Citi Trends (NASDAQ:CTRN) Reaches New 1-Year High – Should You Buy?

Citi Trends, Inc. (NASDAQ:CTRN)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $66.47 and last traded at $66.30, with a volume of 76652 shares traded. The stock had previously closed at $65.65.

Analysts Set New Price Targets

A number of equities analysts recently commented on CTRN shares. Wall Street Zen upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a research note on Monday, June 29th. Weiss Ratings upgraded Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Finally, DA Davidson lifted their price target on Citi Trends from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Citi Trends Price Performance

The company has a market capitalization of $553.10 million, a PE ratio of 47.97 and a beta of 1.83. The company’s 50 day simple moving average is $51.78 and its 200 day simple moving average is $47.97.

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

Institutional Investors Weigh In On Citi Trends

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Broad Bay Capital Management LP purchased a new position in Citi Trends during the 4th quarter worth approximately $6,650,000. AQR Capital Management LLC lifted 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 buying an additional 128,508 shares during the last quarter. Marshall Wace LLP lifted its stake in Citi Trends by 269.2% in the second quarter. Marshall Wace LLP now owns 160,084 shares of the company’s stock valued at $5,345,000 after buying an additional 116,722 shares during the last quarter. UBS Group AG boosted its holdings in shares of Citi Trends by 478.3% in the third quarter. UBS Group AG now owns 122,631 shares of the company’s stock valued at $3,805,000 after acquiring an additional 101,426 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Citi Trends in the third quarter valued at approximately $2,778,000.

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.