Craig Hallum Trims Citi Trends (NASDAQ:CTRN) Target Price to $168.00

Citi Trends (NASDAQ:CTRN) had its price target lowered by Craig Hallum from $175.00 to $168.00 in a research report released on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently weighed in on CTRN. Benchmark assumed coverage on shares of Citi Trends in a research note on Tuesday, September 21st. They issued a buy rating and a $115.00 target price for the company. Zacks Investment Research upgraded shares of Citi Trends from a hold rating to a buy rating and set a $102.00 target price for the company in a research note on Wednesday, November 24th.

Citi Trends stock opened at $57.36 on Wednesday. Citi Trends has a 52-week low of $54.98 and a 52-week high of $111.44. The firm has a fifty day moving average of $80.68 and a 200-day moving average of $80.13. The firm has a market capitalization of $487.56 million, a P/E ratio of 7.72 and a beta of 1.83.

Citi Trends (NASDAQ:CTRN) last announced its earnings results on Tuesday, November 30th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.58. Citi Trends had a net margin of 7.03% and a return on equity of 50.02%. During the same period in the prior year, the firm earned $0.67 earnings per share. Sell-side analysts forecast that Citi Trends will post 6.82 earnings per share for the current fiscal year.

In other Citi Trends news, VP Charles J. Hynes sold 1,419 shares of the stock in a transaction on Friday, December 3rd. The shares were sold at an average price of $76.64, for a total transaction of $108,752.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lisa A. Powell sold 2,831 shares of the stock in a transaction on Monday, December 6th. The stock was sold at an average price of $78.00, for a total transaction of $220,818.00. The disclosure for this sale can be found here. Insiders have acquired a total of 3,350 shares of company stock worth $233,444 over the last quarter. 6.20% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the business. Rafferty Asset Management LLC raised its holdings in shares of Citi Trends by 1.2% during the third quarter. Rafferty Asset Management LLC now owns 12,072 shares of the company’s stock worth $881,000 after purchasing an additional 140 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in shares of Citi Trends by 5.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 4,414 shares of the company’s stock worth $384,000 after purchasing an additional 229 shares during the period. US Bancorp DE raised its holdings in shares of Citi Trends by 301.0% during the third quarter. US Bancorp DE now owns 401 shares of the company’s stock worth $29,000 after purchasing an additional 301 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Citi Trends during the third quarter worth $25,000. Finally, AE Wealth Management LLC raised its holdings in shares of Citi Trends by 15.3% during the third quarter. AE Wealth Management LLC now owns 3,282 shares of the company’s stock worth $239,000 after purchasing an additional 435 shares during the period.

Citi Trends Company Profile

Citi Trends, Inc engages in the retail of urban fashion apparel, accessories, and home decor. It offers products under its Citi Steps and Red Ape brands. The company was founded in 1946 and is headquartered in Savannah, GA.

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