Citi Trends, Inc. (NASDAQ:CTRN) has been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Brokerages have set a 12-month consensus price target of $28.00 for the company and are predicting that the company will post $0.85 EPS for the current quarter, according to Zacks. Zacks has also assigned Citi Trends an industry rank of 73 out of 255 based on the ratings given to related companies.
CTRN has been the subject of several research analyst reports. Sidoti initiated coverage on shares of Citi Trends in a research note on Friday, February 22nd. They set a “buy” rating and a $28.00 price target for the company. BidaskClub raised shares of Citi Trends from a “hold” rating to a “buy” rating in a research note on Thursday, January 10th.
Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Friday, March 15th. The company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.03. Citi Trends had a net margin of 2.78% and a return on equity of 10.45%. The firm had revenue of $201.16 million during the quarter, compared to the consensus estimate of $215.00 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The company’s revenue was down 5.2% on a year-over-year basis. As a group, equities research analysts forecast that Citi Trends will post 1.9 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Monday, March 4th. Citi Trends’s dividend payout ratio is presently 19.51%.
In other news, SVP Christina Short sold 2,000 shares of Citi Trends stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $19.34, for a total transaction of $38,680.00. Following the completion of the sale, the senior vice president now owns 9,324 shares of the company’s stock, valued at $180,326.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.41% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Legal & General Group Plc raised its stake in shares of Citi Trends by 32.1% during the fourth quarter. Legal & General Group Plc now owns 2,542 shares of the company’s stock valued at $52,000 after acquiring an additional 618 shares in the last quarter. Teachers Advisors LLC raised its stake in Citi Trends by 2.2% in the third quarter. Teachers Advisors LLC now owns 81,322 shares of the company’s stock worth $2,340,000 after buying an additional 1,714 shares in the last quarter. Quantamental Technologies LLC bought a new position in Citi Trends in the fourth quarter worth approximately $40,000. Great West Life Assurance Co. Can raised its stake in Citi Trends by 1,635.7% in the fourth quarter. Great West Life Assurance Co. Can now owns 2,725 shares of the company’s stock worth $54,000 after buying an additional 2,568 shares in the last quarter. Finally, IndexIQ Advisors LLC raised its stake in Citi Trends by 3.9% in the third quarter. IndexIQ Advisors LLC now owns 73,544 shares of the company’s stock worth $2,116,000 after buying an additional 2,779 shares in the last quarter. 88.14% of the stock is owned by hedge funds and other institutional investors.
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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