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

Citi Trends (NASDAQ:CTRN) released its 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 company had revenue of $176.55 million during the quarter.

Citi Trends Price Performance

CTRN stock traded up $0.02 during midday trading on Thursday, reaching $14.34. 165,748 shares of the company’s stock traded hands, compared to its average volume of 123,159. The company has a market capitalization of $123.25 million, a P/E ratio of -13.21 and a beta of 2.39. Citi Trends has a fifty-two week low of $13.98 and a fifty-two week high of $32.90. The business has a 50-day moving average price of $18.32 and a two-hundred day moving average price of $22.99.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Citi Trends

In other news, major shareholder Fund 1 Investments, Llc bought 7,835 shares of Citi Trends stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average cost of $24.02 per share, with a total value of $188,196.70. Following the completion of the transaction, the insider now owns 2,159,362 shares in the company, valued at approximately $51,867,875.24. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Kenneth Duane Seipel bought 135,128 shares of Citi Trends stock in a transaction dated Friday, July 12th. The shares were acquired at an average cost of $19.06 per share, with a total value of $2,575,539.68. Following the completion of the transaction, the chief executive officer now owns 319,562 shares in the company, valued at approximately $6,090,851.72. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Fund 1 Investments, Llc bought 7,835 shares of Citi Trends stock in a transaction dated Wednesday, June 5th. The shares were purchased at an average cost of $24.02 per share, for a total transaction of $188,196.70. Following the completion of the transaction, the insider now owns 2,159,362 shares of the company’s stock, valued at approximately $51,867,875.24. The disclosure for this purchase can be found here. Insiders have acquired a total of 484,461 shares of company stock valued at $9,890,483 over the last ninety days. Corporate insiders own 3.80% of the company’s stock.

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.