Citi Trends Given New $24.00 Price Target at MKM Partners (CTRN)
Analysts at MKM Partners lifted their target price on shares of Citi Trends (NASDAQ:CTRN) from $20.00 to $24.00 in a research report issued to clients and investors on Thursday. The firm currently has a “buy” rating on the stock. MKM Partners’ target price would suggest a potential upside of 21.46% from the company’s current price.
Citi Trends (NASDAQ:CTRN) traded up 6.53% on Thursday, hitting $21.05. The stock had a trading volume of 83,854 shares. Citi Trends has a 52 week low of $12.92 and a 52 week high of $19.89. The stock’s 50-day moving average is $16.93 and its 200-day moving average is $16.56. The company has a market cap of $312.1 million and a P/E ratio of 658.67.
Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts predict that Citi Trends will post $0.34 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. Finally, analysts at Citigroup Inc. 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 stock. The stock has a consensus 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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