Canada Pension Plan Investment Board Purchases New Shares in Citi Trends, Inc. $CTRN

Key Points

• Canada Pension Plan Investment Board acquired 14,800 shares of Citi Trends in the second quarter, valued at approximately $856,000, representing about 0.18% of the company.
• Citi Trends reported quarterly EPS of $0.05, beating the consensus estimate of a $0.32 loss, while revenue of $211.63 million was essentially in line with expectations.
• CTRN shares opened at $68.07, and analysts maintain a “Moderate Buy” consensus with an average price target of $81.00; the stock has risen substantially from its 12-month low of $29.60.

Canada Pension Plan Investment Board acquired a new stake in Citi Trends, Inc. (NASDAQ:CTRN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 14,800 shares of the company's stock, valued at approximately $856,000. Canada Pension Plan Investment Board owned about 0.18% of Citi Trends as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of CTRN. Sei Investments Co. increased its stake in shares of Citi Trends by 101.7% in the first quarter. Sei Investments Co. now owns 45,536 shares of the company's stock valued at $1,973,000 after buying an additional 22,964 shares in the last quarter. Paradigm Capital Management Inc. NY bought a new position in shares of Citi Trends in the second quarter valued at about $2,751,000. Sierra Summit Advisors LLC acquired a new position in Citi Trends during the 4th quarter worth about $994,000. Ieq Capital LLC acquired a new position in Citi Trends during the 2nd quarter worth about $974,000. Finally, State of Wyoming bought a new stake in Citi Trends during the 1st quarter worth about $397,000.

Citi Trends Stock Up 1.2%

CTRN stock opened at $68.07 on Tuesday. The company has a market cap of $567.02 million, a P/E ratio of 83.01 and a beta of 1.82. Citi Trends, Inc. has a twelve month low of $29.60 and a twelve month high of $77.91. The business has a fifty day moving average of $65.64 and a 200-day moving average of $53.26.

Citi Trends (NASDAQ:CTRN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.37. The business had revenue of $211.63 million for the quarter, compared to analyst estimates of $211.60 million. Citi Trends had a return on equity of 8.25% and a net margin of 0.84%.

Analyst Ratings Changes

Several research firms have weighed in on CTRN. DA Davidson set a $81.00 price objective on shares of Citi Trends in a research report on Wednesday, August 26th. Wall Street Zen upgraded shares of Citi Trends from a "hold" rating to a "buy" rating in a research report on Monday, June 29th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Citi Trends in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Citi Trends presently has a consensus rating of "Moderate Buy" and an average target price of $81.00.

Citi Trends Profile

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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