Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research raised Citi Trends from a hold rating to a buy rating and set a $22.00 price objective on the stock in a research note on Friday, August 19th. MKM Partners reissued a neutral rating and set a $16.00 price objective on shares of Citi Trends in a research note on Wednesday, August 17th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Citi Trends currently has an average rating of Hold and an average target price of $18.50.
Citi Trends (NASDAQ:CTRN) opened at 19.79 on Monday. Citi Trends has a 12 month low of $14.01 and a 12 month high of $27.75. The stock has a 50 day moving average price of $19.06 and a 200 day moving average price of $17.53. The company has a market cap of $290.42 million, a price-to-earnings ratio of 22.96 and a beta of 0.32.
Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Wednesday, August 17th. The company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. Citi Trends had a return on equity of 5.64% and a net margin of 1.86%. The company had revenue of $155.30 million for the quarter. During the same period in the previous year, the firm earned $0.01 earnings per share. The company’s revenue was up .9% compared to the same quarter last year. Analysts anticipate that Citi Trends will post $1.00 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Tuesday, August 30th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, August 26th. This represents a $0.24 annualized dividend and a dividend yield of 1.21%. Citi Trends’s dividend payout ratio (DPR) is presently 27.59%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Group LTD raised its stake in shares of Citi Trends by 40.1% in the first quarter. BlackRock Group LTD now owns 8,395 shares of the company’s stock worth $150,000 after buying an additional 2,401 shares during the last quarter. Stoneridge Investment Partners LLC purchased a new stake in shares of Citi Trends during the second quarter worth about $203,000. KCG Holdings Inc. purchased a new stake in shares of Citi Trends during the second quarter worth about $234,000. Bank of Montreal Can purchased a new stake in shares of Citi Trends during the second quarter worth about $244,000. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Citi Trends by 9.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 16,865 shares of the company’s stock worth $262,000 after buying an additional 1,409 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.
Citi Trends Company Profile
Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Company operates approximately 520 stores in both urban and rural markets in over 30 states. The Company offers products under its brands, such as Citi Steps and Red Ape. The Company’s merchandise includes apparel, accessories and home.
Receive News & Ratings for Citi Trends Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citi Trends Inc. and related companies with MarketBeat.com's FREE daily email newsletter.