Citi Trends Inc. (CTRN) Lifted to Buy at TheStreet
CTRN has been the topic of a number of other reports. Zacks Investment Research raised Citi Trends from a hold rating to a buy rating and set a $22.00 price objective on the stock in a report on Friday, August 19th. MKM Partners reaffirmed a neutral rating and issued a $16.00 price objective on shares of Citi Trends in a report on Wednesday, August 17th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $18.50.
Citi Trends (NASDAQ:CTRN) opened at 19.93 on Monday. The company has a 50 day moving average price of $18.97 and a 200-day moving average price of $17.51. The company has a market capitalization of $292.47 million, a PE ratio of 23.12 and a beta of 0.32. Citi Trends has a 12-month low of $14.01 and a 12-month high of $27.75.
Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Wednesday, August 17th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.05. Citi Trends had a return on equity of 5.64% and a net margin of 1.86%. The business had revenue of $155.30 million for the quarter. During the same quarter last year, the company posted $0.01 EPS. The firm’s revenue was up .9% on a year-over-year basis. On average, analysts anticipate that Citi Trends will post $1.00 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Tuesday, August 30th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, August 26th. Citi Trends’s dividend payout ratio (DPR) is currently 27.59%.
Several hedge funds have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its stake in shares of Citi Trends by 9.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 16,865 shares of the company’s stock valued at $262,000 after buying an additional 1,409 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Citi Trends by 1.8% in the first quarter. Geode Capital Management LLC now owns 104,354 shares of the company’s stock valued at $1,860,000 after buying an additional 1,894 shares in the last quarter. TFS Capital LLC increased its stake in shares of Citi Trends by 12.7% in the second quarter. TFS Capital LLC now owns 19,738 shares of the company’s stock valued at $307,000 after buying an additional 2,232 shares in the last quarter. BlackRock Group LTD increased its stake in shares of Citi Trends by 40.1% in the first quarter. BlackRock Group LTD now owns 8,395 shares of the company’s stock valued at $150,000 after buying an additional 2,401 shares in the last quarter. Finally, BlackRock Investment Management LLC increased its stake in shares of Citi Trends by 5.7% in the second quarter. BlackRock Investment Management LLC now owns 62,696 shares of the company’s stock valued at $974,000 after buying an additional 3,364 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.
About Citi Trends
Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Company operates approximately 520 stores in both urban and rural markets in over 30 states. The Company offers products under its brands, such as Citi Steps and Red Ape. The Company’s merchandise includes apparel, accessories and home.
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