Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $70.15, but opened at $73.37. Citi Trends shares last traded at $74.4350, with a volume of 3,752 shares.
Analyst Ratings Changes
A number of analysts have commented on CTRN shares. DA Davidson upped their price target on Citi Trends from $68.00 to $73.00 and gave the stock a "buy" rating in a research report on Thursday, June 25th. Weiss Ratings raised Citi Trends from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 29th. Finally, Wall Street Zen upgraded Citi Trends from a "hold" rating to a "buy" rating in a research note on Monday, June 29th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $73.00.
Read Our Latest Stock Analysis on Citi Trends
Citi Trends Trading Up 2.6%
The firm's 50 day simple moving average is $64.35 and its 200 day simple moving average is $52.24. The firm has a market cap of $612.80 million, a PE ratio of 53.30 and a beta of 1.82.
Citi Trends (NASDAQ:CTRN - Get Free Report) last issued its earnings results on Tuesday, June 2nd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.59. The firm had revenue of $230.86 million for the quarter, compared to analysts' expectations of $217.42 million. Citi Trends had a return on equity of 2.09% and a net margin of 1.42%.During the same period in the previous year, the firm posted $0.11 earnings per share.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of CTRN. BlackRock Inc. bought a new stake in Citi Trends in the second quarter worth $29,400,000. Vanguard Group Inc. grew its stake in shares of Citi Trends by 10.2% in the 3rd quarter. Vanguard Group Inc. now owns 373,685 shares of the company's stock worth $11,595,000 after buying an additional 34,450 shares in the last quarter. AWM Investment Company Inc. increased its holdings in shares of Citi Trends by 3.9% in the 4th quarter. AWM Investment Company Inc. now owns 241,657 shares of the company's stock worth $10,043,000 after buying an additional 9,180 shares during the last quarter. Marshall Wace LLP raised its position in shares of Citi Trends by 61.1% during the 4th quarter. Marshall Wace LLP now owns 197,641 shares of the company's stock valued at $8,214,000 after buying an additional 74,994 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Citi Trends by 239.6% during the 4th quarter. AQR Capital Management LLC now owns 182,133 shares of the company's stock valued at $7,569,000 after buying an additional 128,508 shares in the last quarter.
About Citi Trends
(
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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.
Further Reading
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