Citi Trends (NASDAQ:CTRN – Get Free Report) released its quarterly earnings data on Tuesday. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.37, Zacks reports. Citi Trends had a return on equity of 2.09% and a net margin of 1.42%.
Citi Trends Trading Up 3.7%
Shares of NASDAQ CTRN opened at $74.35 on Tuesday. The stock has a fifty day simple moving average of $64.73 and a two-hundred day simple moving average of $52.44. Citi Trends has a 1-year low of $29.60 and a 1-year high of $77.91. The firm has a market cap of $619.34 million, a price-to-earnings ratio of 53.49 and a beta of 1.82.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the company. Weiss Ratings upgraded Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. DA Davidson increased their price target on shares of Citi Trends from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Finally, Wall Street Zen upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a research report on Monday, June 29th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the 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.
Hedge Funds Weigh In On Citi Trends
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Citi Trends by 10.2% during the third quarter. Vanguard Group Inc. now owns 373,685 shares of the company’s stock valued at $11,595,000 after buying an additional 34,450 shares during the last quarter. AWM Investment Company Inc. increased its holdings in Citi Trends by 3.9% during the 4th quarter. AWM Investment Company Inc. now owns 241,657 shares of the company’s stock worth $10,043,000 after purchasing an additional 9,180 shares during the period. Marshall Wace LLP grew its holdings in Citi Trends by 61.1% during the 4th quarter. Marshall Wace LLP now owns 197,641 shares of the company’s stock worth $8,214,000 after acquiring an additional 74,994 shares in the last quarter. AQR Capital Management LLC boosted its position in Citi Trends by 239.6% during the 4th quarter. AQR Capital Management LLC now owns 182,133 shares of the company’s stock valued at $7,569,000 after acquiring an additional 128,508 shares in the last quarter. Finally, Broad Bay Capital Management LP acquired a new stake in Citi Trends during the fourth quarter valued at $6,650,000.
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.
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