Citi Trends, Inc. (NASDAQ:CTRN) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Citi Trends, Inc. (NASDAQ:CTRN – Get Rating) have earned an average rating of “Buy” from the seven research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $80.00.

A number of equities analysts have issued reports on the stock. TheStreet cut shares of Citi Trends from a “b-” rating to a “c+” rating in a research note on Thursday, February 17th. Zacks Investment Research cut shares of Citi Trends from a “buy” rating to a “hold” rating in a research note on Friday, March 18th. Telsey Advisory Group reduced their price objective on shares of Citi Trends from $100.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 9th. Gordon Haskett cut shares of Citi Trends from a “buy” rating to an “accumulate” rating and decreased their price objective for the company from $90.00 to $60.00 in a report on Thursday, February 10th. Finally, StockNews.com began coverage on shares of Citi Trends in a report on Thursday, March 31st. They set a “hold” rating for the company.

NASDAQ:CTRN opened at $27.80 on Wednesday. The stock’s fifty day moving average price is $34.23. Citi Trends has a 52-week low of $26.63 and a 52-week high of $109.33. The firm has a market cap of $241.03 million, a P/E ratio of 4.10 and a beta of 2.08.

Citi Trends (NASDAQ:CTRN – Get Rating) last announced its quarterly earnings data on Tuesday, March 15th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.07. Citi Trends had a net margin of 6.28% and a return on equity of 48.27%. The firm had revenue of $240.97 million for the quarter, compared to analysts’ expectations of $241.80 million. During the same period last year, the firm earned $1.81 earnings per share. On average, equities analysts predict that Citi Trends will post 4.45 earnings per share for the current fiscal year.

In related news, SVP Jessica Berkowitz sold 1,815 shares of the stock in a transaction that occurred on Tuesday, April 12th. The stock was sold at an average price of $31.95, for a total transaction of $57,989.25. Following the completion of the sale, the senior vice president now directly owns 5,446 shares of the company’s stock, valued at approximately $173,999.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Avestar Capital LLC acquired a new stake in Citi Trends in the 1st quarter valued at approximately $206,000. Exchange Traded Concepts LLC raised its position in Citi Trends by 73.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 13,688 shares of the company’s stock valued at $419,000 after buying an additional 5,792 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Citi Trends during the first quarter valued at approximately $330,000. Strs Ohio bought a new position in Citi Trends in the first quarter valued at approximately $575,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Citi Trends by 194.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,852 shares of the company’s stock worth $57,000 after purchasing an additional 1,223 shares during the last quarter.

About Citi Trends (Get Rating)

Citi Trends, Inc operates as a value-priced 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 kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.

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