The Children's Place (PLCE) Shares Fall on Sterne Agee Downgrade

The Children's Place (Nasdaq: PLCE) shares are currently trading at $53.43 down, $2.22 (-3.99%) this morning. The 52-wk range on the stock is $36.96 - $57.55 and firms were relatively positive on the company around Black Friday.

On Nov. 22, 2011, Buckingham Research upgraded The Children's Place from Neutral to Buy with a new price target of $66.00.

Barclays felt The Children's Place was best positioned within kids, and over Black Friday, noted: "Good traffic and long lines as customers took advantage of the 30% off entire store."

However, the stock is down today on overall market declines, and also from a downgrade by Sterne Agee from Buy to Neutral.

PLCE's current market cap is $1.32 bln and annual revenue was $1.71 bln. As of last quarter, total cash on the balance sheet is $152.6 million.

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