Citi Trends (NASDAQ:CTRN) Posts Quarterly Earnings Results, Beats Estimates By $0.59 EPS

Citi Trends (NASDAQ:CTRN) released its earnings results on Tuesday. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.32 by $0.59, FiscalAI reports. The company had revenue of $230.86 million during the quarter, compared to analysts’ expectations of $217.42 million. Citi Trends had a negative return on equity of 4.78% and a net margin of 0.64%.

Citi Trends Stock Performance

Shares of CTRN opened at $44.28 on Tuesday. The firm has a market capitalization of $370.18 million, a price-to-earnings ratio of 75.05 and a beta of 1.88. Citi Trends has a one year low of $26.08 and a one year high of $56.78. The stock’s fifty day moving average is $45.07 and its 200-day moving average is $44.78.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Craig Hallum restated a “buy” rating on shares of Citi Trends in a research note on Wednesday, March 18th. DA Davidson restated a “buy” rating and set a $68.00 price objective on shares of Citi Trends in a research note on Thursday, May 28th. Finally, Weiss Ratings upgraded Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Insider Activity at Citi Trends

In other news, Director Margaret L. Jenkins sold 2,000 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $45.91, for a total transaction of $91,820.00. Following the transaction, the director directly owned 14,163 shares of the company’s stock, valued at approximately $650,223.33. This trade represents a 12.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CTRN. Broad Bay Capital Management LP acquired a new position in Citi Trends during the fourth quarter worth about $6,650,000. AQR Capital Management LLC grew its holdings in Citi Trends by 239.6% during the fourth quarter. AQR Capital Management LLC now owns 182,133 shares of the company’s stock worth $7,569,000 after acquiring an additional 128,508 shares during the period. Marshall Wace LLP grew its holdings in Citi Trends by 269.2% during the second quarter. Marshall Wace LLP now owns 160,084 shares of the company’s stock worth $5,345,000 after acquiring an additional 116,722 shares during the period. UBS Group AG grew its holdings in Citi Trends by 478.3% during the third quarter. UBS Group AG now owns 122,631 shares of the company’s stock worth $3,805,000 after acquiring an additional 101,426 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Citi Trends during the third quarter worth about $2,778,000.

About Citi Trends

Citi Trends, Inc (NASDAQ: CTRN) is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.

The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.