Citi Trends (NASDAQ:CTRN) Announces Earnings Results, Misses Expectations By $1.42 EPS

Citi Trends (NASDAQ:CTRN) released 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. Citi Trends had a negative net margin of 1.16% and a negative return on equity of 4.99%. The firm had revenue of $176.55 million for the quarter.

Citi Trends Stock Performance

Shares of CTRN traded up $0.02 during trading hours on Thursday, reaching $14.34. 165,748 shares of the company traded hands, compared to its average volume of 123,159. The stock’s fifty day moving average is $18.32 and its 200 day moving average is $22.99. The stock has a market cap of $123.25 million, a P/E ratio of -13.28 and a beta of 2.39. Citi Trends has a 1-year low of $13.98 and a 1-year high of $32.90.

Wall Street Analyst Weigh In

CTRN has been the subject of a number of recent analyst reports. Benchmark restated a “buy” rating and set a $35.00 price target on shares of Citi Trends in a report on Wednesday, June 5th. Craig Hallum decreased their price target on shares of Citi Trends from $25.00 to $14.00 and set a “hold” rating for the company in a report on Wednesday. Finally, DA Davidson cut their price objective on shares of Citi Trends from $33.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday.

Insider Buying and Selling

In other Citi Trends news, major shareholder Fund 1 Investments, Llc purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was purchased at an average price of $20.06 per share, with a total value of $60,180.00. Following the completion of the transaction, the insider now directly owns 2,571,986 shares of the company’s stock, valued at approximately $51,594,039.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Fund 1 Investments, Llc acquired 3,000 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was bought at an average price of $20.06 per share, with a total value of $60,180.00. Following the completion of the acquisition, the insider now owns 2,571,986 shares in the company, valued at approximately $51,594,039.16. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Kenneth Duane Seipel acquired 86,998 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were purchased at an average cost of $18.96 per share, with a total value of $1,649,482.08. Following the acquisition, the chief executive officer now owns 123,916 shares of the company’s stock, valued at approximately $2,349,447.36. The disclosure for this purchase can be found here. Insiders acquired 484,461 shares of company stock valued at $9,890,483 over the last quarter. Corporate insiders own 3.80% of the company’s stock.

About Citi Trends

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.