Citi Trends (NASDAQ:CTRN) Stock Price Down 6% – Time to Sell?

Citi Trends, Inc. (NASDAQ:CTRN)’s share price dropped 6% on Thursday . The stock traded as low as $68.10 and last traded at $67.61. Approximately 7,102 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 127,027 shares. The stock had previously closed at $71.93.

Wall Street Analyst Weigh In

Several research firms recently commented on CTRN. DA Davidson boosted their target price on Citi Trends from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Wall Street Zen upgraded Citi Trends from a “hold” rating to a “buy” rating in a research report on Monday, June 29th. Finally, Weiss Ratings raised Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Citi Trends Price Performance

The firm has a market capitalization of $597.34 million, a P/E ratio of 51.59 and a beta of 1.82. The firm’s 50 day simple moving average is $64.35 and its two-hundred day simple moving average is $52.18.

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

Hedge Funds Weigh In On Citi Trends

A number of large investors have recently bought and sold shares of CTRN. Sei Investments Co. increased its stake in shares of Citi Trends by 101.7% in the first quarter. Sei Investments Co. now owns 45,536 shares of the company’s stock worth $1,973,000 after buying an additional 22,964 shares during the period. Sierra Summit Advisors LLC bought a new stake in Citi Trends during the 4th quarter valued at $994,000. Dynamic Technology Lab Private Ltd boosted its position in Citi Trends by 57.5% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 34,989 shares of the company’s stock valued at $1,454,000 after buying an additional 12,767 shares during the period. State of Wyoming bought a new stake in Citi Trends in the 1st quarter worth $397,000. Finally, Hodges Capital Management Inc. grew its holdings in Citi Trends by 12.7% in the 1st quarter. Hodges Capital Management Inc. now owns 125,100 shares of the company’s stock worth $5,419,000 after acquiring an additional 14,100 shares during 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.