Analysts at Craig Hallum initiated coverage on shares of Citi Trends (NASDAQ:CTRN) in a note issued to investors on Tuesday, Briefing.com reports. The brokerage set a "buy" rating and a $93.00 price target on the stock. Craig Hallum's price objective indicates a potential upside of 23.65% from the company's current price.
NASDAQ:CTRN opened at $75.21 on Tuesday. The stock has a market cap of $762.55 million, a PE ratio of 53.34 and a beta of 1.64. Citi Trends has a fifty-two week low of $6.70 and a fifty-two week high of $76.88. The firm's fifty day simple moving average is $61.53 and its 200-day simple moving average is $37.69.
Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Tuesday, December 1st. The company reported $0.67 EPS for the quarter. The firm had revenue of $199.10 million for the quarter. Citi Trends had a net margin of 2.07% and a return on equity of 10.32%. On average, analysts forecast that Citi Trends will post 1.91 EPS for the current year.
In other news, SVP Christina Short sold 2,600 shares of the firm's stock in a transaction that occurred on Thursday, December 10th. The shares were sold at an average price of $41.49, for a total transaction of $107,874.00. Following the completion of the sale, the senior vice president now owns 9,544 shares of the company's stock, valued at $395,980.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David N. Makuen purchased 1,000 shares of the firm's stock in a transaction dated Wednesday, December 16th. The shares were bought at an average cost of $43.85 per share, with a total value of $43,850.00. Following the transaction, the chief executive officer now directly owns 15,645 shares of the company's stock, valued at approximately $686,033.25. The disclosure for this purchase can be found here. 8.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. New York State Teachers Retirement System acquired a new stake in Citi Trends in the 4th quarter worth approximately $40,000. Bank of New York Mellon Corp lifted its holdings in Citi Trends by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 82,175 shares of the company's stock worth $4,082,000 after purchasing an additional 1,077 shares during the last quarter. Citigroup Inc. lifted its holdings in Citi Trends by 282.8% in the 4th quarter. Citigroup Inc. now owns 1,918 shares of the company's stock worth $95,000 after purchasing an additional 1,417 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Citi Trends by 37.3% during the second quarter. Bank of America Corp DE now owns 5,924 shares of the company's stock worth $120,000 after buying an additional 1,609 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Citi Trends by 10.4% during the fourth quarter. Rhumbline Advisers now owns 18,922 shares of the company's stock worth $940,000 after buying an additional 1,779 shares during the last quarter. Institutional investors own 88.82% of the company's stock.
About Citi Trends
Citi Trends, Inc operates as a value-priced retailer of fashion apparel, accessories, and home goods. The company offers apparel, such as fashion sportswear for men and women, as well as children, including newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional bedroom, bathroom, and kitchen products, as well as beauty products and toys.
Featured Article: How does a 12b-1 fee affect fund performance?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
7 Entertainment Stocks That Are Still Delighting Investors
2020 has created a real-life movie script that many production companies could have only dreamed of. But that dream has been a nightmare for many of the world’s leading entertainment stocks. Movie theaters and live entertainment venues remain shut down. The words “pent-up demand” have never resonated more. Consumers are desperate for ways to be entertained.
That may make it an odd time to consider looking at entertainment stocks. But that would be a mistake. In fact, some entertainment stocks have been among the biggest pandemic winners. This is a trend that is likely to continue as the holidays arrive. The phrase “home for the holidays” is likely to have a new meaning this year. That means consumers will still be looking for ways to be entertained. And now is the time for you to prepare your portfolio for that move.
To be clear, the novel coronavirus was not due to poor management from any company. And you can bet that in the future, many companies will leave some room in their balance sheet for future “acts of God.” But in the meantime, some entertainment stocks have been pandemic winners. And that means they will likely continue to be winners as long as the pandemic lingers.
View the "7 Entertainment Stocks That Are Still Delighting Investors".