Zacks Investment Research upgraded shares of Citi Trends, Inc. (NASDAQ:CTRN) from a strong sell rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “Citi Trends’ shares have outperformed the broader industry in the last six months. The company is gaining from its strategies like better utilization of floor area, improvisation of merchandise margins and efficient inventory management, which can aid in turning around its operating performance. Moreover, the company is optimistic about the improving comps trends and the Home division’s performance going into the fourth quarter. However, the ever changing consumer taste and preference remains a threat. Also, the company’s fiscal third-quarter results were somewhat hurt by the seasonal nature of its business. The company typically generates stronger sales during the first and fourth quarters, which are characterized by the spring and holiday seasons. Further, the company’s lowered gross margin view poses concerns. Estimates have been stable ahead of the company’s fourth quarter earnings release.”
Separately, TheStreet lowered shares of Citi Trends from a b- rating to a c+ rating in a research note on Thursday, January 19th. Four equities research analysts have rated the stock with a hold rating, The company has a consensus rating of Hold and an average price target of $18.50.
Shares of Citi Trends (NASDAQ:CTRN) traded up 0.65% during mid-day trading on Tuesday, hitting $17.08. The company’s stock had a trading volume of 14,086 shares. Citi Trends has a 1-year low of $14.01 and a 1-year high of $22.73. The company has a market cap of $250.67 million, a price-to-earnings ratio of 22.24 and a beta of 0.20. The company has a 50-day moving average of $18.40 and a 200 day moving average of $18.88.
Citi Trends (NASDAQ:CTRN) last posted its earnings results on Tuesday, November 22nd. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.09. Citi Trends had a return on equity of 5.26% and a net margin of 1.64%. The firm had revenue of $160.70 million for the quarter, compared to the consensus estimate of $167.45 million. During the same period in the prior year, the business earned $0.04 EPS. Citi Trends’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, analysts expect that Citi Trends will post $0.91 EPS for the current year.
In related news, VP Charles Crowell sold 26,000 shares of Citi Trends stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $19.49, for a total value of $506,740.00. Following the completion of the transaction, the vice president now directly owns 28,500 shares in the company, valued at approximately $555,465. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC acquired a new position in Citi Trends during the third quarter worth $118,000. BlackRock Advisors LLC raised its position in Citi Trends by 9.5% in the third quarter. BlackRock Advisors LLC now owns 7,722 shares of the company’s stock worth $154,000 after buying an additional 670 shares in the last quarter. Citadel Advisors LLC acquired a new position in Citi Trends during the third quarter worth $202,000. The Manufacturers Life Insurance Company acquired a new position in Citi Trends during the third quarter worth $215,000. Finally, KCG Holdings Inc. acquired a new position in Citi Trends during the second quarter worth $234,000. Institutional investors and hedge funds own 92.63% of the company’s stock.
Citi Trends Company Profile
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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