Citi Trends (NASDAQ:CTRN) Posts Quarterly Earnings Results, Beats Expectations By $0.37 EPS

Citi Trends (NASDAQ:CTRN) released its quarterly earnings results on Tuesday. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.37, Zacks reports. Citi Trends had a return on equity of 2.09% and a net margin of 1.42%.

Citi Trends Stock Up 3.7%

CTRN opened at $74.35 on Tuesday. Citi Trends has a 52 week low of $29.60 and a 52 week high of $77.91. The business has a 50 day moving average price of $64.73 and a two-hundred day moving average price of $52.44. The company has a market cap of $619.34 million, a PE ratio of 53.49 and a beta of 1.82.

Analyst Ratings Changes

Several research firms have recently weighed in on CTRN. DA Davidson increased their price objective on Citi Trends from $68.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Weiss Ratings raised shares of Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Finally, Wall Street Zen upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a research note on Monday, June 29th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Hedge Funds Weigh In On Citi Trends

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in shares of Citi Trends by 143.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock worth $33,000 after acquiring an additional 619 shares during the period. New York State Common Retirement Fund raised its holdings in Citi Trends by 175.0% during the fourth quarter. New York State Common Retirement Fund now owns 1,100 shares of the company’s stock worth $46,000 after purchasing an additional 700 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Citi Trends in the fourth quarter valued at about $51,000. Meeder Asset Management Inc. boosted its holdings in Citi Trends by 277.1% in the 4th quarter. Meeder Asset Management Inc. now owns 1,648 shares of the company’s stock valued at $68,000 after purchasing an additional 1,211 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Citi Trends by 7,843.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,355 shares of the company’s stock valued at $197,000 after purchasing an additional 6,275 shares in the last quarter.

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.