Citi Trends Inc. (CTRN) Sees Strong Trading Volume
Shares of Citi Trends Inc. (NASDAQ:CTRN) saw unusually-high trading volume on Friday . Approximately 79,659 shares were traded during 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 topic of several research reports. Zacks Investment Research upgraded Citi Trends from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Friday. TheStreet lowered Citi Trends from a “buy” rating to a “hold” rating in a research report on Wednesday. MKM Partners restated a “neutral” rating and set a $16.00 price target on shares of Citi Trends in a research report on Wednesday. Finally, SunTrust Banks Inc. dropped their price target on Citi Trends from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report 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 a consensus rating of “Hold” and an average price target of $18.50.
The stock’s 50-day moving average price is $17.14 and its 200 day moving average price is $17.29. The company has a market capitalization of $287.50 million and a price-to-earnings ratio of 22.57.
Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Wednesday, August 17th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.05. The company had revenue of $155.30 million for the quarter. Citi Trends’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 EPS. On average, equities analysts forecast that Citi Trends Inc. will post $1.00 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 13th. Shareholders of record on Tuesday, August 30th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, August 26th. This represents a $0.24 dividend on an annualized basis and a yield of 1.22%.
An institutional investor recently raised its position in Citi Trends stock. Systematic Financial Management LP raised its stake in Citi Trends Inc. (NASDAQ:CTRN) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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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