Citi Trends (NASDAQ:CTRN) Stock Price Up 7.6% – Should You Buy?

Citi Trends, Inc. (NASDAQ:CTRN)’s share price traded up 7.6% during mid-day trading on Tuesday . The company traded as high as $63.81 and last traded at $63.67. 86,740 shares traded hands during trading, a decline of 31% from the average daily volume of 126,561 shares. The stock had previously closed at $59.20.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Citi Trends from a “hold” rating to a “buy” rating in a report on Monday, June 29th. Weiss Ratings raised Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. DA Davidson lifted their target price on shares of Citi Trends from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, Craig Hallum reaffirmed a “buy” rating on shares of Citi Trends in a research report on Wednesday, March 18th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Citi Trends Stock Up 7.4%

The business has a 50-day moving average price of $49.98 and a two-hundred day moving average price of $47.14. The company has a market capitalization of $529.40 million, a price-to-earnings ratio of 45.72 and a beta of 1.83.

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

Institutional Trading of Citi Trends

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Citi Trends by 10.2% during the 3rd quarter. Vanguard Group Inc. now owns 373,685 shares of the company’s stock valued at $11,595,000 after purchasing an additional 34,450 shares during the last quarter. AWM Investment Company Inc. increased its holdings in Citi Trends by 3.9% during the fourth quarter. AWM Investment Company Inc. now owns 241,657 shares of the company’s stock worth $10,043,000 after buying an additional 9,180 shares during the last quarter. Marshall Wace LLP raised its position in Citi Trends by 61.1% in the fourth quarter. Marshall Wace LLP now owns 197,641 shares of the company’s stock worth $8,214,000 after acquiring an additional 74,994 shares during the period. AQR Capital Management LLC boosted its stake in Citi Trends by 239.6% in the fourth quarter. AQR Capital Management LLC now owns 182,133 shares of the company’s stock valued at $7,569,000 after acquiring an additional 128,508 shares during the last quarter. Finally, Broad Bay Capital Management LP bought a new position in shares of Citi Trends during the 4th quarter valued at approximately $6,650,000.

About Citi Trends

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.