Citi Trends (NASDAQ:CTRN) Price Target Lowered to $45.00 at Telsey Advisory Group

Citi Trends (NASDAQ:CTRNGet Rating) had its price objective cut by equities researchers at Telsey Advisory Group to $45.00 in a note issued to investors on Wednesday, Stock Target Advisor reports. Telsey Advisory Group’s price objective points to a potential upside of 45.35% from the company’s current price.

A number of other research firms have also issued reports on CTRN. Craig Hallum lowered Citi Trends from a “buy” rating to a “hold” rating and lowered their target price for the company from $80.00 to $34.00 in a research note on Friday, May 20th. Gordon Haskett lowered Citi Trends from a “buy” rating to an “accumulate” rating and lowered their target price for the company from $90.00 to $60.00 in a research note on Thursday, February 10th. Benchmark lowered their target price on Citi Trends to $50.00 in a research note on Wednesday. Zacks Investment Research upgraded Citi Trends from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 17th. Finally, StockNews.com assumed coverage on Citi Trends in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $45.00.

Shares of Citi Trends stock traded up $2.78 during trading hours on Wednesday, reaching $30.96. The stock had a trading volume of 62,690 shares, compared to its average volume of 548,519. The firm has a 50 day simple moving average of $30.85 and a two-hundred day simple moving average of $52.10. The firm has a market capitalization of $268.39 million, a price-to-earnings ratio of 4.54 and a beta of 2.01. Citi Trends has a 1 year low of $21.70 and a 1 year high of $97.46.

Citi Trends (NASDAQ:CTRNGet Rating) last released its quarterly earnings data on Tuesday, May 24th. The company reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $3.25. Citi Trends had a return on equity of 48.27% and a net margin of 6.28%. During the same period in the prior year, the business posted $3.23 EPS. On average, equities analysts predict that Citi Trends will post 4.45 earnings per share for the current fiscal year.

In other Citi Trends news, SVP Jessica Berkowitz sold 1,815 shares of the firm’s 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 owns 5,446 shares in the company, valued at approximately $173,999.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA grew its stake in Citi Trends by 863.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 22,901 shares of the company’s stock valued at $701,000 after purchasing an additional 20,523 shares in the last quarter. Walleye Capital LLC bought a new position in Citi Trends during the 1st quarter worth approximately $787,000. Weiss Multi Strategy Advisers LLC lifted its holdings in Citi Trends by 1.6% during the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 55,932 shares of the company’s stock worth $1,713,000 after buying an additional 876 shares during the last quarter. Sender Co & Partners Inc. lifted its holdings in Citi Trends by 848.1% during the 1st quarter. Sender Co & Partners Inc. now owns 132,019 shares of the company’s stock worth $4,043,000 after buying an additional 118,095 shares during the last quarter. Finally, Point72 Hong Kong Ltd lifted its holdings in Citi Trends by 430.5% during the 1st quarter. Point72 Hong Kong Ltd now owns 2,727 shares of the company’s stock worth $84,000 after buying an additional 2,213 shares during the last quarter.

About Citi Trends (Get Rating)

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. It offers apparel, such as fashion sportswear and footwear for men and ladies, as well as apparel for kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.

Further Reading

Stock Target Advisor logo

Receive News & Ratings for Citi Trends Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citi Trends and related companies with MarketBeat.com's FREE daily email newsletter.