BlackRock Fund Advisors recently announced the acquisition of new stake in The Children’s Place Inc. (NASDAQ:PLCE). The institutional investor has increased its shareholding in the Consumer Cyclical company by 2.56% to 2.1 million shares with purchase of 52428.0 shares. This fresh investment now brings its stake to 14.41% valued currently at $51.31 million. In addition, Invesco Asset Management Ltd. raised its holdings by 0.65 million to 0.87 million shares. And Point72 Asset Management LP has lifted its position by 967.64% or 0.45 million shares – to 0.49 million shares.
With over 1.67 million The Children’s Place Inc. (PLCE) shares trading Friday and a closing price of $21.23 on the day, the dollar volume was approximately $35.45 million. The shares have shown a negative weekly performance of -2.48% and its price on 08/28/20 gained nearly 2.17%. Currently, there are 14.61M common shares owned by the public and among those 13.78M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for PLCE have a consensus price objective of $24.67. The analysts have set the share’s price value over the next 12 months at a high of $55.00 and a low of $14.00 should the stock experience a downside. Incidentally, analysts’ outlook for the The Children’s Place Inc. stock is 2.70 for the next 12 months. The average price target is 12.27% above its last price level and an upside to the estimated low will see the stock lose -51.64% over that period. But an upside of 61.4% will see the stock hit the forecast high price target while mean target price for the stock is $20.00.
Insiders at the company have transacted a total of 63 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 37 of these insider trades were purchases, accounting for 374,570 shares. Insider sales of the common stock occurred on 26 occasions, with total insider shares sold totaling 19,624 shares.
The top 3 mutual fund holders in The Children’s Place Inc. are iShares Core S&P Small Cap ETF, Royce Special Equity Fund, and TIAA-CREF Growth & Income Fund. iShares Core S&P Small Cap ETF owns 0.91 million shares of the company’s stock, all valued at over $22.1 million. The company bought an additional 3234.0 shares recently to bring their total holdings to about 6.21% of the shares outstanding. Royce Special Equity Fund bought 63000.0 shares to see its total holdings expand to 0.55 million shares valued at over $13.43 million and representing 3.77% of the shares outstanding. TIAA-CREF Growth & Income Fund sold -0.14 million shares to bring its total holdings to over 0.48 million shares at a value of $11.69 million. TIAA-CREF Growth & Income Fund now owns shares totaling to 3.28% of the shares outstanding.
Shares of The Children’s Place Inc. (NASDAQ: PLCE) opened at $21.26, up $0.48 from a prior closing price of $20.78. However, the script later closed the day at $21.23, up 2.17%. The company’s stock has a 5-day price change of -2.48% and -49.32% over the past three months. PLCE shares are trading -66.04% year to date (YTD), with the 12-month market performance down to -75.43% lower. It has a 12-month low price of $9.25 and touched a high of $95.53 over the same period. Currently, 1.67 million shares have been traded, compared to an average intraday trading volume of 1.19 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -14.33%, -29.59%, and -52.32% respectively.
Institutional ownership of The Children’s Place Inc. (NASDAQ: PLCE) shares accounts for 95.00% of the company’s 14.61M shares outstanding. Mutual fund holders own 63.92%, while other institutional holders and individual stakeholders account for 65.95% and 29.50% respectively.
It has a market capitalization of $303.16M and a beta (3y monthly) value of 1.87. The earnings-per-share (ttm) stands at -$6.67. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.30% over the week and 8.27% over the month.
Analysts forecast that The Children’s Place Inc. (PLCE) will achieve an EPS of $0.64 for the current quarter, -$0.13 for the next quarter and $2.51 for 2022. The lowest estimate earnings-per-share for the quarter is -$0.46 while analysts give the company a high EPS estimate of $1.76. Comparatively, EPS for the current quarter was $3.03 a year ago. Earnings per share for the fiscal year are expected to decrease by -21.90%, and 207.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate The Children’s Place Inc. (PLCE) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 6 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PLCE, a number of firms have released research notes about the stock. Telsey Advisory Group stated their Outperform rating for the stock in a research note on August 26, 2020, with the firm’s price target at $55-$35. Monness Crespi & Hardt coverage for the The Children’s Place Inc. (PLCE) stock in a research note released on August 26, 2020 offered a Buy rating with a price target of $35. UBS was of a view on August 12, 2020 that the stock is Neutral, while Monness Crespi & Hardt gave the stock Buy rating on May 19, 2020, issuing a price target of $38- $45. Monness Crespi & Hardt on their part issued Buy rating on April 03, 2020.