Citi Trends (CTRN) Lowered to Hold at BidaskClub

BidaskClub cut shares of Citi Trends (NASDAQ:CTRN) from a buy rating to a hold rating in a research note released on Saturday.

NASDAQ CTRN opened at $29.48 on Friday. The company has a market capitalization of $395.10 million, a price-to-earnings ratio of 23.40 and a beta of 0.43. Citi Trends has a fifty-two week low of $18.45 and a fifty-two week high of $34.90.

Citi Trends (NASDAQ:CTRN) last released its earnings results on Thursday, August 23rd. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.17. The company had revenue of $182.00 million during the quarter, compared to analysts’ expectations of $178.50 million. Citi Trends had a return on equity of 10.59% and a net margin of 2.61%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 EPS. equities analysts forecast that Citi Trends will post 1.7 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Friday, August 31st. Citi Trends’s dividend payout ratio (DPR) is currently 25.40%.

In other news, SVP Ivy D. Council sold 3,723 shares of the stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $33.02, for a total transaction of $122,933.46. Following the completion of the transaction, the senior vice president now directly owns 77,261 shares in the company, valued at approximately $2,551,158.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Ivy D. Council sold 5,734 shares of the stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $32.44, for a total value of $186,010.96. Following the transaction, the senior vice president now owns 77,261 shares of the company’s stock, valued at $2,506,346.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,257 shares of company stock valued at $660,268. Company insiders own 8.41% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in CTRN. BlackRock Inc. lifted its stake in Citi Trends by 2.3% during the first quarter. BlackRock Inc. now owns 1,412,244 shares of the company’s stock worth $43,653,000 after purchasing an additional 32,270 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Citi Trends by 28.7% during the second quarter. Renaissance Technologies LLC now owns 200,075 shares of the company’s stock worth $5,490,000 after purchasing an additional 44,650 shares during the last quarter. Northern Trust Corp lifted its stake in Citi Trends by 1.3% during the first quarter. Northern Trust Corp now owns 191,337 shares of the company’s stock worth $5,914,000 after purchasing an additional 2,379 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Citi Trends by 38.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 176,019 shares of the company’s stock worth $4,830,000 after purchasing an additional 48,949 shares during the last quarter. Finally, LSV Asset Management lifted its stake in Citi Trends by 5.0% during the second quarter. LSV Asset Management now owns 172,000 shares of the company’s stock worth $4,719,000 after purchasing an additional 8,200 shares during the last quarter. Institutional investors own 89.63% of the company’s stock.

Citi Trends Company Profile

Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, including fashion sportswear for men and women, as well as children, such as newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional and decorative home products, as well as beauty products, books, and toys.

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