Citi Trends (NASDAQ:CTRN) PT Lowered to $50.00 at Benchmark

Citi Trends (NASDAQ:CTRNGet Rating) had its price target cut by analysts at Benchmark to $50.00 in a research report issued on Wednesday, Stock Target Advisor reports. Benchmark’s target price suggests a potential upside of 61.50% from the company’s previous close.

Several other research firms have also recently weighed in on CTRN. Gordon Haskett cut Citi Trends from a “buy” rating to an “accumulate” rating and decreased their target price for the stock from $90.00 to $60.00 in a research note on Thursday, February 10th. Craig Hallum cut Citi Trends from a “buy” rating to a “hold” rating and reduced their price objective for the company from $80.00 to $34.00 in a research note on Friday, May 20th. Zacks Investment Research upgraded Citi Trends from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 17th. Telsey Advisory Group reduced their price objective on Citi Trends from $100.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, March 9th. Finally, StockNews.com started coverage on Citi Trends in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $45.00.

Shares of CTRN traded up $2.78 during midday trading on Wednesday, hitting $30.96. The company had a trading volume of 62,690 shares, compared to its average volume of 548,519. The company’s 50-day simple moving average is $30.85 and its 200-day simple moving average is $52.10. The firm has a market capitalization of $268.39 million, a P/E 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 announced its quarterly earnings data on Tuesday, May 24th. The company reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the firm posted $3.23 earnings per share. On average, analysts anticipate that Citi Trends will post 4.45 EPS for the current year.

In related news, SVP Jessica Berkowitz sold 1,815 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 5,446 shares of the company’s stock, valued at $173,999.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CTRN. Adage Capital Partners GP L.L.C. acquired a new stake in Citi Trends in the fourth quarter valued at $42,638,000. Polar Asset Management Partners Inc. acquired a new stake in Citi Trends in the third quarter valued at $12,549,000. Jennison Associates LLC grew its holdings in Citi Trends by 38.1% in the fourth quarter. Jennison Associates LLC now owns 587,715 shares of the company’s stock valued at $55,686,000 after purchasing an additional 161,998 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in Citi Trends by 1,133,757.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 158,740 shares of the company’s stock valued at $14,708,000 after purchasing an additional 158,726 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Citi Trends by 6,339.6% in the third quarter. Wellington Management Group LLP now owns 159,508 shares of the company’s stock valued at $11,637,000 after purchasing an additional 157,031 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.

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