BidaskClub downgraded shares of Citi Trends, Inc. (NASDAQ:CTRN) from a hold rating to a sell rating in a research note issued to investors on Saturday, August 5th.
Other research analysts also recently issued reports about the company. ValuEngine upgraded Citi Trends from a hold rating to a buy rating in a research note on Friday, May 19th. TheStreet upgraded Citi Trends from a c+ rating to a b- rating in a research note on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $19.00.
Shares of Citi Trends (NASDAQ CTRN) traded down 11.67% during midday trading on Friday, reaching $17.49. The company’s stock had a trading volume of 396,035 shares. The company has a 50-day moving average price of $21.02 and a 200-day moving average price of $18.90. Citi Trends has a 12 month low of $15.54 and a 12 month high of $22.73. The firm has a market cap of $257.44 million, a price-to-earnings ratio of 19.14 and a beta of 0.33.
Citi Trends (NASDAQ:CTRN) last issued its earnings results on Wednesday, August 16th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.05. Citi Trends had a return on equity of 6.56% and a net margin of 1.92%. The business had revenue of $166.20 million for the quarter, compared to the consensus estimate of $164.70 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. Equities analysts expect that Citi Trends will post $1.30 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 29th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 25th. This represents a $0.32 annualized dividend and a yield of 1.83%. Citi Trends’s dividend payout ratio is presently 35.16%.
A number of institutional investors have recently made changes to their positions in CTRN. Acrospire Investment Management LLC bought a new position in shares of Citi Trends during the first quarter valued at $109,000. Acadian Asset Management LLC boosted its position in shares of Citi Trends by 547.6% in the second quarter. Acadian Asset Management LLC now owns 6,172 shares of the company’s stock valued at $131,000 after buying an additional 5,219 shares in the last quarter. American International Group Inc. boosted its position in shares of Citi Trends by 7.0% in the first quarter. American International Group Inc. now owns 8,858 shares of the company’s stock valued at $151,000 after buying an additional 582 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of Citi Trends during the fourth quarter valued at $219,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Citi Trends during the second quarter valued at $242,000. 90.98% of the stock is owned by hedge funds and other institutional investors.
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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