Citi Trends (NASDAQ:CTRN) Announces Quarterly Earnings Results, Misses Expectations By $1.42 EPS

Citi Trends (NASDAQ:CTRN) issued its earnings results on Tuesday. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($1.42), Zacks reports. The business had revenue of $176.55 million during the quarter. Citi Trends had a negative return on equity of 4.99% and a negative net margin of 1.16%.

Citi Trends Stock Up 1.0 %

Shares of CTRN opened at $14.47 on Friday. Citi Trends has a 52-week low of $13.98 and a 52-week high of $32.90. The firm has a market capitalization of $124.37 million, a PE ratio of -13.40 and a beta of 2.39. The firm has a 50-day moving average price of $18.18 and a 200 day moving average price of $22.93.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CTRN. DA Davidson dropped their price target on Citi Trends from $33.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday. Craig Hallum cut their target price on Citi Trends from $25.00 to $14.00 and set a “hold” rating on the stock in a research note on Wednesday. Benchmark reissued a “buy” rating and set a $35.00 price target on shares of Citi Trends in a report on Wednesday, June 5th. Finally, StockNews.com cut shares of Citi Trends from a “hold” rating to a “sell” rating in a report on Thursday.

Insider Buying and Selling

In other news, major shareholder Fund 1 Investments, Llc purchased 7,835 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was purchased at an average cost of $24.02 per share, with a total value of $188,196.70. Following the purchase, the insider now owns 2,159,362 shares in the company, valued at approximately $51,867,875.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Citi Trends news, CEO Kenneth Duane Seipel acquired 86,998 shares of Citi Trends stock in a transaction dated Wednesday, July 10th. The stock was bought at an average price of $18.96 per share, for a total transaction of $1,649,482.08. Following the transaction, the chief executive officer now owns 123,916 shares in the company, valued at approximately $2,349,447.36. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Fund 1 Investments, Llc acquired 7,835 shares of Citi Trends stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average price of $24.02 per share, with a total value of $188,196.70. Following the transaction, the insider now owns 2,159,362 shares in the company, valued at approximately $51,867,875.24. The disclosure for this purchase can be found here. Insiders have bought a total of 485,961 shares of company stock valued at $9,914,198 over the last quarter. Corporate insiders own 3.80% of the company’s stock.

Citi Trends Company Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. It offers apparel, such as fashion sportswear and footwear for men and ladies, as well as apparel for kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.