Citi Trends (NASDAQ:CTRN) Hits New 52-Week High – Still a Buy?

Citi Trends, Inc. (NASDAQ:CTRN)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $67.89 and last traded at $67.6150, with a volume of 129321 shares changing hands. The stock had previously closed at $65.24.

Analysts Set New Price Targets

A number of research firms recently commented on CTRN. DA Davidson increased their price target on Citi Trends from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Weiss Ratings upgraded Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Finally, Wall Street Zen upgraded Citi Trends from a “hold” rating to a “buy” rating in a research report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Citi Trends Stock Performance

The stock has a market cap of $557.66 million, a price-to-earnings ratio of 48.61 and a beta of 1.83. The firm’s 50-day simple moving average is $54.00 and its two-hundred day simple moving average is $48.71.

Citi Trends (NASDAQ:CTRN) last announced its earnings results on Tuesday, June 2nd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.59. Citi Trends had a net margin of 1.42% and a return on equity of 2.09%. The company had revenue of $230.86 million for the quarter, compared to analyst estimates of $217.42 million. During the same period in the prior year, the business earned $0.11 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Broad Bay Capital Management LP bought a new position in Citi Trends in the 4th quarter valued at $6,650,000. AQR Capital Management LLC lifted its stake in shares of Citi Trends by 239.6% during the fourth quarter. AQR Capital Management LLC now owns 182,133 shares of the company’s stock valued at $7,569,000 after acquiring an additional 128,508 shares during the period. Marshall Wace LLP lifted its stake in shares of Citi Trends by 269.2% during the second quarter. Marshall Wace LLP now owns 160,084 shares of the company’s stock valued at $5,345,000 after acquiring an additional 116,722 shares during the period. UBS Group AG boosted its holdings in Citi Trends by 478.3% in the third quarter. UBS Group AG now owns 122,631 shares of the company’s stock valued at $3,805,000 after acquiring an additional 101,426 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in Citi Trends in the third quarter valued at about $2,778,000.

Citi Trends Company Profile

Citi Trends, Inc (NASDAQ: CTRN) is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.

The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.