Citi Trends (NASDAQ:CTRN) Hits New 52-Week High - Should You Buy?

Key Points

• Citi Trends shares reached a new 52-week high, trading as high as $70 and closing around $69.34, up 3.8% on the day.
• Analyst sentiment is generally positive: two analysts rate the stock Buy and one rates it Hold, with a consensus price target of $73.00. DA Davidson recently raised its target from $68 to $73.
• The company reported strong quarterly results, posting earnings of $0.91 per share versus the $0.32 estimate and revenue of $230.86 million versus expectations of $217.42 million; several institutional investors have also increased their holdings.

Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $70.00 and last traded at $69.3370, with a volume of 9622 shares. The stock had previously closed at $66.67.

Analysts Set New Price Targets

CTRN has been the topic of several recent research reports. Wall Street Zen upgraded Citi Trends from a "hold" rating to a "buy" rating in a research report on Monday, June 29th. Weiss Ratings raised shares of Citi Trends from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 29th. Finally, DA Davidson boosted their target price on shares of Citi Trends from $68.00 to $73.00 and gave the company a "buy" rating in a research note on Thursday, June 25th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Citi Trends Trading Up 3.8%

The business has a 50-day moving average price of $56.27 and a 200-day moving average price of $49.28. The stock has a market cap of $576.69 million, a PE ratio of 49.99 and a beta of 1.82.

Citi Trends (NASDAQ:CTRN - Get Free Report) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.59. Citi Trends had a net margin of 1.42% and a return on equity of 2.09%. The company had revenue of $230.86 million during the quarter, compared to analysts' expectations of $217.42 million. During the same period in the prior year, the business posted $0.11 earnings per share.

Institutional Investors Weigh In On Citi Trends

Several large investors have recently bought and sold shares of the company. Tectonic Advisors LLC raised its holdings in shares of Citi Trends by 203.3% during the fourth quarter. Tectonic Advisors LLC now owns 45,396 shares of the company's stock valued at $1,887,000 after acquiring an additional 30,428 shares during the last quarter. Sierra Summit Advisors LLC acquired a new stake in shares of Citi Trends in the fourth quarter worth approximately $994,000. Hodges Capital Management Inc. increased its position in shares of Citi Trends by 12.7% during the first quarter. Hodges Capital Management Inc. now owns 125,100 shares of the company's stock worth $5,419,000 after purchasing an additional 14,100 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Citi Trends by 57.5% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 34,989 shares of the company's stock worth $1,454,000 after purchasing an additional 12,767 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Citi Trends during the first quarter worth approximately $397,000.

About Citi Trends

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.

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