Citi Trends Given New $24.00 Price Target at Citigroup Inc. (CTRN)
Equities research analysts at Citigroup Inc. increased their target price on shares of Citi Trends (NASDAQ:CTRN) to $24.00 in a research note issued to investors on Thursday. Citigroup Inc.’s target price indicates a potential upside of 21.46% from the company’s current price.
Shares of Citi Trends (NASDAQ:CTRN) traded up 6.63% during mid-day trading on Thursday, hitting $21.07. 83,754 shares of the company’s stock traded hands. Citi Trends has a one year low of $12.92 and a one year high of $19.89. The stock has a 50-day moving average of $16.93 and a 200-day moving average of $16.56. The company has a market cap of $312.4 million and a P/E ratio of 658.67.
Citi Trends (NASDAQ:CTRN) last announced its earnings results on Wednesday, May 21st. The company reported $0.61 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.10. The company had revenue of $188.00 million for the quarter, compared to the consensus estimate of $187.74 million. During the same quarter last year, the company posted $0.42 earnings per share. Citi Trends’s revenue was up 3.4% compared to the same quarter last year. On average, analysts predict that Citi Trends will post $0.34 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on CTRN. Analysts at MKM Partners raised their price target on shares of Citi Trends from $20.00 to $24.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Citi Trends in a research note on Wednesday, April 23rd. They now have a $18.00 price target on the stock. Finally, analysts at Susquehanna downgraded shares of Citi Trends from a “positive” rating to a “neutral” rating in a research note on Wednesday, February 26th. They now have a $18.00 price target on the stock, down previously from $20.00. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $19.00.
Citi Trends, Inc is a retailer of urban fashion apparel and accessories for the entire family. The Company offers branded apparel from national brands, as well as private label apparel, accessories and a limited assortment of home decor items.
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