Citi Trends, Inc. (NASDAQ:CTRN) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $32.85 and last traded at $32.65, with a volume of 4572 shares. The stock had previously closed at $31.46.
Several research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a research note on Wednesday, May 16th. BidaskClub upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a research note on Thursday, August 16th.
The company has a market capitalization of $412.08 million, a PE ratio of 25.79 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 for the quarter, missing the consensus estimate 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 analysts’ expectations of $210.70 million. During the same period in the previous year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. equities research analysts forecast that Citi Trends, Inc. will post 1.63 earnings per share for the current year.
In other news, Director Jonathan Duskin sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $29.94, for a total transaction of $359,280.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.41% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. LSV Asset Management raised its holdings in shares of Citi Trends by 1.6% during the first quarter. LSV Asset Management now owns 163,800 shares of the company’s stock valued at $5,063,000 after purchasing an additional 2,600 shares during the last quarter. Cambria Investment Management L.P. purchased a new position in shares of Citi Trends during the first quarter valued at approximately $296,000. BlackRock Inc. raised its holdings in shares of Citi Trends by 2.3% during the first quarter. BlackRock Inc. now owns 1,412,244 shares of the company’s stock valued at $43,653,000 after purchasing an additional 32,270 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Citi Trends by 329.3% during the first quarter. Dynamic Technology Lab Private Ltd now owns 37,630 shares of the company’s stock valued at $1,163,000 after purchasing an additional 28,865 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Citi Trends by 273.0% during the fourth quarter. Deutsche Bank AG now owns 61,240 shares of the company’s stock valued at $1,618,000 after purchasing an additional 44,822 shares during the last quarter. 91.20% of the stock is owned by hedge funds and other institutional investors.
Citi Trends Company Profile (NASDAQ:CTRN)
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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