Citi Trends (CTRN) Upgraded to Buy by BidaskClub

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

Separately, ValuEngine lowered shares of Citi Trends from a buy rating to a hold rating in a research note on Thursday, November 15th.

CTRN stock traded up $0.54 during midday trading on Thursday, hitting $21.47. The company’s stock had a trading volume of 70,666 shares, compared to its average volume of 97,517. Citi Trends has a twelve month low of $17.78 and a twelve month high of $34.90. The firm has a market capitalization of $276.26 million, a P/E ratio of 17.04 and a beta of 0.54.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings data on Friday, November 30th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.07). The firm had revenue of $175.40 million for the quarter, compared to analyst estimates of $180.90 million. Citi Trends had a return on equity of 10.15% and a net margin of 2.47%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 earnings per share. Equities analysts expect that Citi Trends will post 1.69 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 26th. Stockholders of record on Tuesday, December 11th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, December 10th. This represents a $0.32 annualized dividend and a dividend yield of 1.49%. Citi Trends’s dividend payout ratio is presently 25.40%.

In other news, Director Jonathan Duskin sold 15,000 shares of the business’s stock in a transaction dated Tuesday, December 18th. The shares were sold at an average price of $19.63, for a total transaction of $294,450.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 8.41% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in CTRN. Teachers Advisors LLC grew its stake in Citi Trends by 2.2% in the 3rd quarter. Teachers Advisors LLC now owns 81,322 shares of the company’s stock valued at $2,340,000 after buying an additional 1,714 shares during the last quarter. Acadian Asset Management LLC grew its stake in Citi Trends by 2.5% in the 3rd quarter. Acadian Asset Management LLC now owns 97,465 shares of the company’s stock valued at $2,805,000 after buying an additional 2,343 shares during the last quarter. First Trust Advisors LP grew its stake in Citi Trends by 18.0% in the 2nd quarter. First Trust Advisors LP now owns 15,626 shares of the company’s stock valued at $429,000 after buying an additional 2,387 shares during the last quarter. IndexIQ Advisors LLC grew its stake in Citi Trends by 3.9% in the 3rd quarter. IndexIQ Advisors LLC now owns 73,544 shares of the company’s stock valued at $2,116,000 after buying an additional 2,779 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its stake in Citi Trends by 5.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 52,610 shares of the company’s stock valued at $1,514,000 after buying an additional 2,832 shares during the last quarter. Institutional investors own 90.49% 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.

See Also: How is inflation measured?

Receive News & Ratings for Citi Trends Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citi Trends and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply