Citi Trends (NASDAQ:CTRN) Given Buy Rating at DA Davidson

DA Davidson reissued their buy rating on shares of Citi Trends (NASDAQ:CTRN) in a research report report published on Thursday,Benzinga reports. The brokerage currently has a $68.00 price objective on the stock.

Several other research analysts also recently weighed in on CTRN. Craig Hallum restated a “buy” rating on shares of Citi Trends in a research note on Wednesday, March 18th. Weiss Ratings upgraded Citi Trends from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.00.

Citi Trends Trading Up 8.4%

Shares of NASDAQ:CTRN opened at $50.50 on Thursday. The stock has a 50 day moving average of $45.21 and a 200 day moving average of $44.70. The company has a market cap of $422.18 million, a PE ratio of 85.59 and a beta of 1.93. Citi Trends has a 12-month low of $25.52 and a 12-month high of $56.78.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Tuesday, March 17th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. Citi Trends had a negative return on equity of 4.78% and a net margin of 0.64%.The company had revenue of $230.39 million during the quarter, compared to the consensus estimate of $227.42 million.

Insiders Place Their Bets

In related news, Director Margaret L. Jenkins sold 2,000 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $45.91, for a total transaction of $91,820.00. Following the sale, the director owned 14,163 shares in the company, valued at approximately $650,223.33. This represents a 12.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 9.60% of the company’s stock.

Institutional Trading of Citi Trends

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sei Investments Co. raised its holdings in Citi Trends by 101.7% during the 1st quarter. Sei Investments Co. now owns 45,536 shares of the company’s stock valued at $1,973,000 after buying an additional 22,964 shares during the period. State of Wyoming purchased a new stake in Citi Trends during the 1st quarter valued at $397,000. Meeder Asset Management Inc. raised its holdings in Citi Trends by 40.5% during the 1st quarter. Meeder Asset Management Inc. now owns 2,315 shares of the company’s stock valued at $100,000 after buying an additional 667 shares during the period. Hillsdale Investment Management Inc. raised its holdings in Citi Trends by 73.0% during the 1st quarter. Hillsdale Investment Management Inc. now owns 15,880 shares of the company’s stock valued at $688,000 after buying an additional 6,700 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Citi Trends by 50.0% during the 1st quarter. Principal Financial Group Inc. now owns 18,330 shares of the company’s stock valued at $794,000 after buying an additional 6,112 shares during the period.

Citi Trends Company Profile

Citi Trends, Inc (NASDAQ: CTRN) is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.

The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.