Zacks: Citi Trends, Inc. (CTRN) Given Average Rating of “Strong Buy” by Brokerages
Citi Trends, Inc. (NASDAQ:CTRN) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Zacks has also given Citi Trends an industry rank of 35 out of 255 based on the ratings given to related companies.
Separately, BidaskClub upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a research note on Thursday, August 16th.
Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings results on Thursday, August 23rd. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.17. The company had revenue of $182.00 million for the quarter, compared to the consensus estimate of $178.50 million. Citi Trends had a return on equity of 10.59% and a net margin of 2.61%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business posted $0.03 earnings per share. research analysts predict that Citi Trends will post 1.7 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, August 31st. Citi Trends’s payout ratio is presently 25.40%.
In related news, SVP Ivy D. Council sold 5,734 shares of the stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $32.44, for a total value of $186,010.96. Following the completion of the sale, the senior vice president now owns 77,261 shares in the company, valued at $2,506,346.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Ivy D. Council sold 3,723 shares of the stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $33.02, for a total transaction of $122,933.46. Following the completion of the sale, the senior vice president now owns 77,261 shares of the company’s stock, valued at approximately $2,551,158.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,257 shares of company stock valued at $660,268. 8.41% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTRN. Northern Trust Corp lifted its stake in Citi Trends by 41.3% during the second quarter. Northern Trust Corp now owns 270,449 shares of the company’s stock worth $7,421,000 after purchasing an additional 79,112 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in Citi Trends by 64.2% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 19,700 shares of the company’s stock worth $541,000 after purchasing an additional 7,700 shares during the period. Paloma Partners Management Co bought a new position in Citi Trends during the second quarter worth about $262,000. Macquarie Group Ltd. lifted its stake in Citi Trends by 213.7% during the second quarter. Macquarie Group Ltd. now owns 18,156 shares of the company’s stock worth $498,000 after purchasing an additional 12,368 shares during the period. Finally, Alambic Investment Management L.P. lifted its stake in Citi Trends by 7.7% during the second quarter. Alambic Investment Management L.P. now owns 59,010 shares of the company’s stock worth $1,619,000 after purchasing an additional 4,239 shares during the period. Institutional investors and hedge funds own 94.46% of the company’s stock.
About Citi Trends
Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, including fashion sportswear for men and women, as well as children, such as newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional and decorative home products, as well as beauty products, books, and toys.
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