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

Citi Trends (NASDAQ:CTRN) announced its earnings results on Tuesday. The company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($1.42), Zacks reports. The company 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 Performance

Citi Trends stock opened at $14.47 on Friday. Citi Trends has a fifty-two week low of $13.98 and a fifty-two week high of $32.90. The company has a market cap of $124.37 million, a PE ratio of -13.40 and a beta of 2.39. The business’s 50-day simple moving average is $18.18 and its two-hundred day simple moving average is $22.93.

Wall Street Analyst Weigh In

CTRN has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and set a $35.00 target price on shares of Citi Trends in a research note on Wednesday, June 5th. Craig Hallum reduced 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. DA Davidson lowered their target price on shares of Citi Trends from $33.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, StockNews.com downgraded Citi Trends from a “hold” rating to a “sell” rating in a report on Thursday.

Insider Buying and Selling

In other Citi Trends news, major shareholder Fund 1 Investments, Llc acquired 3,000 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were purchased at an average price of $20.06 per share, for a total transaction of $60,180.00. Following the completion of the purchase, the insider now directly owns 2,571,986 shares of the company’s stock, valued at $51,594,039.16. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other Citi Trends news, CEO Kenneth Duane Seipel acquired 135,128 shares of the company’s stock in a transaction on Friday, July 12th. The shares were bought at an average cost of $19.06 per share, with a total value of $2,575,539.68. Following the completion of the acquisition, the chief executive officer now owns 319,562 shares in the company, valued at $6,090,851.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Fund 1 Investments, Llc bought 3,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were acquired at an average price of $20.06 per share, for a total transaction of $60,180.00. Following the transaction, the insider now directly owns 2,571,986 shares in the company, valued at $51,594,039.16. The disclosure for this purchase can be found here. Insiders bought 485,961 shares of company stock valued at $9,914,198 over the last quarter. 3.80% of the stock is currently owned by company insiders.

About Citi Trends

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.