Posted by admin on Aug 12th, 2022

Shares of Citi Trends, Inc. (NASDAQ:CTRN – Get Rating) have received a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $47.25.

Several brokerages have recently issued reports on CTRN. Benchmark decreased their price target on Citi Trends to $50.00 in a research note on Wednesday, May 25th. Telsey Advisory Group dropped their price target on Citi Trends to $45.00 in a research note on Wednesday, May 25th. Finally, Craig Hallum lowered Citi Trends from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $80.00 to $34.00 in a report on Friday, May 20th.

Shares of CTRN opened at $29.58 on Friday. Citi Trends has a 12-month low of $20.42 and a 12-month high of $97.46. The stock’s fifty day simple moving average is $24.71 and its 200-day simple moving average is $31.48. The firm has a market capitalization of $248.32 million, a PE ratio of 4.14 and a beta of 1.96.

Citi Trends (NASDAQ:CTRN – Get Rating) last posted its quarterly earnings data on Tuesday, May 24th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. Citi Trends had a return on equity of 27.43% and a net margin of 6.73%. The business had revenue of $208.22 million during the quarter, compared to the consensus estimate of $207.10 million. During the same period last year, the company earned $3.23 earnings per share. Analysts anticipate that Citi Trends will post 2.52 EPS for the current year.

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in Citi Trends in the 4th quarter worth $532,000. CWM LLC purchased a new position in shares of Citi Trends in the fourth quarter worth $55,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Citi Trends during the fourth quarter worth $60,000. Advisor Group Holdings Inc. raised its holdings in shares of Citi Trends by 3.5% during the fourth quarter. Advisor Group Holdings Inc. now owns 8,174 shares of the company’s stock worth $775,000 after purchasing an additional 275 shares during the last quarter. Finally, Arizona State Retirement System purchased a new position in shares of Citi Trends during the fourth quarter worth $225,000.

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. It offers apparel, such as fashion sportswear and footwear for men and ladies, as well as apparel for kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.

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