Citi Trends (NASDAQ:CTRN) Announces Earnings Results, Misses Estimates By $0.09 EPS

Citi Trends (NASDAQ:CTRN) released its earnings results on Tuesday. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09), Zacks reports. The company had revenue of $197.09 million for the quarter, compared to analyst estimates of $187.33 million. Citi Trends had a negative return on equity of 21.25% and a negative net margin of 2.13%.

Citi Trends Price Performance

Shares of NASDAQ:CTRN opened at $43.47 on Wednesday. Citi Trends has a 12 month low of $16.82 and a 12 month high of $49.50. The firm has a market capitalization of $361.24 million, a P/E ratio of -21.74 and a beta of 2.16. The company’s fifty day moving average price is $37.19 and its 200 day moving average price is $33.57.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CTRN. Wall Street Zen lowered shares of Citi Trends from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Citi Trends in a report on Wednesday, October 8th. Finally, DA Davidson raised their price objective on shares of Citi Trends from $40.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $39.50.

Institutional Trading of Citi Trends

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its position 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 valued at $33,000 after purchasing an additional 619 shares during the period. Bank of America Corp DE lifted its stake in Citi Trends by 5.8% in the second quarter. Bank of America Corp DE now owns 6,221 shares of the company’s stock valued at $208,000 after buying an additional 342 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Citi Trends by 7,843.8% in the third quarter. Russell Investments Group Ltd. now owns 6,355 shares of the company’s stock valued at $197,000 after acquiring an additional 6,275 shares during the period. State of Wyoming grew its position in shares of Citi Trends by 7.0% during the second quarter. State of Wyoming now owns 7,160 shares of the company’s stock worth $239,000 after acquiring an additional 469 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of Citi Trends during the third quarter worth approximately $272,000.

Citi Trends Company Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. The company 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.