BidaskClub Upgrades Citi Trends (CTRN) to “Buy”

BidaskClub upgraded shares of Citi Trends (NASDAQ:CTRN) from a hold rating to a buy rating in a report issued on Thursday.

Separately, ValuEngine raised shares of Citi Trends from a hold rating to a buy rating in a report on Wednesday, October 31st.

Shares of Citi Trends stock traded up $0.54 on Thursday, reaching $21.47. 70,666 shares of the stock were exchanged, compared to its average volume of 97,517. Citi Trends has a one year low of $17.78 and a one year high of $34.90. The company has a market cap of $276.26 million, a PE ratio of 17.04 and a beta of 0.54.



Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings results on Friday, November 30th. The company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.07). Citi Trends had a return on equity of 10.15% and a net margin of 2.47%. The firm had revenue of $175.40 million for the quarter, compared to the consensus estimate of $180.90 million. During the same period last year, the company posted $0.05 EPS. The business’s revenue was down .8% on a year-over-year basis. As a group, equities analysts predict that Citi Trends will post 1.69 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 26th. Stockholders of record on Tuesday, December 11th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Monday, December 10th. Citi Trends’s dividend payout ratio (DPR) is presently 25.40%.

In other news, Director Jonathan Duskin sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 18th. The shares were sold at an average price of $19.63, for a total transaction of $294,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.41% of the company’s stock.

Several institutional investors have recently modified their holdings of CTRN. First Trust Advisors LP increased its position in Citi Trends by 18.0% during the 2nd quarter. First Trust Advisors LP now owns 15,626 shares of the company’s stock worth $429,000 after purchasing an additional 2,387 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Citi Trends by 38.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 176,019 shares of the company’s stock worth $4,830,000 after purchasing an additional 48,949 shares in the last quarter. American Century Companies Inc. acquired a new position in Citi Trends during the 2nd quarter worth approximately $421,000. Renaissance Technologies LLC increased its position in Citi Trends by 28.7% during the 2nd quarter. Renaissance Technologies LLC now owns 200,075 shares of the company’s stock worth $5,490,000 after purchasing an additional 44,650 shares in the last quarter. Finally, Macquarie Group Ltd. increased its position in Citi Trends by 213.7% during the 2nd quarter. Macquarie Group Ltd. now owns 18,156 shares of the company’s stock worth $498,000 after purchasing an additional 12,368 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

About Citi Trends

Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, including fashion sportswear for men and women, as well as children, such as newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional and decorative home products, as well as beauty products, books, and toys.

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