Citi Trends (NASDAQ:CTRN) Releases Earnings Results

Key Points

• Citi Trends beat earnings expectations, reporting quarterly EPS of $0.05 versus the consensus estimate of a $0.32 loss. The company posted a 1.42% net margin and 2.09% return on equity.
• Shares rose 3.7% to $74.35 following the results, near the stock’s 52-week high of $77.91. Citi Trends has a market capitalization of approximately $619 million.
• Analyst sentiment improved, with DA Davidson raising its price target to $73 and WallStreetZen upgrading the stock to “buy.” Overall, analysts rate Citi Trends “Moderate Buy,” with an average price target of $73.

Citi Trends (NASDAQ:CTRN - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.32) by $0.37, Zacks reports. Citi Trends had a return on equity of 2.09% and a net margin of 1.42%.

Citi Trends Stock Up 3.7%

Shares of CTRN stock opened at $74.35 on Tuesday. Citi Trends has a 52 week low of $29.60 and a 52 week high of $77.91. The stock has a market capitalization of $619.34 million, a PE ratio of 53.49 and a beta of 1.82. The firm has a 50 day moving average of $64.73 and a two-hundred day moving average of $52.44.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. 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 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 raised 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 assigned a Hold rating to the company's stock. According to MarketBeat.com, Citi Trends currently has an average rating of "Moderate Buy" and an average price target of $73.00.

Hedge Funds Weigh In On Citi Trends

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its position in shares of Citi Trends by 143.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company's stock worth $33,000 after acquiring an additional 619 shares in the last quarter. New York State Common Retirement Fund increased its stake in Citi Trends by 175.0% in the fourth quarter. New York State Common Retirement Fund now owns 1,100 shares of the company's stock valued at $46,000 after purchasing an additional 700 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in Citi Trends in the fourth quarter valued at approximately $51,000. Meeder Asset Management Inc. raised its holdings in Citi Trends by 277.1% during the fourth quarter. Meeder Asset Management Inc. now owns 1,648 shares of the company's stock worth $68,000 after purchasing an additional 1,211 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Citi Trends by 7,843.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,355 shares of the company's stock worth $197,000 after buying an additional 6,275 shares during the last quarter.

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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