Citi Trends (NASDAQ:CTRN) Trading 7.6% Higher – What’s Next?

Citi Trends, Inc. (NASDAQ:CTRN)’s share price was up 7.6% during trading on Tuesday . The company traded as high as $63.81 and last traded at $63.67. Approximately 86,740 shares traded hands during trading, a decline of 31% from the average daily volume of 126,561 shares. The stock had previously closed at $59.20.

Wall Street Analysts Forecast Growth

CTRN has been the topic of a number of recent research reports. Weiss Ratings raised Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Wall Street Zen upgraded Citi Trends from a “hold” rating to a “buy” rating in a research note on Monday, June 29th. Craig Hallum reaffirmed a “buy” rating on shares of Citi Trends in a research report on Wednesday, March 18th. Finally, DA Davidson increased their price objective on Citi Trends from $68.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Citi Trends presently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Citi Trends Stock Performance

The business has a fifty day moving average of $49.98 and a two-hundred day moving average of $47.14. The firm has a market capitalization of $529.40 million, a price-to-earnings ratio of 45.72 and a beta of 1.83.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings data on Tuesday, June 2nd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.59. Citi Trends had a net margin of 1.42% and a return on equity of 2.09%. The firm had revenue of $230.86 million during the quarter, compared to analysts’ expectations of $217.42 million. During the same period in the previous year, the business posted $0.11 earnings per share.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sei Investments Co. boosted its holdings in shares of Citi Trends by 101.7% during the first quarter. Sei Investments Co. now owns 45,536 shares of the company’s stock worth $1,973,000 after acquiring an additional 22,964 shares during the period. State of Wyoming bought a new stake in shares of Citi Trends during the 1st quarter valued at $397,000. Meeder Asset Management Inc. grew its holdings in shares of Citi Trends by 40.5% during the 1st quarter. Meeder Asset Management Inc. now owns 2,315 shares of the company’s stock worth $100,000 after purchasing an additional 667 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Citi Trends by 73.0% during the 1st quarter. Hillsdale Investment Management Inc. now owns 15,880 shares of the company’s stock worth $688,000 after purchasing an additional 6,700 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Citi Trends by 50.0% in the first quarter. Principal Financial Group Inc. now owns 18,330 shares of the company’s stock worth $794,000 after purchasing an additional 6,112 shares during the period.

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.