Citi Trends (NASDAQ:CTRN - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($0.82) earnings per share for the quarter, beating analysts' consensus estimates of ($1.01) by $0.19, Zacks reports. The firm had revenue of $190.75 million during the quarter, compared to analyst estimates of $188.20 million. Citi Trends had a negative return on equity of 21.07% and a negative net margin of 2.13%.
Citi Trends Stock Performance
NASDAQ CTRN traded down $1.32 during trading on Friday, hitting $35.63. The stock had a trading volume of 116,821 shares, compared to its average volume of 64,772. The stock has a market capitalization of $295.37 million, a price-to-earnings ratio of -17.82 and a beta of 2.05. Citi Trends has a one year low of $13.65 and a one year high of $39.17. The stock has a 50 day simple moving average of $31.64 and a 200 day simple moving average of $26.84.
Wall Street Analysts Forecast Growth
Several research firms recently commented on CTRN. DA Davidson lifted their price target on Citi Trends from $40.00 to $43.00 and gave the stock a "buy" rating in a research report on Wednesday. Wall Street Zen lowered Citi Trends from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Citi Trends currently has an average rating of "Buy" and an average target price of $39.50.
Read Our Latest Stock Report on Citi Trends
Insider Buying and Selling at Citi Trends
In other news, VP Katrina George sold 750 shares of Citi Trends stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $33.94, for a total transaction of $25,455.00. Following the completion of the sale, the vice president owned 6,150 shares of the company's stock, valued at approximately $208,731. The trade was a 10.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 10.70% of the company's stock.
Institutional Trading of Citi Trends
Institutional investors and hedge funds have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new position in Citi Trends in the first quarter worth approximately $204,000. Bank of America Corp DE raised its stake in Citi Trends by 5.8% in the second quarter. Bank of America Corp DE now owns 6,221 shares of the company's stock worth $208,000 after buying an additional 342 shares in the last quarter. State of Wyoming raised its stake in Citi Trends by 7.0% in the second quarter. State of Wyoming now owns 7,160 shares of the company's stock worth $239,000 after buying an additional 469 shares in the last quarter. Jump Financial LLC bought a new position in Citi Trends in the second quarter worth approximately $594,000. Finally, Engineers Gate Manager LP bought a new position in Citi Trends in the second quarter worth approximately $742,000.
About Citi Trends
(
Get Free Report)
Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. The company offers apparel, such as fashion sportswear and footwear for men and ladies, as well as apparel for kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.
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