Citi Trends (NASDAQ:CTRN) Releases Earnings Results, Beats Estimates By $0.59 EPS

Citi Trends (NASDAQ:CTRN) posted its quarterly earnings data on Tuesday. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.59, FiscalAI reports. Citi Trends had a net margin of 0.64% and a negative return on equity of 4.78%. The company had revenue of $230.86 million during the quarter, compared to the consensus estimate of $217.42 million.

Citi Trends Stock Down 3.8%

NASDAQ CTRN opened at $44.28 on Tuesday. The stock has a market cap of $370.18 million, a PE ratio of 75.05 and a beta of 1.88. Citi Trends has a fifty-two week low of $26.08 and a fifty-two week high of $56.78. The business has a 50 day moving average price of $45.07 and a two-hundred day moving average price of $44.78.

Insiders Place Their Bets

In other Citi Trends news, Director Margaret L. Jenkins sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $45.91, for a total value of $91,820.00. Following the completion of the transaction, the director owned 14,163 shares in the company, valued at $650,223.33. This represents a 12.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Citi Trends

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wolverine Trading LLC purchased a new position in shares of Citi Trends during the 3rd quarter valued at approximately $386,000. JPMorgan Chase & Co. boosted its stake in shares of Citi Trends by 343.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,573 shares of the company’s stock valued at $421,000 after buying an additional 10,509 shares during the last quarter. Magnetar Financial LLC purchased a new position in shares of Citi Trends during the 3rd quarter valued at approximately $429,000. Man Group plc purchased a new position in shares of Citi Trends during the 3rd quarter valued at approximately $434,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Citi Trends by 24.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 10,978 shares of the company’s stock valued at $456,000 after buying an additional 2,179 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Craig Hallum reaffirmed a “buy” rating on shares of Citi Trends in a research note on Wednesday, March 18th. Weiss Ratings raised shares of Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday. Finally, DA Davidson reaffirmed a “buy” rating and set a $68.00 price objective on shares of Citi Trends in a research note on Thursday, May 28th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

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.