Citi Trends, Inc. (NASDAQ:CTRN) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus target price of $28.00 for the company, according to Zacks. Zacks has also given Citi Trends an industry rank of 105 out of 256 based on the ratings given to related companies.
A number of equities analysts have issued reports on the stock. BidaskClub upgraded shares of Citi Trends from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. ValuEngine cut shares of Citi Trends from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Sidoti assumed coverage on shares of Citi Trends in a research report on Friday, February 22nd. They issued a “buy” rating and a $28.00 price objective on the stock. Finally, TheStreet cut shares of Citi Trends from a “b-” rating to a “c+” rating in a research report on Thursday.
In other news, SVP Christina Short sold 2,000 shares of Citi Trends stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $19.34, for a total transaction of $38,680.00. Following the sale, the senior vice president now owns 9,324 shares of the company’s stock, valued at approximately $180,326.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.19% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. TIAA CREF Investment Management LLC boosted its stake in shares of Citi Trends by 36.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 178,913 shares of the company’s stock valued at $5,147,000 after purchasing an additional 47,988 shares in the last quarter. Bowling Portfolio Management LLC boosted its stake in shares of Citi Trends by 16.8% during the 4th quarter. Bowling Portfolio Management LLC now owns 19,711 shares of the company’s stock valued at $402,000 after purchasing an additional 2,841 shares in the last quarter. Martingale Asset Management L P bought a new stake in shares of Citi Trends during the 4th quarter valued at about $592,000. JPMorgan Chase & Co. boosted its stake in shares of Citi Trends by 33.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 115,717 shares of the company’s stock valued at $3,329,000 after purchasing an additional 29,281 shares in the last quarter. Finally, Garnet Equity Capital Holdings Inc. boosted its stake in shares of Citi Trends by 67.6% during the 1st quarter. Garnet Equity Capital Holdings Inc. now owns 198,300 shares of the company’s stock valued at $3,829,000 after purchasing an additional 80,000 shares in the last quarter. 94.38% of the stock is currently owned by hedge funds and other institutional investors.
CTRN stock opened at $15.31 on Tuesday. Citi Trends has a 12-month low of $13.49 and a 12-month high of $34.90. The stock has a market capitalization of $185.65 million, a price-to-earnings ratio of 9.34 and a beta of 0.42.
Citi Trends (NASDAQ:CTRN) last released its quarterly earnings data on Thursday, May 23rd. The company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.13). Citi Trends had a net margin of 2.78% and a return on equity of 10.67%. The firm had revenue of $205.03 million during the quarter. As a group, equities research analysts expect that Citi Trends will post 1.9 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, June 3rd. Citi Trends’s payout ratio is 19.51%.
About Citi Trends
Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, such as fashion sportswear for men and women, as well as children, including newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional bedroom, bathroom, and kitchen products, as well as beauty products and toys.
See Also: Is it Safe to Invest in Commodities?
Get a free copy of the Zacks research report on Citi Trends (CTRN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Citi Trends Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citi Trends and related companies with MarketBeat.com's FREE daily email newsletter.