has a fifty-two week low of $106.25 and a fifty-two week high of $161.65.

Childrens Place (NASDAQ:PLCE) last released its earnings results on Thursday, August 23rd. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.11. The firm had revenue of $448.70 million for the quarter, compared to the consensus estimate of $427.89 million. Childrens Place had a return on equity of 33.17% and a net margin of 3.76%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. On average, analysts forecast that Childrens Place will post 8.23 earnings per share for the current year.

About Childrens Place

The Children’s Place, Inc engages in the provision of apparel, accessories and footwear for children. It also designs, contracts to manufacture and sell fashionable and value-priced merchandise under the brand names of The Children’s Place, Place and Baby Place. The company was founded in 1969 and is headquartered in Secaucus, NJ.

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Analyst Recommendations for Childrens Place (NASDAQ:PLCE)

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