Citi Trends Inc. (CTRN) Upgraded at TheStreet
Citi Trends Inc. (NASDAQ:CTRN) was upgraded by investment analysts at TheStreet from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.
A number of other research firms have also issued reports on CTRN. Zacks Investment Research raised Citi Trends from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 19th. MKM Partners reaffirmed a “neutral” rating and issued a $16.00 target price on shares of Citi Trends in a research note on Wednesday, August 17th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $18.50.
Citi Trends (NASDAQ:CTRN) traded down 0.70% on Monday, reaching $19.74. The company had a trading volume of 41,262 shares. The firm has a market capitalization of $289.68 million, a price-to-earnings ratio of 22.90 and a beta of 0.32. Citi Trends has a 52-week low of $14.01 and a 52-week high of $27.75. The stock’s 50-day moving average price is $18.88 and its 200 day moving average price is $17.49.
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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, beating analysts’ consensus estimates of ($0.06) by $0.05. Citi Trends had a return on equity of 5.64% and a net margin of 1.86%. The firm had revenue of $155.30 million for the quarter. During the same period in the previous year, the company posted $0.01 EPS. Citi Trends’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts anticipate that Citi Trends will post $1.00 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Tuesday, August 30th were issued a $0.06 dividend. The ex-dividend date was Friday, August 26th. This represents a $0.24 annualized dividend and a yield of 1.22%. Citi Trends’s dividend payout ratio (DPR) is presently 27.59%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Group LTD increased its position 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 valued at $150,000 after buying an additional 2,401 shares during the period. Royce & Associates LP increased its stake in Citi Trends by 23.3% in the first quarter. Royce & Associates LP now owns 264,673 shares of the company’s stock worth $4,719,000 after buying an additional 50,000 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Citi Trends during the first quarter worth approximately $633,000. Finally, Panagora Asset Management Inc. increased its stake in Citi Trends by 6.7% in the first quarter. Panagora Asset Management Inc. now owns 201,522 shares of the company’s stock worth $3,593,000 after buying an additional 12,577 shares during the last quarter. Institutional investors own 95.22% of the company’s stock.
About Citi Trends
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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