Citi Trends (CTRN) Upgraded at ValuEngine

ValuEngine upgraded shares of Citi Trends (NASDAQ:CTRN) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Other equities research analysts have also issued reports about the stock. BidaskClub lowered shares of Citi Trends from a strong-buy rating to a buy rating in a research report on Wednesday, May 9th. MKM Partners upgraded shares of Citi Trends from a neutral rating to a buy rating and boosted their price objective for the stock from $25.00 to $32.00 in a research report on Tuesday, March 20th.

Shares of Citi Trends opened at $30.45 on Wednesday, according to Marketbeat.com. The firm has a market cap of $419.99 million, a price-to-earnings ratio of 24.24 and a beta of 0.20. Citi Trends has a one year low of $17.38 and a one year high of $32.49.



Citi Trends (NASDAQ:CTRN) last issued its earnings results on Friday, March 16th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.44 by $0.06. The company had revenue of $212.14 million for the quarter, compared to analyst estimates of $211.00 million. Citi Trends had a net margin of 1.93% and a return on equity of 8.43%. The business’s revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. sell-side analysts predict that Citi Trends will post 1.63 earnings per share for the current fiscal year.

Citi Trends announced that its board has approved a stock repurchase program on Friday, March 16th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

In related news, VP Ivy D. Council sold 4,156 shares of the business’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $30.71, for a total value of $127,630.76. Following the sale, the vice president now directly owns 80,984 shares in the company, valued at approximately $2,487,018.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Christina Short sold 2,752 shares of the business’s stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $30.91, for a total transaction of $85,064.32. Following the completion of the sale, the senior vice president now owns 50,078 shares in the company, valued at $1,547,910.98. The disclosure for this sale can be found here. 8.41% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Paloma Partners Management Co purchased a new stake in shares of Citi Trends in the 4th quarter worth about $216,000. MetLife Investment Advisors LLC acquired a new position in Citi Trends in the 4th quarter valued at about $226,000. Macquarie Group Ltd. raised its stake in Citi Trends by 883.9% in the 4th quarter. Macquarie Group Ltd. now owns 9,839 shares of the company’s stock valued at $260,000 after purchasing an additional 8,839 shares during the last quarter. Element Capital Management LLC acquired a new position in Citi Trends in the 1st quarter valued at about $291,000. Finally, Cambria Investment Management L.P. acquired a new position in Citi Trends in the 1st quarter valued at about $296,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

About Citi Trends

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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