Citi Trends, Inc. (CTRN) Rating Increased to Buy at ValuEngine
Citi Trends, Inc. (NASDAQ:CTRN) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
A number of other analysts have also recently issued reports on the company. TheStreet raised Citi Trends from a “c+” rating to a “b-” rating in a report on Tuesday, May 9th. Zacks Investment Research cut Citi Trends from a “hold” rating to a “sell” rating in a report on Thursday, February 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $18.00.
Citi Trends (NASDAQ:CTRN) traded up 0.06% during midday trading on Friday, hitting $17.66. The stock had a trading volume of 93,312 shares. The stock has a market cap of $259.92 million, a P/E ratio of 19.32 and a beta of 0.18. The company has a 50-day moving average price of $18.03 and a 200-day moving average price of $18.19. Citi Trends has a 52 week low of $14.73 and a 52 week high of $22.73.
Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Wednesday, May 17th. The company reported $0.68 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.68. The business had revenue of $200 million for the quarter, compared to analysts’ expectations of $197.10 million. Citi Trends had a return on equity of 5.27% and a net margin of 1.64%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 EPS. Equities analysts expect that Citi Trends will post $1.30 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 13th. Investors of record on Tuesday, May 30th will be issued a dividend of $0.08 per share. This is a boost from Citi Trends’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, May 25th. This represents a $0.32 dividend on an annualized basis and a yield of 1.81%. Citi Trends’s dividend payout ratio is 31.17%.
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In related news, SVP James A. Dunn sold 7,500 shares of the stock in a transaction dated Tuesday, March 28th. The stock was sold at an average price of $17.02, for a total transaction of $127,650.00. Following the sale, the senior vice president now owns 62,167 shares of the company’s stock, valued at approximately $1,058,082.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.60% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Credit Suisse AG boosted its stake in shares of Citi Trends by 54.3% in the first quarter. Credit Suisse AG now owns 16,490 shares of the company’s stock worth $280,000 after buying an additional 5,803 shares during the period. Aegis Financial Corp boosted its stake in Citi Trends by 113.1% in the first quarter. Aegis Financial Corp now owns 115,686 shares of the company’s stock valued at $1,967,000 after buying an additional 61,397 shares during the last quarter. AWM Investment Company Inc. boosted its stake in Citi Trends by 13.9% in the first quarter. AWM Investment Company Inc. now owns 430,000 shares of the company’s stock valued at $7,310,000 after buying an additional 52,427 shares during the last quarter. Citadel Advisors LLC boosted its stake in Citi Trends by 321.8% in the first quarter. Citadel Advisors LLC now owns 55,005 shares of the company’s stock valued at $935,000 after buying an additional 41,964 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Citi Trends by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,256,094 shares of the company’s stock valued at $21,354,000 after buying an additional 10,098 shares during the last quarter. 94.35% of the stock is currently owned by institutional investors and hedge funds.
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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