BidaskClub Upgrades Citi Trends (CTRN) to “Buy”

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BidaskClub upgraded shares of Citi Trends (NASDAQ:CTRN) from a hold rating to a buy rating in a research note published on Thursday.

Separately, ValuEngine upgraded Citi Trends from a hold rating to a buy rating in a research note on Wednesday, May 16th.

NASDAQ:CTRN opened at $30.13 on Thursday. Citi Trends has a 52-week low of $17.43 and a 52-week high of $32.49. The firm has a market cap of $395.95 million, a P/E ratio of 23.91 and a beta of 0.27.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings data on Wednesday, May 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.07). Citi Trends had a net margin of 2.22% and a return on equity of 9.21%. The company had revenue of $211.03 million for the quarter, compared to the consensus estimate of $210.70 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. research analysts anticipate that Citi Trends will post 1.63 earnings per share for the current year.

In other Citi Trends news, Director Jonathan Duskin sold 12,000 shares of the company’s stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $29.94, for a total value of $359,280.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 8.41% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. MetLife Investment Advisors LLC bought a new position in Citi Trends in the 4th quarter worth about $226,000. Paloma Partners Management Co bought a new position in Citi Trends in the 2nd quarter worth about $262,000. Element Capital Management LLC bought a new position in Citi Trends in the 1st quarter worth about $291,000. Cambria Investment Management L.P. bought a new position in Citi Trends in the 1st quarter worth about $296,000. Finally, Engineers Gate Manager LP bought a new position in Citi Trends in the 2nd quarter worth about $358,000. Institutional investors and hedge funds own 91.04% of the company’s stock.

Citi Trends Company Profile

Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, including fashion sportswear for men and women, as well as children, such as newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional and decorative home products, as well as beauty products, books, and toys.

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