Citi Trends Inc. (CTRN) Sees Large Volume Increase
Citi Trends Inc. (NASDAQ:CTRN) shares saw unusually-high trading volume on Friday . Approximately 79,659 shares traded hands during mid-day trading, a decline of 9% from the previous session’s volume of 87,221 shares.The stock last traded at $19.52 and had previously closed at $19.82.
CTRN has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Citi Trends from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Friday. TheStreet cut shares of Citi Trends from a “buy” rating to a “hold” rating in a research note on Wednesday. MKM Partners reiterated a “neutral” rating and issued a $16.00 price objective on shares of Citi Trends in a research note on Wednesday. Finally, SunTrust Banks Inc. dropped their price objective on shares of Citi Trends from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, May 19th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Citi Trends presently has an average rating of “Hold” and a consensus price target of $18.50.
The stock has a market capitalization of $287.50 million and a P/E ratio of 22.57. The company’s 50-day moving average is $17.02 and its 200 day moving average is $17.29.
Citi Trends (NASDAQ:CTRN) last announced its earnings results on Wednesday, August 17th. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. The firm earned $155.30 million during the quarter. During the same period in the prior year, the company posted $0.01 EPS. Citi Trends’s revenue was up .9% compared to the same quarter last year. On average, equities analysts predict that Citi Trends Inc. will post $1.00 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 13th. Stockholders of record on Tuesday, August 30th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, August 26th. This represents a $0.24 annualized dividend and a dividend yield of 1.22%.
An institutional investor recently raised its position in Citi Trends stock. Systematic Financial Management LP boosted its stake in shares of Citi Trends Inc. (NASDAQ:CTRN) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,142 shares of the company’s stock after buying an additional 530 shares during the period. Systematic Financial Management LP owned approximately 0.59% of Citi Trends worth $1,873,000 at the end of the most recent reporting 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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