Citi Trends (NASDAQ:CTRN) Issues Quarterly Earnings Results

Citi Trends (NASDAQ:CTRN) posted its quarterly earnings results on Tuesday. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($1.42), Zacks reports. The business had revenue of $176.55 million for the quarter. Citi Trends had a negative return on equity of 4.99% and a negative net margin of 1.16%.

Citi Trends Price Performance

NASDAQ:CTRN opened at $14.47 on Friday. Citi Trends has a one year low of $13.98 and a one year high of $32.90. The company has a market cap of $124.37 million, a PE ratio of -13.40 and a beta of 2.39. The firm has a 50-day moving average of $18.18 and a 200-day moving average of $22.93.

Insider Activity at Citi Trends

In related news, major shareholder Fund 1 Investments, Llc acquired 7,835 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was purchased at an average cost of $24.02 per share, with a total value of $188,196.70. Following the acquisition, the insider now owns 2,159,362 shares of the company’s stock, valued at approximately $51,867,875.24. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Kenneth Duane Seipel acquired 135,128 shares of Citi Trends stock in a transaction on Friday, July 12th. The stock was acquired at an average cost of $19.06 per share, with a total value of $2,575,539.68. Following the transaction, the chief executive officer now owns 319,562 shares of the company’s stock, valued at approximately $6,090,851.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Fund 1 Investments, Llc acquired 7,835 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was purchased at an average price of $24.02 per share, with a total value of $188,196.70. Following the purchase, the insider now owns 2,159,362 shares in the company, valued at approximately $51,867,875.24. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 485,961 shares of company stock valued at $9,914,198. 3.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on CTRN. Craig Hallum cut their target price on shares of Citi Trends from $25.00 to $14.00 and set a “hold” rating on the stock in a research note on Wednesday. StockNews.com cut shares of Citi Trends from a “hold” rating to a “sell” rating in a research report on Thursday. Benchmark reaffirmed a “buy” rating and issued a $35.00 target price on shares of Citi Trends in a research report on Wednesday, June 5th. Finally, DA Davidson cut their price target on Citi Trends from $33.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday.

Citi Trends Company Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. It offers apparel, such as fashion sportswear and footwear for men and ladies, as well as apparel for kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.