Citi Trends Inc. (CTRN) Stock Price Up 4.8%
Citi Trends Inc. (NASDAQ:CTRN) rose 4.8% on Thursday . The company traded as high as $17.40 and last traded at $17.36, with a volume of 50,526 shares. The stock had previously closed at $16.56.
CTRN has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Citi Trends from a “sell” rating to a “hold” rating in a research report on Wednesday, May 11th. MKM Partners cut their price objective on Citi Trends from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, May 18th. Finally, SunTrust Banks Inc. cut their price objective on Citi Trends from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, May 19th.
The company has a market capitalization of $256.42 million and a P/E ratio of 20.13. The company’s 50 day moving average price is $16.60 and its 200 day moving average price is $17.35.
Citi Trends (NASDAQ:CTRN) last posted 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 had revenue of $193.70 million for the quarter, compared to analysts’ expectations of $198.53 million. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 earnings per share. Analysts forecast that Citi Trends Inc. will post $0.91 earnings per share for the current fiscal year.
Other hedge funds have recently bought and sold shares of the company. 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 last quarter. 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 last quarter. 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 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.