Childrens Place (PLCE) Shares Gap Down to $112.11

Childrens Place Inc (NASDAQ:PLCE)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $120.85, but opened at $112.11. Childrens Place shares last traded at $105.34, with a volume of 489400 shares.

A number of brokerages have recently issued reports on PLCE. BidaskClub lowered shares of Childrens Place from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Telsey Advisory Group restated an “outperform” rating and set a $126.00 target price (up from $100.00) on shares of Childrens Place in a research report on Monday. Citigroup raised their target price on shares of Childrens Place from $90.00 to $106.00 and gave the stock a “neutral” rating in a research report on Thursday. B. Riley set a $122.00 price target on Childrens Place and gave the stock a “buy” rating in a report on Tuesday. Finally, Bank of America reaffirmed a “neutral” rating and set a $105.00 price target (up from $95.00) on shares of Childrens Place in a report on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Childrens Place presently has an average rating of “Buy” and a consensus price target of $124.67.

The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 2.41 and a beta of 0.69.

Childrens Place (NASDAQ:PLCE) last issued its quarterly earnings results on Wednesday, May 15th. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.53) by $0.89. Childrens Place had a return on equity of 34.25% and a net margin of 5.21%. The firm had revenue of $412.40 million during the quarter, compared to the consensus estimate of $399.40 million. During the same period last year, the company earned $1.87 earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, equities analysts anticipate that Childrens Place Inc will post 5.64 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 15th were issued a dividend of $0.56 per share. The ex-dividend date was Friday, April 12th. This is an increase from Childrens Place’s previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a dividend yield of 2.14%. Childrens Place’s dividend payout ratio (DPR) is currently 33.19%.

In related news, VP Robert F. Helm sold 227 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $110.79, for a total transaction of $25,149.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in PLCE. Ceredex Value Advisors LLC acquired a new stake in Childrens Place in the first quarter valued at $71,212,000. Greenvale Capital LLP acquired a new stake in Childrens Place in the first quarter valued at $36,480,000. Neuberger Berman Group LLC acquired a new stake in Childrens Place in the first quarter valued at $31,900,000. Daruma Capital Management LLC acquired a new stake in Childrens Place in the first quarter valued at $28,679,000. Finally, FMR LLC lifted its holdings in Childrens Place by 27.9% in the fourth quarter. FMR LLC now owns 1,278,870 shares of the company’s stock valued at $115,212,000 after acquiring an additional 278,872 shares during the period.

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Childrens Place Company Profile (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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