Citi Trends Inc. (CTRN) Rating Increased to Buy at TheStreet
Citi Trends Inc. (NASDAQ:CTRN) was upgraded by stock analysts at TheStreet from a “hold” rating to a “buy” rating in a report released on Monday.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Citi Trends from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 19th. MKM Partners reaffirmed a “neutral” rating and set a $16.00 target price on shares of Citi Trends in a report on Wednesday, August 17th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $18.50.
Citi Trends (NASDAQ:CTRN) traded down 0.70% during trading on Monday, reaching $19.74. 41,262 shares of the company traded hands. The firm’s 50 day moving average price is $18.88 and its 200 day moving average price is $17.49. Citi Trends has a 12-month low of $14.01 and a 12-month high of $27.75. The firm has a market capitalization of $289.68 million, a price-to-earnings ratio of 22.90 and a beta of 0.32.
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Citi Trends (NASDAQ:CTRN) last posted its earnings results on Wednesday, August 17th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. Citi Trends had a net margin of 1.86% and a return on equity of 5.64%. The business had revenue of $155.30 million for the quarter. During the same quarter in the prior year, the company earned $0.01 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts expect that Citi Trends will post $1.00 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Tuesday, August 30th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, August 26th. Citi Trends’s dividend payout ratio is currently 27.59%.
Several institutional investors have recently added to or reduced their stakes in CTRN. State Board of Administration of Florida Retirement System raised its position in Citi Trends by 9.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 16,865 shares of the company’s stock valued at $262,000 after buying an additional 1,409 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Citi Trends by 1.8% in the first quarter. Geode Capital Management LLC now owns 104,354 shares of the company’s stock worth $1,860,000 after buying an additional 1,894 shares during the period. TFS Capital LLC raised its stake in shares of Citi Trends by 12.7% in the second quarter. TFS Capital LLC now owns 19,738 shares of the company’s stock worth $307,000 after buying an additional 2,232 shares during the period. BlackRock Group LTD raised its stake in shares of Citi Trends by 40.1% in the first quarter. BlackRock Group LTD now owns 8,395 shares of the company’s stock worth $150,000 after buying an additional 2,401 shares during the period. Finally, BlackRock Investment Management LLC raised its stake in shares of Citi Trends by 5.7% in the second quarter. BlackRock Investment Management LLC now owns 62,696 shares of the company’s stock worth $974,000 after buying an additional 3,364 shares during the period. 95.22% of the stock is currently owned by institutional investors.
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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