Citi Trends, Inc. (NASDAQ:CTRN) has received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Zacks has also assigned Citi Trends an industry rank of 186 out of 265 based on the ratings given to related companies.
A number of research analysts have commented on CTRN shares. BidaskClub cut Citi Trends from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 6th. MKM Partners upgraded Citi Trends from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $25.00 to $32.00 in a research note on Tuesday, March 20th.
In other news, SVP Christina Short sold 2,752 shares of Citi Trends stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $30.91, for a total transaction of $85,064.32. Following the sale, the senior vice president now directly owns 50,078 shares of the company’s stock, valued at $1,547,910.98. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Ivy D. Council sold 4,156 shares of Citi Trends stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $30.71, for a total value of $127,630.76. Following the sale, the vice president now directly owns 80,984 shares in the company, valued at $2,487,018.64. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its position in shares of Citi Trends by 10.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 30,934 shares of the company’s stock worth $819,000 after acquiring an additional 3,040 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Citi Trends during the fourth quarter worth about $519,000. Sterling Capital Management LLC purchased a new stake in shares of Citi Trends during the fourth quarter worth about $884,000. MetLife Investment Advisors LLC purchased a new stake in shares of Citi Trends during the fourth quarter worth about $226,000. Finally, Macquarie Group Ltd. increased its position in shares of Citi Trends by 883.9% during the fourth quarter. Macquarie Group Ltd. now owns 9,839 shares of the company’s stock worth $260,000 after acquiring an additional 8,839 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.
Shares of CTRN traded up $0.42 during midday trading on Thursday, reaching $31.82. 115,465 shares of the company were exchanged, compared to its average volume of 125,735. The stock has a market cap of $428.27, a PE ratio of 25.25 and a beta of 0.22. Citi Trends has a 1-year low of $15.54 and a 1-year high of $31.92.
Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Friday, March 16th. The company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.06. The company had revenue of $212.14 million for the quarter, compared to analysts’ expectations of $211.00 million. Citi Trends had a return on equity of 8.39% and a net margin of 1.93%. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. analysts predict that Citi Trends will post 1.63 EPS for the current year.
Citi Trends announced that its Board of Directors has initiated a share buyback program on Friday, March 16th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 20th. Shareholders of record on Tuesday, March 6th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Monday, March 5th. Citi Trends’s dividend payout ratio is presently 25.40%.
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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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