Hodges Capital Management Inc. grew its holdings in Citi Trends, Inc. (NASDAQ:CTRN – Free Report) by 12.7% in the first quarter, HoldingsChannel reports. The fund owned 125,100 shares of the company’s stock after buying an additional 14,100 shares during the period. Hodges Capital Management Inc.’s holdings in Citi Trends were worth $5,419,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new stake in Citi Trends in the 4th quarter worth about $3,616,000. Tectonic Advisors LLC grew its position in shares of Citi Trends by 203.3% during the 4th quarter. Tectonic Advisors LLC now owns 45,396 shares of the company’s stock worth $1,887,000 after purchasing an additional 30,428 shares in the last quarter. Sierra Summit Advisors LLC acquired a new position in shares of Citi Trends during the 4th quarter worth approximately $994,000. Dynamic Technology Lab Private Ltd increased its holdings in shares of Citi Trends by 57.5% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 34,989 shares of the company’s stock worth $1,454,000 after purchasing an additional 12,767 shares during the period. Finally, EVR Research LP bought a new position in shares of Citi Trends during the fourth quarter worth approximately $1,247,000.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on CTRN shares. DA Davidson boosted 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, June 25th. Wall Street Zen upgraded Citi Trends from a “hold” rating to a “buy” rating in a research note on Monday, June 29th. Weiss Ratings raised Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Finally, Craig Hallum reiterated a “buy” rating on shares of Citi Trends in a research report on Wednesday, March 18th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.00.
Citi Trends Stock Performance
NASDAQ CTRN opened at $55.28 on Monday. The firm has a market capitalization of $460.48 million, a price-to-earnings ratio of 39.77 and a beta of 1.83. The firm’s 50 day simple moving average is $49.02 and its 200 day simple moving average is $46.52. Citi Trends, Inc. has a 1 year low of $28.44 and a 1 year high of $66.38.
Citi Trends (NASDAQ:CTRN – Get Free Report) last announced its quarterly earnings data 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. Citi Trends had a net margin of 1.42% and a return on equity of 2.09%. The business had revenue of $230.86 million for the quarter, compared to analysts’ expectations of $217.42 million. During the same period last year, the firm posted $0.11 earnings per share.
Citi Trends 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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