Topeka Capital Markets Upgrades Children’s Place Retail Stores to Buy (PLCE)
Children’s Place Retail Stores (NASDAQ:PLCE) was upgraded by equities research analysts at Topeka Capital Markets from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $63.00 price target on the stock, up from their previous price target of $58.00. Topeka Capital Markets’ price objective would indicate a potential upside of 15.43% from the company’s current price.
The analysts wrote, “In the midst of a retail rout for teens, PLCE pulled off a much better quarter, even noting a solid start to BTS. Strategies for improved merchandise assortments are working and margins are moving up in outlets and Canada. Expenses are being brought down and PLCE seems set to run in a tough environment. Rating raised to Buy from Hold, and our PT is now $63 up from $58.”
PLCE has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “buy” rating on shares of Children’s Place Retail Stores in a research note to investors on Tuesday. They now have a $59.40 price target on the stock. Separately, analysts at Susquehanna raised their price target on shares of Children’s Place Retail Stores from $54.00 to $55.00 in a research note to investors on Tuesday. They now have a “neutral” rating on the stock. Finally, analysts at FBR Capital Markets initiated coverage on shares of Children’s Place Retail Stores in a research note to investors on Thursday, August 1st. They set a “market perform” rating on the stock.
One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. Children’s Place Retail Stores currently has an average rating of “Hold” and a consensus target price of $55.61.
Shares of Children’s Place Retail Stores (NASDAQ:PLCE) traded down 0.05% on Friday, hitting $54.55. 180,608 shares of the company’s stock traded hands. Children’s Place Retail Stores has a 52-week low of $42.21 and a 52-week high of $58.88. The stock’s 50-day moving average is $54.32 and its 200-day moving average is $51.37. The company has a market cap of $1.227 billion and a price-to-earnings ratio of 22.52.
Children’s Place Retail Stores (NASDAQ:PLCE) last issued its quarterly earnings data on Thursday, August 22nd. The company reported ($0.42) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.53) by $0.11. The company had revenue of $382.40 million for the quarter, compared to the consensus estimate of $381.06 million. During the same quarter last year, the company posted ($0.62) earnings per share. Children’s Place Retail Stores’s revenue was up 6.0% compared to the same quarter last year. Analysts expect that Children’s Place Retail Stores will post $3.16 EPS for the current fiscal year.
The Children’s Place Retail Stores, Inc operates as a specialty retailer of apparel and accessories for children.
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