Wall Street Zen Upgrades Citi Trends (NASDAQ:CTRN) to Buy

Citi Trends (NASDAQ:CTRN) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Monday.

CTRN has been the subject of several other research reports. DA Davidson increased their price target on Citi Trends from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings raised Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Finally, Craig Hallum reiterated a “buy” rating on shares of Citi Trends in a report on Wednesday, March 18th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Citi Trends currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Citi Trends Stock Performance

CTRN stock opened at $59.12 on Monday. The company has a market capitalization of $492.47 million, a P/E ratio of 42.53 and a beta of 1.88. The company has a fifty day moving average price of $48.41 and a 200-day moving average price of $46.14. Citi Trends has a 52-week low of $28.44 and a 52-week high of $66.38.

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

Insider Buying and Selling at Citi Trends

In other news, Director Margaret L. Jenkins sold 2,000 shares of Citi Trends stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $45.91, for a total value of $91,820.00. Following the completion of the transaction, the director directly owned 14,163 shares of the company’s stock, valued at approximately $650,223.33. This trade represents a 12.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Citi Trends

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its stake in Citi Trends by 143.3% in the third quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock valued at $33,000 after buying an additional 619 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Citi Trends by 175.0% during the 4th quarter. New York State Common Retirement Fund now owns 1,100 shares of the company’s stock worth $46,000 after buying an additional 700 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Citi Trends during the 4th quarter worth approximately $51,000. Meeder Asset Management Inc. grew its position in shares of Citi Trends by 277.1% during the 4th quarter. Meeder Asset Management Inc. now owns 1,648 shares of the company’s stock worth $68,000 after buying an additional 1,211 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Citi Trends by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 5,356 shares of the company’s stock valued at $223,000 after acquiring an additional 1,693 shares in the last quarter.

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.