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Oppenheimer analyst Anna Andreeva maintained a Buy rating on Children’s Place (NASDAQ: PLCE) today and set a price target of $150. The company’s shares opened today at $132.50.
Andreeva wrote:
“While first negative comp since 3Q15 is disappointing as kids’ category weather dependency was more pronounced this Spring (weather negative 12 out of 13 weeks), every comp metric is nicely positive in 2Q18 (conversion biggest driver, traffic+HSD, Canada & outlet comping up), inventories are clean (carryover levels down y/y) and company is taking price up on select categories (denim & graphics) to take advantage of pent-up demand. Annual comp guide is raised by 100 bps on stronger 2Q18 (2H18 expectations not changed vs. March); model gross margins up rest of the year as AUR/AUC still expected favorable. With stock down 8% intraday (SPX flattish), would be taking advantage of~2x valuation contraction in the last week alone (15x ’18 P/E) when story hasn’t changed.”
According to TipRanks.com, Andreeva is a 4-star analyst with an average return of 5.4% and a 49.8% success rate. Andreeva covers the Services sector, focusing on stocks such as Lululemon Athletica Inc, Urban Outfitters, and Foot Locker Inc.
Children’s Place has an analyst consensus of Moderate Buy, with a price target consensus of $142.40.
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Children’s Place’s market cap is currently $2.38B and has a P/E ratio of 29.81. The company has a Price to Book ratio of 5.01.
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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.
