Citi Trends Inc. (NASDAQ:CTRN) shares saw strong trading volume on Friday . 104,349 shares changed hands during mid-day trading, an increase of 24% from the previous session’s volume of 84,199 shares.The stock last traded at $16.50 and had previously closed at $16.72.

Several analysts have issued reports on the stock. Sidoti assumed coverage on shares of Citi Trends in a research report on Tuesday, April 5th. They issued a “neutral” rating and a $20.00 price target on the stock. Zacks Investment Research upgraded shares of Citi Trends from a “sell” rating to a “hold” rating in a research report on Wednesday, May 11th. MKM Partners decreased their price target on shares of Citi Trends from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 18th. Finally, SunTrust Banks Inc. reduced their price objective on shares of Citi Trends from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, May 19th.

The company has a 50-day moving average price of $16.23 and a 200-day moving average price of $17.59. The firm has a market capitalization of $240.36 million and a P/E ratio of 18.87.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Wednesday, May 18th. The company reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by $0.16. The firm had revenue of $193.70 million for the quarter, compared to analyst estimates of $198.53 million. During the same quarter in the previous year, the company posted $0.74 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts anticipate that Citi Trends Inc. will post $0.91 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in Citi Trends by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,094,909 shares of the company’s stock valued at $23,267,000 after buying an additional 157,812 shares during the period. Paradigm Capital Management Inc. NY raised its stake in Citi Trends by 2,477.4% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 773,213 shares of the company’s stock valued at $16,430,000 after buying an additional 743,213 shares during the period. Royce & Associates LLC raised its stake in Citi Trends by 53.5% in the fourth quarter. Royce & Associates LLC now owns 214,673 shares of the company’s stock valued at $4,562,000 after buying an additional 74,800 shares during the period. California Public Employees Retirement System raised its stake in Citi Trends by 1.6% in the fourth quarter. California Public Employees Retirement System now owns 107,169 shares of the company’s stock valued at $2,277,000 after buying an additional 1,700 shares during the period. Finally, Systematic Financial Management LP raised its stake in Citi Trends by 0.6% in the fourth quarter. Systematic Financial Management LP now owns 88,142 shares of the company’s stock valued at $1,873,000 after buying an additional 530 shares during the period.

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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