Citi Trends (NASDAQ:CTRN) Issues Earnings Results, Beats Expectations By $0.59 EPS

Citi Trends (NASDAQ:CTRN) announced 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 firm had revenue of $230.86 million during the quarter, compared to the consensus estimate of $217.42 million.

Citi Trends Price Performance

Shares of CTRN opened at $44.28 on Tuesday. The firm has a 50 day simple moving average of $45.07 and a 200-day simple moving average of $44.78. Citi Trends has a 1-year low of $26.08 and a 1-year high of $56.78. The stock has a market cap of $370.18 million, a price-to-earnings ratio of 75.05 and a beta of 1.88.

Insider Buying and Selling at Citi Trends

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

Institutional Trading of Citi Trends

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Citi Trends by 10.2% in the 3rd quarter. Vanguard Group Inc. now owns 373,685 shares of the company’s stock worth $11,595,000 after acquiring an additional 34,450 shares during the period. AWM Investment Company Inc. grew its stake in Citi Trends by 3.9% in the 4th quarter. AWM Investment Company Inc. now owns 241,657 shares of the company’s stock worth $10,043,000 after acquiring an additional 9,180 shares during the period. Marshall Wace LLP grew its stake in Citi Trends by 61.1% in the 4th 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 grew its stake in Citi Trends by 239.6% in the 4th quarter. AQR Capital Management LLC now owns 182,133 shares of the company’s stock worth $7,569,000 after acquiring an additional 128,508 shares during the period. Finally, Broad Bay Capital Management LP purchased a new stake in Citi Trends in the 4th quarter worth approximately $6,650,000.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CTRN. Craig Hallum reaffirmed a “buy” rating on shares of Citi Trends in a report on Wednesday, March 18th. Weiss Ratings raised shares of Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday. Finally, DA Davidson reaffirmed a “buy” rating and issued a $68.00 target price on shares of Citi Trends in a report on Thursday, May 28th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.