Citi Trends, Inc. (NASDAQ:CTRN) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $29.43 and last traded at $29.45, with a volume of 159981 shares traded. The stock had previously closed at $27.63.
Several research analysts recently issued reports on the company. MKM Partners raised Citi Trends from a “neutral” rating to a “buy” rating and raised their target price for the stock from $25.00 to $32.00 in a research report on Tuesday. BidaskClub lowered Citi Trends from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 6th.
The firm has a market cap of $379.63, a PE ratio of 30.44 and a beta of 0.50.
Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings data on Friday, March 16th. The company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.06. Citi Trends had a return on equity of 8.39% and a net margin of 1.93%. The firm had revenue of $212.14 million during the quarter, compared to analyst estimates of $211.00 million. During the same period last year, the company posted $0.38 EPS. The business’s quarterly revenue was up 14.4% on a year-over-year basis. equities analysts anticipate that Citi Trends, Inc. will post 1.63 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 20th. Stockholders of record on Tuesday, March 6th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Monday, March 5th. Citi Trends’s dividend payout ratio (DPR) is presently 31.37%.
Citi Trends declared that its board has authorized a stock buyback program on Friday, March 16th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
Hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. bought a new position in shares of Citi Trends in the 3rd quarter worth about $503,000. Nationwide Fund Advisors raised its position in shares of Citi Trends by 34.5% in the 3rd quarter. Nationwide Fund Advisors now owns 73,205 shares of the company’s stock worth $1,455,000 after acquiring an additional 18,783 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Citi Trends by 484.1% in the 4th quarter. Acadian Asset Management LLC now owns 120,169 shares of the company’s stock worth $3,178,000 after acquiring an additional 99,595 shares in the last quarter. OxFORD Asset Management LLP raised its position in shares of Citi Trends by 49.7% in the 3rd quarter. OxFORD Asset Management LLP now owns 104,635 shares of the company’s stock worth $2,080,000 after acquiring an additional 34,740 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Citi Trends by 425.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 57,561 shares of the company’s stock worth $1,145,000 after acquiring an additional 46,601 shares in the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.
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Citi Trends Company Profile
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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