Citi Trends (CTRN) Rating Lowered to Hold at ValuEngine

ValuEngine cut shares of Citi Trends (NASDAQ:CTRN) from a buy rating to a hold rating in a report released on Thursday morning.

Separately, BidaskClub lowered Citi Trends from a buy rating to a hold rating in a research report on Friday, June 15th.

Shares of NASDAQ CTRN opened at $25.45 on Thursday. Citi Trends has a one year low of $19.60 and a one year high of $34.90. The stock has a market cap of $373.30 million, a price-to-earnings ratio of 20.20 and a beta of 0.42.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Thursday, August 23rd. The company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.17. Citi Trends had a return on equity of 10.59% and a net margin of 2.61%. The firm had revenue of $182.00 million during the quarter, compared to analyst estimates of $178.50 million. During the same period last year, the company posted $0.03 EPS. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities analysts predict that Citi Trends will post 1.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 18th. Shareholders of record on Tuesday, September 4th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 31st. This represents a $0.32 dividend on an annualized basis and a yield of 1.26%. Citi Trends’s payout ratio is presently 25.40%.

In other Citi Trends news, Director Jonathan Duskin sold 10,800 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $32.53, for a total transaction of $351,324.00. Following the completion of the sale, the director now directly owns 5,009 shares in the company, valued at approximately $162,942.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ivy D. Council sold 3,723 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $33.02, for a total value of $122,933.46. Following the sale, the senior vice president now owns 77,261 shares of the company’s stock, valued at $2,551,158.22. The disclosure for this sale can be found here. Insiders have sold a total of 20,257 shares of company stock valued at $660,268 over the last 90 days. Corporate insiders own 8.41% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Paloma Partners Management Co acquired a new stake in shares of Citi Trends during the 2nd quarter valued at about $262,000. Element Capital Management LLC acquired a new stake in shares of Citi Trends during the 1st quarter valued at about $291,000. Engineers Gate Manager LP acquired a new stake in shares of Citi Trends during the 2nd quarter valued at about $358,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Citi Trends during the 2nd quarter valued at about $403,000. Finally, American Century Companies Inc. acquired a new stake in shares of Citi Trends during the 2nd quarter valued at about $421,000. Institutional investors and hedge funds own 94.46% of the company’s stock.

Citi Trends Company Profile

Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, including fashion sportswear for men and women, as well as children, such as newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional and decorative home products, as well as beauty products, books, and toys.

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