Citi Trends (NASDAQ:CTRN – Get Free Report)‘s stock had its “buy” rating reaffirmed by DA Davidson in a note issued to investors on Thursday,Benzinga reports. They presently have a $68.00 price objective on the stock. DA Davidson’s price target suggests a potential upside of 31.39% from the company’s previous close.
A number of other research analysts have also issued reports on CTRN. Craig Hallum restated a “buy” rating on shares of Citi Trends in a research report 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.00.
Read Our Latest Stock Report on CTRN
Citi Trends Price Performance
Citi Trends (NASDAQ:CTRN – Get Free Report) last released 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 business had revenue of $230.39 million during the quarter, compared to analyst estimates of $227.42 million.
Insider Buying and Selling at Citi Trends
In other news, Director Margaret L. Jenkins sold 2,000 shares of the company’s stock in a transaction on 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 sale, the director owned 14,163 shares in the company, valued at $650,223.33. This represents a 12.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 9.60% of the stock is currently owned by company insiders.
Institutional Trading of Citi Trends
Several institutional investors have recently modified their holdings of CTRN. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Citi Trends in the first quarter valued at $204,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Citi Trends by 17.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 64,248 shares of the company’s stock valued at $2,145,000 after buying an additional 9,380 shares during the period. Invesco Ltd. lifted its holdings in shares of Citi Trends by 243.3% in the second quarter. Invesco Ltd. now owns 103,965 shares of the company’s stock valued at $3,471,000 after buying an additional 73,678 shares during the period. Marshall Wace LLP lifted its holdings in shares of Citi Trends by 269.2% in the second quarter. Marshall Wace LLP now owns 160,084 shares of the company’s stock valued at $5,345,000 after buying an additional 116,722 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of Citi Trends in the second quarter valued at $594,000.
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.
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