Citi Trends (NASDAQ:CTRN) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Zacks has also given Citi Trends an industry rank of 76 out of 265 based on the ratings given to related companies.
A number of brokerages have weighed in on CTRN. BidaskClub raised shares of Citi Trends from a “hold” rating to a “buy” rating in a report on Saturday, March 24th. ValuEngine raised shares of Citi Trends from a “hold” rating to a “buy” rating in a report on Wednesday, May 16th. Finally, MKM Partners upgraded shares of Citi Trends from a “neutral” rating to a “buy” rating and upped their price target for the stock from $25.00 to $32.00 in a research report on Tuesday, March 20th.
In other news, SVP Christina Short sold 2,752 shares of the firm’s stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $30.91, for a total transaction of $85,064.32. Following the completion of the transaction, the senior vice president now owns 50,078 shares in the company, valued at approximately $1,547,910.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Ivy D. Council sold 4,156 shares of the firm’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $30.71, for a total transaction of $127,630.76. Following the transaction, the vice president now owns 80,984 shares of the company’s stock, valued at approximately $2,487,018.64. The disclosure for this sale can be found here. Corporate insiders own 8.41% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Millennium Management LLC boosted its position in shares of Citi Trends by 9.1% during the 1st quarter. Millennium Management LLC now owns 169,424 shares of the company’s stock valued at $5,237,000 after purchasing an additional 14,152 shares in the last quarter. Element Capital Management LLC bought a new position in shares of Citi Trends during the 1st quarter valued at about $291,000. Barclays PLC boosted its position in shares of Citi Trends by 639.4% during the 1st quarter. Barclays PLC now owns 17,081 shares of the company’s stock valued at $527,000 after purchasing an additional 14,771 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Citi Trends during the 1st quarter valued at about $838,000. Finally, Cambria Investment Management L.P. bought a new position in shares of Citi Trends during the 1st quarter valued at about $296,000. Institutional investors own 91.38% of the company’s stock.
CTRN opened at $30.51 on Wednesday. The firm has a market capitalization of $418.76 million, a P/E ratio of 24.21 and a beta of 0.20. Citi Trends has a 12-month low of $17.43 and a 12-month high of $32.49.
Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Friday, March 16th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.06. The firm had revenue of $212.14 million for the quarter, compared to analysts’ expectations of $211.00 million. Citi Trends had a net margin of 1.93% and a return on equity of 8.43%. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. equities analysts predict that Citi Trends will post 1.63 EPS for the current fiscal year.
Citi Trends declared that its Board of Directors has initiated a share buyback plan on Friday, March 16th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Citi Trends Company Profile
Citi Trends, Inc operates as an off-price retailer of urban fashion apparel and accessories. The company offers apparel comprising fashion sportswear for men, women, and children, as well as offerings for newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and decorative home products, functional home products, beauty products, books, toys, and electronic accessories.
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