Why Children's Place Stock Is Trading Higher Today

Children's Place Inc PLCE is trading significantly higher Thursday after the company reported better-than-expected earnings results.

What Happened: Children's Place reported first-quarter earnings of $3.25 per share, which is up from a loss of $3.33 per share year-over-year. The company reported revenue of $435.5 million, which beat the estimate of $354.78 million. 

“We delivered outstanding first quarter results with gross margin, operating margin, and EPS all at record levels. Our Q1 2021 net sales of $435 million exceeded our pre-COVID Q1 2019 net sales of $412 million, despite having 261 or 27% fewer stores ending Q1 2021 versus Q1 2019,” said Jane Elfers, president and CEO of Children's Place.

Recent Analyst Ratings: On Monday, the stock received a pair of upgrades ahead of earnings. 

Wedbush upgraded Children's Place from Neutral to Outperform and raised the price target from $48 to $150.

Monness, Crespi, Hardt upgraded Children's Place from Neutral to Buy and announced a $93 price target.

Price Action: Children's Place is making new 52-week highs today. At last check Thursday, the stock was up 13% at $100.

Photo by ajay_suresh from Flickr.