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

Shares of Citi Trends, Inc. (NASDAQ:CTRN) hit a new 52-week high on Monday . The stock traded as high as $73.99 and last traded at $73.8690, with a volume of 645 shares changing hands. The stock had previously closed at $72.69.

Wall Street Analyst Weigh In

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

Citi Trends Stock Performance

The firm has a market cap of $634.58 million, a price-to-earnings ratio of 54.81 and a beta of 1.82. The company has a 50 day moving average price of $60.08 and a 200 day moving average price of $50.57.

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

Hedge Funds Weigh In On Citi Trends

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Citi Trends in the 2nd quarter valued at approximately $29,400,000. Vanguard Group Inc. lifted its stake in Citi Trends by 10.2% during the third quarter. Vanguard Group Inc. now owns 373,685 shares of the company’s stock worth $11,595,000 after purchasing an additional 34,450 shares in the last quarter. AWM Investment Company Inc. lifted its stake in Citi Trends by 3.9% during the fourth quarter. AWM Investment Company Inc. now owns 241,657 shares of the company’s stock worth $10,043,000 after purchasing an additional 9,180 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Citi Trends by 61.1% during the fourth quarter. Marshall Wace LLP now owns 197,641 shares of the company’s stock worth $8,214,000 after buying an additional 74,994 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Citi Trends by 239.6% during the fourth quarter. AQR Capital Management LLC now owns 182,133 shares of the company’s stock worth $7,569,000 after buying an additional 128,508 shares during the period.

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.