Citi Trends (NASDAQ:CTRN) Issues Earnings Results, Misses Estimates By $1.42 EPS

Citi Trends (NASDAQ:CTRN) posted its earnings results on Tuesday. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($1.42), Zacks reports. The firm 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

Shares of NASDAQ:CTRN traded down $0.04 on Thursday, reaching $14.28. 189,561 shares of the company traded hands, compared to its average volume of 123,302. Citi Trends has a fifty-two week low of $13.98 and a fifty-two week high of $32.90. The stock has a market capitalization of $122.74 million, a PE ratio of -13.28 and a beta of 2.39. The company’s 50 day moving average is $18.32 and its 200-day moving average is $22.99.

Insider Buying and Selling

In other news, major shareholder Fund 1 Investments, Llc acquired 7,835 shares of Citi Trends stock in a transaction on Wednesday, June 5th. The stock was bought at an average cost of $24.02 per share, with a total value of $188,196.70. Following the completion of the purchase, the insider now owns 2,159,362 shares of the company’s stock, valued at $51,867,875.24. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Kenneth Duane Seipel purchased 135,128 shares of the stock in a transaction on Friday, July 12th. The shares were bought at an average price of $19.06 per share, for a total transaction of $2,575,539.68. Following the completion of the acquisition, the chief executive officer now directly 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 acquired 7,835 shares of Citi Trends stock in a transaction dated 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 completion of the purchase, the insider now directly 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. In the last quarter, insiders have purchased 484,461 shares of company stock valued at $9,890,483. 3.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CTRN shares. DA Davidson reduced their target price on Citi Trends from $33.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday. Craig Hallum cut 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, Benchmark reissued a “buy” rating and set a $35.00 price objective on shares of Citi Trends in a report on Wednesday, June 5th.

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.