BidaskClub cut shares of Citi Trends, Inc. (NASDAQ:CTRN) from a hold rating to a sell rating in a research note issued to investors on Saturday.
A number of other equities analysts have also recently weighed in on CTRN. TheStreet upgraded shares of Citi Trends from a c+ rating to a b- rating in a research report on Tuesday, May 9th. ValuEngine upgraded shares of Citi Trends from a hold rating to a buy rating in a research report on Friday, May 19th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company has a consensus rating of Hold and a consensus target price of $19.00.
Citi Trends (NASDAQ CTRN) traded up 0.39% during trading on Friday, reaching $20.82. 166,401 shares of the company traded hands. Citi Trends has a 52 week low of $15.54 and a 52 week high of $22.73. The firm has a 50-day moving average price of $21.09 and a 200-day moving average price of $18.64. The company has a market capitalization of $306.45 million, a P/E ratio of 22.78 and a beta of 0.33.
Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings data on Wednesday, May 17th. The company reported $0.68 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.68. The company had revenue of $200 million during the quarter, compared to analysts’ expectations of $197.10 million. Citi Trends had a net margin of 1.92% and a return on equity of 6.56%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. Analysts forecast that Citi Trends will post $1.30 earnings per share for the current fiscal year.
Citi Trends declared that its board has authorized a share buyback program on Monday, April 10th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
Institutional investors have recently bought and sold shares of the company. State Street Corp boosted its position in Citi Trends by 2.8% in the fourth quarter. State Street Corp now owns 271,297 shares of the company’s stock worth $5,105,000 after buying an additional 7,484 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Citi Trends by 6.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,245,996 shares of the company’s stock worth $23,474,000 after buying an additional 76,845 shares in the last quarter. Teachers Advisors LLC boosted its position in Citi Trends by 85.9% in the fourth quarter. Teachers Advisors LLC now owns 58,093 shares of the company’s stock worth $1,094,000 after buying an additional 26,841 shares in the last quarter. Highbridge Capital Management LLC bought a new position in Citi Trends during the fourth quarter worth $219,000. Finally, Nationwide Fund Advisors boosted its position in Citi Trends by 60.6% in the first quarter. Nationwide Fund Advisors now owns 54,905 shares of the company’s stock worth $933,000 after buying an additional 20,708 shares in the last quarter. Institutional investors own 90.92% of the company’s stock.
About Citi Trends
Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Company operates approximately 520 stores in both urban and rural markets in over 30 states. The Company offers products under its brands, such as Citi Steps and Red Ape. The Company’s merchandise includes apparel, accessories and home.
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