Citi Trends Inc. (NASDAQ:CTRN) saw strong trading volume on Friday . 104,349 shares traded 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 equities research analysts have commented on the stock. MKM Partners lowered their price target on shares of Citi Trends from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, May 18th. SunTrust Banks Inc. lowered their price target on shares of Citi Trends from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Zacks Investment Research raised shares of Citi Trends from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 19th. Finally, Sidoti started coverage on shares of Citi Trends in a report on Tuesday, April 5th. They issued a “neutral” rating and a $20.00 price target on the stock.

The stock has a market capitalization of $240.36 million and a price-to-earnings ratio of 18.87. The firm has a 50-day moving average price of $16.23 and a 200 day moving average price of $17.59.

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

A number of large investors recently made changes to their positions in the company. Royce & Associates LLC raised its stake 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 valued at $4,562,000 after buying an additional 74,800 shares in the last quarter. Paradigm Capital Management Inc. NY raised its stake in shares of 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 in the last quarter. Systematic Financial Management LP raised its stake 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 valued at $1,873,000 after buying an additional 530 shares in the last quarter. Shell Asset Management Co. bought a new stake in shares of Citi Trends during the fourth quarter valued at approximately $1,574,000. Finally, California Public Employees Retirement System raised its stake 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 valued at $2,277,000 after buying an additional 1,700 shares in 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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