Citi Trends (CTRN) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Citi Trends (NASDAQ:CTRN) from a hold rating to a buy rating in a research note released on Wednesday morning.

Separately, BidaskClub cut shares of Citi Trends from a buy rating to a hold rating in a report on Saturday, September 15th.

NASDAQ:CTRN opened at $25.77 on Wednesday. The firm has a market capitalization of $334.37 million, a price-to-earnings ratio of 15.91 and a beta of 0.72. Citi Trends has a 12 month low of $20.03 and a 12 month high of $34.90.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Thursday, August 23rd. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.17. The business had revenue of $182.00 million during the quarter, compared to analysts’ expectations of $178.50 million. Citi Trends had a net margin of 2.61% and a return on equity of 10.59%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company posted $0.03 earnings per share. Equities analysts predict that Citi Trends will post 1.7 EPS for the current fiscal year.

In other Citi Trends news, Director Jonathan Duskin sold 10,800 shares of the firm’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $32.53, for a total value of $351,324.00. Following the completion of the sale, the director now directly owns 5,009 shares in the company, valued at $162,942.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ivy D. Council sold 3,723 shares of the firm’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $33.02, for a total transaction of $122,933.46. Following the completion of the sale, the senior vice president now owns 77,261 shares of the company’s stock, valued at $2,551,158.22. The disclosure for this sale can be found here. Insiders sold 20,257 shares of company stock valued at $660,268 over the last 90 days. Corporate insiders own 8.41% of the company’s stock.

Large investors have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its stake in shares of Citi Trends by 2.5% in the third quarter. Acadian Asset Management LLC now owns 97,465 shares of the company’s stock valued at $2,805,000 after buying an additional 2,343 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Citi Trends by 1.3% in the first quarter. Northern Trust Corp now owns 191,337 shares of the company’s stock valued at $5,914,000 after buying an additional 2,379 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Citi Trends by 18.0% in the second quarter. First Trust Advisors LP now owns 15,626 shares of the company’s stock valued at $429,000 after buying an additional 2,387 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of Citi Trends by 5.7% in the third quarter. Wedge Capital Management L L P NC now owns 52,610 shares of the company’s stock valued at $1,514,000 after buying an additional 2,832 shares in the last quarter. Finally, Alambic Investment Management L.P. lifted its stake in shares of Citi Trends by 7.7% in the second quarter. Alambic Investment Management L.P. now owns 59,010 shares of the company’s stock valued at $1,619,000 after buying an additional 4,239 shares in the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.

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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