Citi Trends (NASDAQ:CTRN) Hits New 12-Month High – Still a Buy?

Citi Trends, Inc. (NASDAQ:CTRN)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $64.78 and last traded at $64.5650, with a volume of 16970 shares traded. The stock had previously closed at $61.89.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings upgraded shares of Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Wall Street Zen lowered shares of Citi Trends from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Craig Hallum reissued a “buy” rating on shares of Citi Trends in a report on Wednesday, March 18th. Finally, DA Davidson raised their target price on shares of Citi Trends from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Citi Trends Price Performance

The stock has a market capitalization of $468.31 million, a price-to-earnings ratio of 40.45 and a beta of 1.88. The firm has a fifty day moving average of $48.18 and a 200 day moving average of $46.05.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.59. Citi Trends had a return on equity of 2.09% and a net margin of 1.42%.The company had revenue of $230.86 million during the quarter, compared to analysts’ expectations of $217.42 million. During the same period last year, the business earned $0.11 earnings per share.

Insider Buying and Selling at Citi Trends

In related news, Director Margaret L. Jenkins sold 2,000 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $45.91, for a total value of $91,820.00. Following the completion of the transaction, the director directly owned 14,163 shares in the company, valued at $650,223.33. The trade was a 12.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 9.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in shares of Citi Trends by 101.7% during the 1st quarter. Sei Investments Co. now owns 45,536 shares of the company’s stock worth $1,973,000 after acquiring an additional 22,964 shares in the last quarter. State of Wyoming acquired a new stake in shares of Citi Trends during the 1st quarter valued at about $397,000. Meeder Asset Management Inc. increased its stake in shares of Citi Trends by 40.5% in the 1st quarter. Meeder Asset Management Inc. now owns 2,315 shares of the company’s stock valued at $100,000 after purchasing an additional 667 shares in the last quarter. Hillsdale Investment Management Inc. increased its stake in shares of Citi Trends by 73.0% in the 1st quarter. Hillsdale Investment Management Inc. now owns 15,880 shares of the company’s stock valued at $688,000 after purchasing an additional 6,700 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Citi Trends by 50.0% in the 1st quarter. Principal Financial Group Inc. now owns 18,330 shares of the company’s stock valued at $794,000 after purchasing an additional 6,112 shares in the last quarter.

Citi Trends Company Profile

Citi Trends, Inc (NASDAQ: CTRN) is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.

The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.