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

Citi Trends (NASDAQ:CTRNGet Rating) had its price target lowered by research analysts at Telsey Advisory Group to $45.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. Telsey Advisory Group’s price objective indicates a potential upside of 45.35% from the company’s previous close.

CTRN has been the topic of a number of other research reports. TheStreet lowered shares of Citi Trends from a “b-” rating to a “c+” rating in a report on Thursday, February 17th. Zacks Investment Research raised shares of Citi Trends from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 17th. Craig Hallum lowered shares of Citi Trends from a “buy” rating to a “hold” rating and decreased their price target for the stock from $80.00 to $34.00 in a report on Friday, May 20th. Benchmark decreased their price target on shares of Citi Trends to $50.00 in a report on Wednesday. Finally, Gordon Haskett lowered shares of Citi Trends from a “buy” rating to an “accumulate” rating and decreased their price target for the stock from $90.00 to $60.00 in a report on Thursday, February 10th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Citi Trends presently has a consensus rating of “Buy” and an average target price of $45.00.

Citi Trends stock traded up $2.78 during midday trading on Wednesday, reaching $30.96. 62,690 shares of the stock were exchanged, compared to its average volume of 548,519. The company’s fifty day moving average is $30.85 and its 200-day moving average is $52.10. The firm has a market cap of $268.39 million, a PE ratio of 4.54 and a beta of 2.01. Citi Trends has a 52 week low of $21.70 and a 52 week high of $97.46.

Citi Trends (NASDAQ:CTRNGet Rating) last posted its earnings results on Tuesday, May 24th. The company reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $3.25. Citi Trends had a net margin of 6.28% and a return on equity of 48.27%. During the same quarter last year, the firm posted $3.23 EPS. As a group, analysts forecast that Citi Trends will post 4.45 EPS for the current year.

In related news, SVP Jessica Berkowitz sold 1,815 shares of the stock in a transaction on Tuesday, April 12th. The shares were 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 approximately $173,999.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CTRN. Wells Fargo & Company MN boosted its position in Citi Trends by 197.1% during the 2nd quarter. Wells Fargo & Company MN now owns 20,614 shares of the company’s stock valued at $1,793,000 after buying an additional 13,676 shares during the period. Morgan Stanley lifted its position in shares of Citi Trends by 215.5% in the 2nd quarter. Morgan Stanley now owns 42,195 shares of the company’s stock worth $3,671,000 after purchasing an additional 28,821 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Citi Trends by 32.7% in the 3rd quarter. Goldman Sachs Group Inc. now owns 470,021 shares of the company’s stock worth $34,293,000 after purchasing an additional 115,690 shares during the period. US Bancorp DE lifted its position in shares of Citi Trends by 301.0% in the 3rd quarter. US Bancorp DE now owns 401 shares of the company’s stock worth $29,000 after purchasing an additional 301 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Citi Trends by 15.3% in the 3rd quarter. American Century Companies Inc. now owns 28,879 shares of the company’s stock worth $2,107,000 after purchasing an additional 3,825 shares during the period.

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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