Citi Trends (NASDAQ:CTRN) Hits New 1-Year High – Should You Buy?

Citi Trends, Inc. (NASDAQ:CTRN) hit a new 52-week high during trading on Thursday . The company traded as high as $59.11 and last traded at $60.3480, with a volume of 28502 shares traded. The stock had previously closed at $56.84.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Citi Trends from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Craig Hallum reissued a “buy” rating on shares of Citi Trends in a report on Wednesday, March 18th. DA Davidson reissued a “buy” rating and issued a $68.00 target price on shares of Citi Trends in a report on Wednesday, June 3rd. Finally, Weiss Ratings upgraded shares of Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Citi Trends Stock Performance

The firm has a 50-day moving average of $46.87 and a two-hundred day moving average of $45.57. The firm has a market capitalization of $505.30 million, a P/E ratio of 43.64 and a beta of 1.88.

Citi Trends (NASDAQ:CTRN) last released its earnings results on Tuesday, June 2nd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.59. The firm had revenue of $230.86 million for the quarter, compared to analysts’ expectations of $217.42 million. Citi Trends had a return on equity of 2.09% and a net margin of 1.42%.During the same quarter in the previous year, the business posted $0.11 earnings per share.

Insider Buying and Selling at Citi Trends

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

Institutional Trading of Citi Trends

Hedge funds have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new stake in shares of Citi Trends during the first quarter worth $204,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Citi Trends by 17.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 64,248 shares of the company’s stock valued at $2,145,000 after acquiring an additional 9,380 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Citi Trends by 243.3% during the 2nd quarter. Invesco Ltd. now owns 103,965 shares of the company’s stock valued at $3,471,000 after acquiring an additional 73,678 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Citi Trends by 269.2% during the 2nd quarter. Marshall Wace LLP now owns 160,084 shares of the company’s stock valued at $5,345,000 after acquiring an additional 116,722 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in Citi Trends during the 2nd quarter worth $594,000.

About Citi Trends

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.