Shares of Citi Trends Inc. (NASDAQ:CTRN) shot up 5.3% on Friday . The company traded as high as $17.87 and last traded at $17.79, with a volume of 62,842 shares changing hands. The stock had previously closed at $16.89.

A number of brokerages have recently weighed in on CTRN. Zacks Investment Research upgraded Citi Trends from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 19th. MKM Partners lowered their target price on Citi Trends from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, May 18th. Finally, SunTrust Banks Inc. lowered their target price on Citi Trends from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, May 19th.

The stock has a market capitalization of $258.46 million and a PE ratio of 20.29. The company has a 50 day moving average price of $16.50 and a 200 day moving average price of $17.40.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings results on Wednesday, May 18th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by $0.16. The company earned $193.70 million during the quarter, compared to analyst estimates of $198.53 million. Citi Trends’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. Equities research analysts anticipate that Citi Trends Inc. will post $0.91 EPS for the current year.

Other hedge funds recently added to or reduced their stakes in the company. Paradigm Capital Management Inc. NY increased 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 worth $16,430,000 after buying an additional 743,213 shares during the last quarter. Systematic Financial Management LP increased 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 worth $1,873,000 after buying an additional 530 shares during the last quarter. Royce & Associates LLC increased 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 worth $4,562,000 after buying an additional 74,800 shares during the last quarter. Finally, California Public Employees Retirement System increased 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 worth $2,277,000 after buying an additional 1,700 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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