Citi Trends Inc. (CTRN) Sees Large Volume Increase
Shares of Citi Trends Inc. (NASDAQ:CTRN) saw unusually-strong trading volume on Monday . Approximately 96,863 shares traded hands during trading, an increase of 7% from the previous session’s volume of 90,755 shares.The stock last traded at $16.95 and had previously closed at $16.52.
A number of research analysts have recently issued reports on CTRN shares. Zacks Investment Research raised Citi Trends from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th. SunTrust Banks Inc. lowered their target price on Citi Trends from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. MKM Partners lowered their target price on Citi Trends from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, May 18th. Finally, Sidoti initiated coverage on Citi Trends in a report on Tuesday, April 5th. They issued a “neutral” rating and a $20.00 target price on the stock.
The firm’s 50-day moving average price is $15.90 and its 200-day moving average price is $17.75. The stock has a market cap of $248.68 million and a P/E ratio of 19.52.
Citi Trends (NASDAQ:CTRN) last announced its earnings results on Wednesday, May 18th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by $0.16. During the same period in the prior year, the firm earned $0.74 earnings per share. The business earned $193.70 million during the quarter, compared to analyst estimates of $198.53 million. Citi Trends’s revenue was down .6% on a year-over-year basis. On average, analysts forecast that Citi Trends Inc. will post $0.91 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 14th. Shareholders of record on Tuesday, May 31st were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, May 26th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.41%.
Other institutional investors have recently made changes to their positions in the company. Wedge Capital Management L L P NC boosted its position in shares of Citi Trends by 22.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 55,400 shares of the company’s stock worth $1,177,000 after buying an additional 10,300 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Citi Trends by 1.6% in the fourth quarter. California Public Employees Retirement System now owns 107,169 shares of the company’s stock worth $2,277,000 after buying an additional 1,700 shares during the last quarter. Shell Asset Management Co. purchased a new position in shares of Citi Trends during the fourth quarter worth approximately $1,574,000. Royce & Associates LLC boosted its position in shares of Citi Trends by 53.5% in the fourth quarter. Royce & Associates LLC now owns 214,673 shares of the company’s stock worth $4,562,000 after buying an additional 74,800 shares during the last quarter. Finally, Systematic Financial Management LP boosted its position in shares of Citi Trends by 0.6% in the fourth quarter. Systematic Financial Management LP now owns 88,142 shares of the company’s stock worth $1,873,000 after buying an additional 530 shares during the last quarter.
Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s stores average approximately 10,800 square feet of selling space and are located in shopping centers. As of January 31, 2015, the Company operated 511 stores in both urban and rural markets in 29 states. The Company offers products under its brands, such as Citi Steps, Red Ape, Vintage Harlem and Lil Ms Hollywood.
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