Shares of Citi Trends, Inc. (NASDAQ:CTRN) have received an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Zacks has also given Citi Trends an industry rank of 177 out of 265 based on the ratings given to related companies.
CTRN has been the subject of several recent research reports. MKM Partners raised Citi Trends from a “neutral” rating to a “buy” rating and upped their target price for the company from $25.00 to $32.00 in a report on Tuesday, March 20th. BidaskClub raised Citi Trends from a “sell” rating to a “hold” rating in a report on Thursday, March 15th.
In other news, SVP Christina Short sold 2,752 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $30.91, for a total transaction of $85,064.32. Following the completion of the transaction, the senior vice president now directly owns 50,078 shares of the company’s stock, valued at $1,547,910.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ivy D. Council sold 4,156 shares of the company’s stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $30.71, for a total value of $127,630.76. Following the transaction, the vice president now directly owns 80,984 shares of the company’s stock, valued at $2,487,018.64. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Citi Trends by 16.8% in the 4th quarter. BlackRock Inc. now owns 1,379,974 shares of the company’s stock worth $36,514,000 after buying an additional 198,714 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Citi Trends by 4.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,125,634 shares of the company’s stock worth $29,784,000 after buying an additional 45,530 shares in the last quarter. Garnet Equity Capital Holdings Inc. bought a new position in Citi Trends in the 4th quarter worth approximately $6,906,000. Algert Global LLC grew its holdings in Citi Trends by 136.1% in the 3rd quarter. Algert Global LLC now owns 233,938 shares of the company’s stock worth $4,648,000 after buying an additional 134,839 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Citi Trends by 93.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 194,624 shares of the company’s stock worth $5,150,000 after buying an additional 94,229 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ CTRN opened at $32.01 on Thursday. Citi Trends has a 52-week low of $15.54 and a 52-week high of $32.49. The company has a market cap of $439.68, a price-to-earnings ratio of 25.40 and a beta of 0.21.
Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Friday, March 16th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.06. Citi Trends had a return on equity of 8.39% and a net margin of 1.93%. The firm had revenue of $212.14 million for the quarter, compared to analysts’ expectations of $211.00 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Citi Trends’s revenue for the quarter was up 14.4% compared to the same quarter last year. equities research analysts expect that Citi Trends will post 1.63 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 20th. Stockholders of record on Tuesday, March 6th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Monday, March 5th. Citi Trends’s dividend payout ratio (DPR) is presently 25.40%.
Citi Trends declared that its board has approved a stock buyback plan on Friday, March 16th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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About Citi Trends
Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Company operates approximately 520 stores in both urban and rural markets in over 30 states. The Company offers products under its brands, such as Citi Steps and Red Ape. The Company’s merchandise includes apparel, accessories and home.
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