Citi Trends (NASDAQ:CTRN) Hits New 12-Month High – Still a Buy?

Citi Trends, Inc. (NASDAQ:CTRN) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $70.00 and last traded at $69.3370, with a volume of 9622 shares changing hands. The stock had previously closed at $66.67.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a research report on Monday, June 29th. Weiss Ratings upgraded Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Finally, DA Davidson raised their target price on Citi Trends from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Citi Trends Trading Up 3.9%

The company has a market cap of $605.09 million, a PE ratio of 52.26 and a beta of 1.82. The business’s 50 day moving average is $57.40 and its two-hundred day moving average is $49.61.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.59. Citi Trends had a return on equity of 2.09% and a net margin of 1.42%.The business had revenue of $230.86 million for the quarter, compared to analysts’ expectations of $217.42 million. During the same period last year, the firm earned $0.11 earnings per share.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CTRN. Tectonic Advisors LLC boosted its stake in Citi Trends by 203.3% in the 4th quarter. Tectonic Advisors LLC now owns 45,396 shares of the company’s stock worth $1,887,000 after purchasing an additional 30,428 shares during the period. Sierra Summit Advisors LLC bought a new stake in shares of Citi Trends during the fourth quarter valued at approximately $994,000. Hodges Capital Management Inc. lifted its holdings in shares of Citi Trends by 12.7% in the first quarter. Hodges Capital Management Inc. now owns 125,100 shares of the company’s stock worth $5,419,000 after buying an additional 14,100 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Citi Trends by 57.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 34,989 shares of the company’s stock worth $1,454,000 after buying an additional 12,767 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Citi Trends during the first quarter worth $397,000.

Citi Trends Company Profile

Citi Trends, Inc (NASDAQ: CTRN) is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.

The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.